Author Question: Bismith Company reported: Actual fixed overhead$700,000Fixed manufacturing overhead spending ... (Read 188 times)

dejastew · **on:** Mar 6, 2021

Question 1

An unfavorable fixed overhead spending variance indicates that ________.
◦ there was more excess capacity than planned
◦ the price of fixed overhead items cost more than budgeted
◦ the fixed overhead cost-allocation base was not used efficiently
◦ the denominator level was more than planned

Question 2

Bismith Company reported:

Actual fixed overhead

$700,000

Fixed manufacturing overhead spending variance

$40,000 unfavorable

Fixed manufacturing production-volume variance

$30,000 unfavorable

To record the write-off of these variances at the end of the accounting period, Bismith would ________.
◦ credit Fixed Manufacturing Overhead Allocated for $700,000
◦ debit Fixed Manufacturing Overhead Spending Variance for $40,000
◦ credit Fixed Manufacturing Production-Volume Variance for $30,000
◦ debit Fixed Manufacturing Control for $700,000

alvinum · **Reply #1 on:** Mar 6, 2021

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