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Author Question: Wainwright has budgeted construction overhead for August of $435,000 for fixed costs. Actual costs ... (Read 39 times)

rosent76

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Question 1

Explain why managers of small businesses prefer 3-variance analysis over 4-variance analysis.

Question 2

Wainwright has budgeted construction overhead for August of $435,000 for fixed costs. Actual costs for the month totaled for $450,000 for fixed. Allocated fixed overhead totaled $430,000. The company tracks each item in an overhead control account before allocations are made to individual jobs. The fixed overhead spending variance for August was $15,000 unfavorable for fixed. 

Required:
a.Make journal entries for the actual costs incurred.
b.Make journal entries to record the variances for August. 


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Marked as best answer by rosent76 on Mar 6, 2021

Yixagurpuldink

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rosent76

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Reply 2 on: Mar 6, 2021
Excellent


dreamfighter72

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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