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Author Question: Teddy Company uses a standard cost system. In May, $234,000 of variable manufacturing overhead costs ... (Read 125 times)

CORALGRILL2014

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on: Mar 6, 2021

Question 1

Russo Corporation manufactured 21,000 air conditioners during November. The overhead cost-allocation base is $34.50 per machine-hour. The following variable overhead data pertain to November:

ActualBudgeted
Production21,000 units23,000 units
Machine-hours12,700 hours13,800 hours
Variable overhead cost per machine-hour:$34.00$34.50
What is the total variable overhead variance?
◦ $2,900.00 unfavorable
◦ $3,450.00 unfavorable
◦ $2,900.00 favorable
◦ $3,450.00 favorable

Question 2

Teddy Company uses a standard cost system. In May, $234,000 of variable manufacturing overhead costs were incurred and the flexible-budget amount for the month was $240,000. Which of the following variable manufacturing overhead entries would have been recorded for May?
◦
Accounts Payable Control and other accounts240,000
Work-in-Process Control240,000

◦
Work-in-Process Control240,000
Variable Manufacturing Overhead Allocated240,000

◦
Work-in-Process Control234,000
Accounts Payable Control and other accounts234,000

◦
Accounts Payable Control and other accounts234,000
Variable Manufacturing Overhead Control234,000
Horngren's Cost Accounting: A Managerial Emphasis ¦ Datar, Rajan ¦ 16th Edition
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Marked as best answer by CORALGRILL2014 on Mar 6, 2021

wfdfwc23

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Reply #1 on: Mar 6, 2021
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CORALGRILL2014

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Reply 2 on: Mar 6, 2021
Thanks for the timely response, appreciate it

xiazhe

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Reply 3 on: Yesterday
Excellent

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