CourseLover

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About CourseLover

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Expertise:
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Algebra,Applied Sciences,Architecture and Design,Art & Design,Biology,Business & Finance,Calculus,Chemistry,Engineering,Health & Medical,HR Management,Law,Marketing,Math,Physics,Psychology,Programming,Science Hide all
Teaching Since: May 2017
Last Sign in: 286 Weeks Ago
Questions Answered: 27237
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Education

  • MCS,MBA(IT), Pursuing PHD
    Devry University
    Sep-2004 - Aug-2010

Experience

  • Assistant Financial Analyst
    NatSteel Holdings Pte Ltd
    Aug-2007 - Jul-2017

Category > Accounting Posted 18 Dec 2017 My Price 10.00

basis of direct labour hours

Derf Company allocates overhead on the basis of direct labour hours. Two direct labour hours are required for each unit of product. Planned production for the period was set at 9000 units. Manufacturing overhead is estimated at $135 000 for the period (20 per cent of this cost is fixed). The 17 200 hours worked during the period resulted in the production of 8500 units. Variable manufacturing overhead cost incurred was $108 500 and the fixed manufacturing overhead cost was $28 000.

Required

  • (a)
  • Determine the variable overhead spending variance.
  • (b)
  • Determine the variable overhead efficiency (quantity) variance.
  • (c)
  • Determine the fixed overhead spending (budget) variance.
  • (d)
  • Determine the production volume (fixed overhead volume or denominator) variance.
  • (e)
  • Prepare journal entries to close these variances at the end of the period.

Answers

CourseLover
(12)
Status NEW Posted 18 Dec 2017 07:12 AM My Price 10.00

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