2024 – Complete the following Problem Sets from the text Show your work 13 49

Complete the following Problem Sets from the text. Show your work.

 

13-49 Variances

Study Appendix 13. Consider the following data regarding factory overhead:

 

Variable           Fixed

Budget for actual hours of input                      $45,000           $70,000

Applied                                                41,000                         64,800

Budget for standard hours allowed

for actual output achieved                   ?                      ?

Actual incurred                                                48,500                         68,500

 

Using the above data, fill in the following blanks with the variance amounts. Use F for favorable or U for unfavorable for each variance.

Total Overhead Variable Fixed

1. Spending variance ______ ______ ______

2. Efficiency variance ______ ______ ______

3. Production-volume variance ______ ______ ______

4. Flexible-budget variance ______ ______ ______

5. Underapplied overhead ______ ______ ______