Check my Crystal Glassware Company has the following standards and flexible-budg
ID: 2556335 • Letter: C
Question
Check my Crystal Glassware Company has the following standards and flexible-budget data. Standard variable-overhead rate Standard quantity of direct labor Budgeted fixed overhead Budgeted output $ 19 per direct-labor hour 2.5 hours per unit of output $330,000 26,500 units Actual results for April are as follows Actual output Actual variable overhead $1,003,000 Actual fixed overhéad 306,000 Actual direct labor 19,700 units 50,150 hours Required: Use the following diagrams below (similar to Exhibit 11.6 and Exhibit 11-8 to compute () the variable-overhead spending and efficiency variances, and (2) the fixed-overhead budget and volume variances Complete this question by entering your answers in the tabs belowExplanation / Answer
Variable Overhead spending and efficiency variance (Hour = Direct labor hours) 1 2 3 4 Actual variable Overhead Projected variable Overhead Flexible Budget: Variable overhead Variable overhead applied to work in process Actul Hours(AQ) X Actual Rate(AVR) Actul Hours(AQ) X Standard Rate(SVR) Standard allowed Hours(SQ) X Standard Rate(SVR) Standard allowed Hours(SQ) X Standard Rate(SVR) 50150 X 20 50150 X 19 49250 X 19 49250 X 19 Hours Per hour Hours Per hour Hours Per hour Hours Per hour 1003000 952850 935750 935750 Variable Overhead spending variance Variable Overhead efficiecny variance =952850-1003000 =935750-952850 -50150 Unfavourable -17100 Unfavourable Fixed Overhead budget and volume variance Hours = Direct Labor hours 1 2 3 Actual fixed overhead Budgeted Fixed overhead Fixed Overhead applied to work in process Standard allowed hours Standard fixed overhead rate 49250 4.98 Hours Per hour 306000 330000 245321 Fixed overhead budget variance Fixed overhead volume variance =330000-306000 =245321-330000 24000 Favourable -84679 Unfavourble As per Chegg Policy, we are supposed to answer maximum of one question at a time. Thank You