Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Basic Finance Expert

At the start of 2012, Textile Express Company determined its standard labor cost to be 2.5 hours per unit at $33.90 per hour. The budget for variable overhead was $9 per unit, and budgeted fixed overhead was $15,000 for the year. Expected annual production was 5,000 units. During 2012, the actual cost of labor was $34.30 per hour. Textile Express produced 4,840 units requiring 11,800 direct labor hours. Actual overhead for the year was $48,820.

find out labor rate and efficiency variances and the controllable overhead variance and the overhead volume variance. (Round calculations to 2 decimal places, e.g. 25.21 and the final answers to 0 decimal places, e.g. 5,250. For negative numbers use either a negative sign preceding the number, e.g. -45 or parenthesis, e.g. (45).)

Labor Rate Variance $_______ favorable or unfavorable

Labor Efficiency Variance $______ unfavorable or favorable

Controllable Overhead Variance $_____ favorable or unfavorable

Overhead Volume Variance $ ____ unfavorable or favorable

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M943943

Have any Question? 


Related Questions in Basic Finance

Oberon inc has a 20 million face value 8-year bond issue

Oberon, Inc., has a $20 million (face value) 8-year bond issue selling for 99 percent of par that pays an annual coupon of 8.05 percent. What would be Oberon's before-tax component cost of debt?

Suppose instead of waiting for the economy described in

Suppose, instead of waiting for the economy described in given Problem to return to long-run equilibrium, the central bank opted to use the positive supply shock as an opportunity to move to a lower inflation target. Ill ...

You are being interviewed for a job as a financial

You are being interviewed for a job as a financial assistant. As part of the interview process, the office manager tells you there will be a short test to assess your familiarity with basic financial terms which would pl ...

Opti-net has a cost of goods sold cogs of 57 they are

Opti-Net has a Cost of Goods Sold (COGS) of 57%. They are considering opening another officeat a cost of $22,000 per month. If they have an average revenue of $70 per sale and they only sellone in five customers, what wo ...

The domestic and international financial marketplace topic

The domestic and international financial marketplace. Topic include financial markets, types of financial intermediaries, the form and methods of stock market operation, the stock market, multinational corporation, forei ...

Why is the npv method for budgeting accepted as the most

Why is the NPV method for budgeting accepted as the most valuable budgeting tool? If you were not allowed to use NPV for a budget you were developing, what other method(s) would you use? Explain your choices.

What is the importance of geotextiles and sand in

What is the importance of geotextiles and sand in reclamation works?

A firm is expected to pay a dividend of 355 next year and

A firm is expected to pay a dividend of $3.55 next year and $3.85 the following year. Financial analysts believe the stock will be at their price target of $120 in two years. Compute the value of this stock with a requir ...

Define and contrast stocks and bondswhat are the advantages

Define and contrast stocks and bonds. What are the advantages of owning preferred stock? What are the advantages of owning common stock?

Will changes in technology affect the rate at which the

Will changes in technology affect the rate at which the short-run aggregate supply curve shifts in response to an output gap? Why or why not? Provide some specific examples of how technology will change the rate of adjus ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate