ACC2355 Assignment 3 - ACC2355 Assignment 3 Flexible Budgets and Overhead Variances(3 This assignment relates to the following Course Learning

ACC2355 Assignment 3 - ACC2355 Assignment 3 Flexible...

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1ACC2355Assignment 3 – Flexible Budgets and Overhead Variances (3%)This assignment relates to the following Course Learning Requirements:CLR 2 – Apply the concepts of relevant costing to generate operational recommendations to management.Objective of this Assignment:To apply course material in order to complete calculations related to flexiblebudgets and overhead variances.Instructions:For this assignment, you are required to answer questions related to 3 problems in order to demonstrate yourcomprehension of the chapter content and the ability apply this knowledge through calculations. You must useboth analytical practises and theory.Problem AFixed Overhead Spending and Volume Ariances, Columnar and Formula ApproachesA company provided the following information:Standard fixed overhead rate (SFOR) per direct labour hour$7.00Actual fixed overhead rate (AFOR) per direct labour hour$6.95Actual direct labour hours worked (AH)36,100Actual production in units12,000Standard hours allowed for actual units produced (SH)36,000Problem A – Questions:1.Using the columnar approach, calculate the fixed overhead spending and efficiency variances.2.Using the formula approach, calculate the fixed overhead spending variance.
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  • Winter '16
  • Columnar and Formula Approaches, fixed overhead spending

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