Chan Manufacturing Company data for 20X7 follow 1349

Chan Manufacturing Company data for 20X7 follow 1349 - 2...

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Chan Manufacturing Company data for 20X7 follow : Sales: 12,000 units at $17 each Actual production 15,000 units Expected volume of production 18,000 units Manufacturing costs incurred Variable $120,000 Fixed 63,000 Nonmanufacturing costs incurred Variable $ 24,000 Fixed 18,000 13-49 Study Appendix 13. Consider the following data regarding factory overhead: Budget for actual hours of input Variable $45,000 Fixed $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. 1. Spending variance Overhead Spending Variance= Actual Fixed Overhead - Budgeted Fixed Overhead Variable Spending Variance = $48,500 - $45,000 Fixed Spending Variance = $68,500 - $70,000
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Unformatted text preview: 2. Efficiency variance Variable Efficiency Variance = $45,000 - $41,000 Fixed Efficiency Variance = $70,000 - $70,000 3. Production-volume variance Variable Production-Volume Variance = $41,000 - $41,000 Fixed Production-Volume Variance = $70,000 - $64,800 4. Flexible-budget variance Variable Flexible-Budget Variance = $48,500 - $41,000 Fixed Flexible-Budget Variance = $68,500 - $70,000 5. Under applied overhead Variable Underapplied Overhead = $48,500 - $41,000 Fixed Underapplied Overhead = $68,500 - $64,800 Total Variabl e Fixed 1. Spending variance 2,00 0 U 3,500 U 1,50 0 F 2. Efficiency variance 4,00 0 U 4,000 U NA 3. Production-volume variance 5,20 0 U NA 5,20 0 U 4. Flexible-budget variance 6,00 0 U 7,500 U 1,50 0 F 5. Under applied overhead 1,20 0 U 7,500 U 3,70 0 U...
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Chan Manufacturing Company data for 20X7 follow 1349 - 2...

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