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Unformatted text preview: (P.452). 4. Calculate variable overhead and fixed overhead variances, provide plausible general reasons for each of the variances, and indicate who is usually responsible for explaining the variance. 5. Apply overhead cost to units of product in a standard cost system and explain the relationship between overhead variances and under/over applied overhead cost. (See supplementary note and problems) 6. Prepare journal entries related to the recording of overhead variances in a standard cost system including the disposition of variances at the year end. (See supplementary note and related problems, P7-26, P7-41). 7. Calculate variable and fixed manufacturing variances in a comprehensive variance problem when only partial information is provided (i.e., find the unknown amounts). 8. Describe the criteria used to determine when to follow up variances. (See supplementary note). P10-23, P10-24, P10-25, P10-26 Rev. 03/11...
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This note was uploaded on 03/03/2012 for the course ACCT 2460 taught by Professor Farrar during the Winter '12 term at Conestoga.
- Winter '12