Which of the following is the correct mathematical

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Chapter 4 / Exercise MBA 4-4
Survey of Accounting
Warren
Expert Verified
4) Which of the following is the correct mathematical expression to calculate the fixed overhead spending variance?A) Static-budget amount — Flexible-budget amount B) Actual costs incurred — Flexible-budget amount C) Static-budget amount — Fixed overhead allocated for actual outputD) Flexible-budget amount — Fixed overhead allocated for actual outputAnswer:
BDiff: 1Objective: 4AACSB: Analytical thinking
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Survey of Accounting
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Chapter 4 / Exercise MBA 4-4
Survey of Accounting
Warren
Expert Verified
5) For fixed manufacturing overhead, there is no ________.
BDiff: 1Objective: 4AACSB: Analytical thinking6) Advanced Manufacturing Company reported:Actual fixed overhead$430,000Fixed manufacturing overhead spending variance$19,000 favorableFixed manufacturing production-volume variance$24,000 unfavorable To isolate these variances at the end of the accounting period, John would debit Fixed Manufacturing Overhead Allocated for ________.
B
Diff: 2Objective: 4AACSB: Analytical thinking7) Castleton Corporation manufactured 36,000 units during March. The following fixed overhead data relates to March:ActualStatic BudgetProduction36,000 units34,000 unitsMachine-hours6,960 hours6,800 hoursFixed overhead costs for March$164,700$156,400What is the flexible-budget amount?
B
Diff: 2Objective: 4AACSB: Application of knowledge
8) Castleton Corporation manufactured 41,000 units during March. The following fixed overhead data relates to March:ActualStatic BudgetProduction41,000 units39,000 unitsMachine-hours6,020 hours5,850 hoursFixed overhead costs for March$125,500$117,000What is the amount of fixed overhead allocated to production? A) $128,210.13B) $117,000.00C) $125,500.00D) $123,000.00Answer: Explanation: Fixed overhead cost per machine hour = $117,000 ÷ 5,850 = $20Machine hours per unit = 5,850 ÷ 39,000 = 0.15Fixed overhead cost per unit = $20 × 0.15 = $3.00Fixed overhead allocated = 41,000 × $3.00 = $123,000.00
D
Diff: 3Objective: 4AACSB: Application of knowledge9) Castleton Corporation manufactured 36,500 units during March. The following fixed overhead data relates to March:ActualStatic BudgetProduction36,500 units35,000 unitsMachine-hours5,400 hours5,250 hoursFixed overhead costs for March$139,510$131,250What is the fixed overhead spending variance?
C
Diff: 2Objective: 4AACSB: Application of knowledge

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