E9-13 (Algo) Calculating Variable Manufacturing Overhead Variances [LO 9-5] Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of direct labor hours. Information LLL's standard cost card follows: Variable manufacturing overbead During August, LLL had the following actual results: Units produced and sold Actual variable overhead Actual direct labor hours Standard Quantity 0.6 Variable Overhead Rate Variance Variable Overhead Efficiency Variance Variable Overhead Spending Variance 26,100 $ 9,570 16,800 Standard Rate $0.80 Standard Unit Cost $0.48 Required: Compute LLL's variable overhead rate variance, variable overhead efficiency variance, and over- or underapplied variable overhea Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).

E9-13 (Algo) Calculating Variable Manufacturing Overhead Variances [LO 9-5] Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of direct labor hours. Information LLL's standard cost card follows: Variable manufacturing overbead During August, LLL had the following actual results: Units produced and sold Actual variable overhead Actual direct labor hours Standard Quantity 0.6 Variable Overhead Rate Variance Variable Overhead Efficiency Variance Variable Overhead Spending Variance 26,100 $ 9,570 16,800 Standard Rate $0.80 Standard Unit Cost $0.48 Required: Compute LLL's variable overhead rate variance, variable overhead efficiency variance, and over- or underapplied variable overhea Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).

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Description: H1. 3ntseBookHirdPrintReferencesE9-13 (Algo) Calculating Variable Manufacturing Overhead Variances [LO 9-5]Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of direct labor hours. Information fromLLL's standa

FINANCIAL ACCOUNTING

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Chapter1: Financial Statements And Business Decisions

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Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of direct labor hours. Standard Quantity Standard Rate Standard Unit Cost Var. Man. OH 0.6 $0.80 $0.48 During August, LLL had the following actual results Units produced and sold-25,300 Actual Variable Overhead-$9,520 Actual Direct Labor Hours-16,300 Variable Overhead Rate Variance? AH X (SR-AR) I keep getting wrong Variable Overhead Effeciency Variance? SR X (SH-AH)m I keep gettimg wrong Variable Overhead Spending Variance? Im not sure the formula for this
Rainbow Company uses standard cost system for its production process. Rainbow Company applies overhead based on direct labor hours. The following information is available for October Standard: Direct labor hours per unit 2.20 variable overhead per hour P2.50 fixed overhead per hour (based on 11,990 DLHs) 3.00 Actual: Units produced 4,400 Direct labor hours 8,800 Variable Overhead P29,950 Fixed Overhead 42,300 1. What is the variable overhead spending variance? 2. Using the three-variance approach, what is the efficiency variance?Required to answer. Single choice. 3. Using the two-variance approach, what is the controllable variance?
Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of direct labor hours. Information from LLL's standard cost card follows: Variable manufacturing overhead Standard Standard Quantity Rate 0.6 $0.80 Units produced and sold Actual variable overhead Actual direct labor hours During August, LLL had the following actual results: $ Standard Unit Cost $0.48 26,300 9,590 17,000 Variable Overhead Rate Variance Variable Overhead Efficiency Variance Variable Overhead Spending Variance Required: Compute LLL's variable overhead rate variance, variable overhead efficiency variance, and over- or underapplied variable overhead. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)
The records of Heritage Home Supplies show the following for July: Standard direct labor-hours allowed per unit of output Standard variable overhead rate per standard direct labor-hour Good units produced Actual direct labor-hours worked Actual total direct labor cost Direct labor efficiency variance Actual variable overhead Required: Compute the direct labor and variable overhead price and efficiency variances. $ 34 3,600 13,925 $ 510,200 $ 17,670 F $ 473,450 Note: Do not round Intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Direct labor: Price variance Efficiency variance Variable overhead: Price variance Efficiency variance
Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of direct labor hours. Information from LLL's standard cost card follows: Variable manufacturing overhead During August, LLL had the following actual results: Units produced and sold Actual variable overhead Actual direct labor hours Standard. Quantity 0.6 Variable Overhead Rate Variance Variable Overhead Efficiency Variance Variable Overhead Spending Variance 24,900 $ 9,480 15,900 Standard Rate $0.80 Standard Unit Cost $0.48 Required: Compute LLL's variable overhead rate variance, variable overhead efficiency variance, and over- or underapplied variable overhead. Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).
Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of direct labor hours. Inform LLL's standard cost card follows: Variable manufacturing overhead During August, LLL had the following actual results: Units produced and sold Actual variable overhead Actual direct labor hours Standard Quantity 0.6 Variable Overhead Rate Variance Variable Overhead Efficiency Variance Variable Overhead Spending Variance 26,300 $ 9,590 17,000 Standard Rate $0.80 Standard. Unit Cost $0.48 Required: Compute LLL's variable overhead rate variance, variable overhead efficiency variance, and over- or underapplied variable Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" unfavorable, and "None" for no effect (i.e., zero variance).
Terrell Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. Inputs Variable manufacturing overhead O $46 U $2.30 per hour The company has reported the following actual results for the product for July: Actual output Actual direct labor-hours Actual variable overhead rate S 2.10 per hour Actual variable overhead cost $ 4,998 The variable overhead efficiency variance for the month is closest to: $42 F Standard Quantity or Hours per Unit of Output O $46 F O $42 U Standard Price or Rate 0.30 hours 8,000 units 2,380 hours
Standard hours per unit of output Standard variable overhead rate The following data pertain to operations for the last month: Actual direct labor-hours Actual total variable manufacturing overhead cost Actual output What is the variable overhead rate variance for the month? Multiple Choice TB MC Qu. 10-202 (Algo) A manufacturing company that has only one product... A manufacturing company that has only one product has established the following standards for its variable manufacturing overhead. The company bases its variable manufacturing overhead standards on direct labor-hours. C $1446 F saved SUGSF 3.80 direct labor-hours $11.15 per direct labor-hour Help 8,700 direct labor-hours $ 95,840 2,100 units Save & Exit
8.Hithlum Inc. uses a standard cost system. Overhead cost information for product SK for the month of May is as follows: Total overhead cost incurred P12,600 Fixed overhead budgeted P 3,300 Total standard overhead rate per direct labor hour P 4.00 Variable overhead rate per direct labor hours P 3.00 Standard hours allowed for actual production 3,500What is the overall overhead variance?
15. Reems Corporation uses a standard cost system. Direct labor information for Product E for the month of November is as follows: Standard labor price, P6.10 per hour Actual rate paid, P6.00 per hour Standard quantity allowed for actual production, 1,500 hours Labor efficiency variance, P600 unfavorable What is the actual hours worked? Group of answer choices 1,402 1,400 1,600 1,598
The records of Heritage Home Supplies show the following for July. Standard direct labor-hours allowed per unit of output Standard variable overhead rate per standard direct labor-hour Good unita produced Actual direct labor-hours worked Actual total direct labor cost 632 3,560 13,775 $ 504,000 Direct labor efficiency variance Actual variable overhead $ 17.2987 $ 440,800 Required: Compute the direct labor and variable overhead price and efficiency varlances. Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" fo unfavorable. If there is no effect, do not select either option. Direct labor: Price variance Efficiency variance Variable overhead: Price variance Efficiency variance
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