Superior, Inc. uses a standard cost system and provides the following information (Click the icon...
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Superior, Inc. uses a standard cost system and provides the following information (Click the icon to view the information.) Superior allocates manufacturing overhead to production based on standard direct labor hours. Superior reported the following actual results for 2018: actual number of units produced, 1,000; actual variable overhead, $3,800; actual fixed overhead, $3,000; actual direct labor hours, 1,300 Read the requirements -standard quantity; VOH variable overhead.) Data Table Formula Actual VOH (SC x AQ) (AQ - SQ) x SC Variance $ 1,200 U VOH cost variance VOH efficiency variance Now compute the fixed overhead cost and volume variances. Select the required formulas, compute t S 1,400 F Static budget variable overhead Static budget fixed overhead Static budget direct labor hours Static budget number of units Standard direct labor hours 2,200 $ 2,200 whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: ACactual cost, AG standard quantity.) 1,100 hours Formula Actual FOH - Budgeted FOH Bugeted FOH - Allocated FOH Variance 550 units FOH cost variance 400 U 2 hours per unit FOH volume variance - 400 F PrintDone Choose from any list or enter any number in the input fields and then click Check
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