Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. tex metal company has developed standard overhead

Tex Metal Company has developed standard overhead costs based on a monthly capacity of 180,000...

80.2K

Verified Solution

Question

Accounting

Tex Metal Company has developed standard overhead costs based on a monthly capacity of 180,000 machine hours as follows:

Standard costs per unit:
Variable portion 2 hours @ $3 = $6
Fixed portion 2 hours @ $5 = 10
$16

During November, 90,000 units were scheduled for production, but only 80,000 units were actually produced. The following data relate to November: Actual machine hours used were 165,000. Actual overhead incurred totaled $1,378,000 ($518,000 variable plus $860,000 fixed).

All inventories are carried at standard cost.

Refer to Tex Metal Company. The fixed overhead spending variance for November was

Select one:

a. $60,000 U.

b. $60,000 F.

c. $40,000 U.

d. $40,000 F.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Ragan, Inc. was founded nineteen years ago by brother and sister Carrington and Genevieve Ragan. The...

Finance
Q

(10) Financial Statements Give a basic explanation what each of the financial statements does and why it...

Finance
Q

Please describe and discuss similarities and differences between the ways plants and animals communicate with other...

Biology
Q

How many unique 1 H NMR signals exist in the spectrum of the following compound: 1,3-dibromobenzene?

Chemistry
Q

Case 3: Recently, an association that represented police in New Jersey complained that the incidence of cancer...

Psychology
Q

Have you worked with both digital and standard radiography equipment? If so, which do you prefer?

Physics
Q

Temperature has a relatively unusual effect on rubber. Assume that the rubber band is governed mainly...

Mechanical Engineering
Q

The two triangles below are similar Also mLH 20 and mI 100 as shown below...

Geometry
Q

3 Find the arclength of the highlighted section 288 9 5 ft

Geometry
Q

JF distributes property with a fmv of $30,000 and a basis of $45,000 to Joe...

Accounting
Q

A company issues a 20-year bond with semiannual coupon of 8% and a YTM of...

Finance
Q

XYZ Corporation, a leading manufacturing company, is grappling with significant challenges in the realm of...

Accounting