Meridian Fashions uses standard costs for their manufacturing division. The allocation base for overhead costs is direct labor hours. From the following data, calculate the fixed overhead cost variance.
Actual fixed overhead $ 32,000
Budgeted fixed overhead $ 22,000
Standard overhead allocation rate $ 8
Standard direct labor hours per unit 2 DLHr
Actual output 2,300 units
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Meridian Fashions uses standard costs for their manufacturing division. The allocation base for overhead costs is direct labor hours. From ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Which of the following would constitute contractionary monetary policy by the Fed? a. Open market sales of government securities, an increase in the discount rate, and an increase in reserve requirements b.
Answers (1)
Payne Company reported the following information for the current year: Sales $ 840,000 Average operating assets $ 340,000 Desired ROI 12 % Net income $ 54,000 The company's residual income was: Multiple Choice $40,800. $6,000. $13,200. $19,200.
Answers (1)
Which of the following are examples of debt overhang? Which examples are likely to lead to a cutback in spending? a. Your uncle starts a restaurants, borrowing to fund his investment.
Answers (1)
On December 31, Key Co. received two $10,000 noninterest-bearing notes from customers in exchange for services rendered. The note from Alpha Co., which is due in 9 months, was made under customary trade terms, but the note from Omega Co.
Answers (1)
Is the extent to which a good or service is perceived by its customer to meet his or her needs or wants and is measured by a customer's willingness to pay for it. a. Price b. Value C. Cost d. Credit
Answers (1)
New Questions in Business
Does it cost money to enter into the warm springs?
Answers (2)
Frazier Manufacturing Company collected the following production data for the past month: Units Produced Total Cost 1,600 $44,000 1,300 38,000 1,500 42,000 1,100 33,000 If the high-low method is used, what is the monthly total cost equation
Answers (1)
In the context of the various roles employees take up in an organization, who among the following is most likely to spend a lot of their time listening?
Answers (1)
Because email, chat, and text messages are less formal methods of communication, good technical writing skills are less important for these messages. O True O False
Answers (1)
Several years ago, the United States went to war with Iraq. This led to an increase in government expenditures and a decrease in private consumption and investment. What is the total effect of these circumstances on aggregate demand?
Answers (1)