Please do not give solution in image format thanku Shaw Incorporated began this period with a budget for 1,200 units of predicted production. The budgeted overhead at this practivity follows. At period-end, total actual overhead was $114,000, and actual units produced were 1,100. The company applie.overhead with a standard of 3 DLH per unit and a standard overhead rate of $30 per DLH.Variable overheadFixed overheadTotal overhead$ 60,00050,000$ 110,000a. Compute controllable variance.b. Compute volume variance..Complete this question by entering your answers in the tabs below.Required A Required BCompute volume variance. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.)Volume VarianceBudgeted (flexible) overhead at units producedStandard overhead appliedVolume variance< Required ARequired B Shaw Incorporated began this period with a budget for 1,200 units of predicted production. The budgeted overhead at this predictedactivity follows. At period-end, total actual overhead was $114,000, and actual units produced were 1,100. The company appliesoverhead with a standard of 3 DLH per unit and a standard overhead rate of $30 per DLH.Variable overheadFixed overheadTotal overhead$ 60,00050,000$ 110,000a. Compute controllable variance.b. Compute volume variance.Complete this question by entering your answers in the tabs below.Required A Required BCompute controllable variance. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.)Controllable VarianceActual total overheadBudgeted (flexible) overhead at units producedControllable varianceS$Required A114,000110,0004,000 UnfavorableRequired B >

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Description: Please do not give solution in image format thanku Shaw Incorporated began this period with a budget for 1,200 units of predicted production. The budgeted overhead at this practivity follows. At period-end, total actual overhead was $114,000, and act

The variance arises when the actual results deviates from the budgeted results. The variance is used…

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Shaw Incorporated began this period with a budget for 1,200 units of predicted production. The budgeted overhead at this pr activity follows. At period-end, total actual overhead was $114,000, and actual units produced were 1,100. The company applie overhead with a standard of 3 DLH per unit and a standard overhead rate of $30 per DLH. Variable overhead Fixed overhead Total overhead $ 60,000 50,000 $ 110,000 a. Compute controllable variance. b. Compute volume variance. Complete this question by entering your answers in the tabs below.

Shaw Incorporated began this period with a budget for 1,200 units of predicted production. The budgeted overhead at this pr activity follows. At period-end, total actual overhead was $114,000, and actual units produced were 1,100. The company applie overhead with a standard of 3 DLH per unit and a standard overhead rate of $30 per DLH. Variable overhead Fixed overhead Total overhead $ 60,000 50,000 $ 110,000 a. Compute controllable variance. b. Compute volume variance. Complete this question by entering your answers in the tabs below.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter10: Standard Costing And Variance Analysis

Section: Chapter Questions

Problem 72P: Moleno Company produces a single product and uses a standard cost system. The normal production...

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The fixed overhead budgeted for Ranier Industries at an expected capacity of 500,000 units is 1,500,000. Variable costing is used internally, and the net income is adjusted to an absorption costing net income at year-end. Data collected over the last three years show the following: Determine the adjustment each year to convert the variable costing income to absorption costing net income. Compute the absorption costing net income for each year.
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Moleno Company produces a single product and uses a standard cost system. The normal production volume is 120,000 units; each unit requires 5 direct labor hours at standard. Overhead is applied on the basis of direct labor hours. The budgeted overhead for the coming year is as follows: At normal volume. During the year, Moleno produced 118,600 units, worked 592,300 direct labor hours, and incurred actual fixed overhead costs of 2,150,400 and actual variable overhead costs of 1,422,800. Required: 1. Calculate the standard fixed overhead rate and the standard variable overhead rate. 2. Compute the applied fixed overhead and the applied variable overhead. What is the total fixed overhead variance? Total variable overhead variance? 3. CONCEPTUAL CONNECTION Break down the total fixed overhead variance into a spending variance and a volume variance. Discuss the significance of each. 4. CONCEPTUAL CONNECTION Compute the variable overhead spending and efficiency variances. Discuss the significance of each.