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Productive capacity not used Actual Factory Applied Factory
Standard fixed FO cost rate Overhead Overhead
Variance Variable cost
Fixed cost
Total factory overhead cost variance Total
Controllable Volume
Variance Variance
for Amount Produced
Total Factory
Overhead Cost
Variance
Budgeted Factory Overhead
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a.
Price variance:
Actual price $6.50
Standard price 6.40
Variance $0.10
Quantity variance:
Actual quantity 101,000
Standard quantity 100,000
b.
Rate variance:
Actual rate per hour $15.40
Time variance:
Actual direct labor hours 2,000
Standard direct labor hours 2,080
c. Alternative Computation of Overhead Variances:
Variable factory overhead controllable variance:
Actual variable FO cost incurred 8,200$
Problem 22(7)-3B
Name:
Solution
Section:
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Instructions
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ON
Direct Materials Cost Variance
Direct Labor Cost Variance
Factory Overhead Cost Variance
Productive capacity not used (80) Actual Factory Applied Factory
Standard fixed FO cost rate $6.00 Overhead Overhead
Variance (480) favorable Variable cost $8,320
Budgeted Factory Overhead
for Amount Produced
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Normal capacity for the month: hours
Actual production for the month: hours
Budget
(at actual
production) Actual Favorable Unfavorable Alternative Computation of Overhead Variances:
Variable costs:
Indirect factory wages
Power and light Actual costs Applied costs
Indirect materials Balance
Total variable cost
Fixed costs:
Supervisory salaries
Depreciation of plant and equip. Actual Factory Applied Factory
Insurance and property taxes Overhead Overhead
Total fixed cost Variable cost
Total factory overhead cost Fixed cost
Total controllable variances Total
Net controllable variance⎯(favorable) unfavorable
Fixed Factory OH Rate
Volume variance⎯(fav.) unfav. Controllable Volume
Total factory overhead cost variance⎯(favorable) unfavorable Variance Variance
Total Factory
Overhead
Cost Variance
Supporting calculation:
Variable factory overhead rate:
Budgeted total variable cost
Budgeted hours
Variable factory overhead rate
Fixed factory overhead rate:
Total fixed costs
Productive capacity hours
Fixed factory overhead rate
Total
Actual hours
Applied costs
Budgeted Factory Overhead
for Amount Produced
TIGER EQUIPMENT INC.
Factory Overhead Cost Variance Report⎯Welding Department
For the Month Ended May 31
Variances
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Instructions
Factory Overhead
Idle (Excess) Hours
0%
Problem 22(7)-4A
Name:
Section:
Score:
Key Code:
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Normal capacity for the month: 8,400 hours
Budget
(at actual
production) Actual Favorable Unfavorable Alternative Computation of Overhead Variances:
Variable costs:
Indirect factory wages 31,896$ 32,400$ -$ 504$
Power and light 21,264 21,000 264 - Actual costs 143,050 146,190 Applied costs
Indirect materials 17,720 18,250 - 530 Balance - 3,140
Total variable cost 70,880$ 71,650$ Overapplied
Net controllable variance⎯(favorable) unfavorable 770
Fixed Factory OH Rate $770 U ($3,910) F
Cost Variance
Supporting calculation:
Variable factory overhead rate:
Budgeted total variable cost
67,200$
Budgeted hours 8,400
Variable factory overhead rate
$8.00
Factory Overhead
Idle (Excess) Hours
Score:
Instructions
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ON
TIGER EQUIPMENT INC.
Factory Overhead Cost Variance Report⎯Welding Department
For the Month Ended May 31
Variances
Problem 22(7)-4A
Name:
Solution
Section:
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Enter a zero in cells you would otherwise leave blank.
Normal capacity for the month: hours
Actual production for the month: hours
Budget
(at actual
production) Actual Favorable Unfavorable Alternative Computation of Overhead Variances:
Variable costs:
Indirect factory wages
Power and light Actual costs Applied costs
Indirect materials Balance
Total variable cost
Fixed costs:
Supervisory salaries
Depreciation of plant and equip. Actual Factory Applied Factory
Insurance and property taxes Overhead Overhead
Total fixed cost Variable cost
Total factory overhead cost Fixed cost
Total controllable variances Total
Net controllable variance⎯(favorable) unfavorable
Fixed Factory OH Rate
Volume variance⎯(fav.) unfav. Controllable Volume
Total factory overhead cost variance⎯(favorable) unfavorable Variance Variance
Total Factory
Overhead
Cost Variance
Supporting calculation:
Variable factory overhead rate:
Budgeted total variable cost
Budgeted hours
Variable factory overhead rate
Fixed factory overhead rate:
Total fixed costs
Productive capacity hours
Fixed factory overhead rate
Total
Actual hours
Applied costs
Budgeted Factory Overhead
for Amount Produced
FEELING BETTER MEDICAL, INC.
Factory Overhead Cost Variance Report⎯Assembly Department
For the Month Ended October 31
Variances
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Instructions
Factory Overhead
Idle (Excess) Hours
0%
Problem 22(7)-4B
Name:
Section:
Score:
Key Code:
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Normal capacity for the month: 30,000 hours
Actual production for the month: 28,500 hours
Budget
(at actual
production) Actual Favorable Unfavorable Alternative Computation of Overhead Variances:
Variable costs:
Fixed costs:
Supervisory salaries 126,000$ 126,000$ - -
Depreciation of plant and equip. 70,000 70,000 - - Actual Factory Applied Factory
Net controllable variance⎯(favorable) unfavorable (1,450)
Fixed Factory OH Rate ($1,450) F $12,000 U
Volume variance⎯(fav.) unfav. 1,500 $8.00 12,000 Controllable Volume
Supporting calculation:
Variable factory overhead rate:
Budgeted total variable cost
489,000$
Budgeted hours 30,000
Variable factory overhead rate
$16.30
Budgeted Factory Overhead
Idle (Excess) Hours
Score:
Instructions
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ON
FEELING BETTER MEDICAL, INC.
Factory Overhead Cost Variance Report⎯Assembly Department
For the Month Ended October 31
Variances
Problem 22(7)-4B
Name:
Solution
Section:
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a.
Manufacturing costs:
Direct labor
Direct materials
Factory overhead
Total
b.
(Favorable)
Unfavorable
Manufacturing costs:
Direct labor
Direct materials
Factory overhead
Total
c.
0%
Exercise 22(7)-3
Name:
Section:
Score:
Key Code:
Cost per
Batch of 100
Standard Cost at
Planned Volume
(400,000 bottles)
Batches
of 100
Standard Cost at Actual Volume
(406,000 bottles)
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Instructions
Manufacturing Cost Budget
For the Month Ended July 31
GENIE IN A BOTTLE COMPANY
GENIE IN A BOTTLE COMPANY
Manufacturing Costs⎯Budget Performance Report
For the Month Ended July 31
[Key essay answer here]
Cost Variance
Cost per
Batch of 100
Batches
of 100
Actual
Costs
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a.
Manufacturing costs:
Direct labor 4,000 $2.00 8,000$
b.
(Favorable)
Unfavorable
Manufacturing costs:
Direct labor 7,540$ 4,060 $2.00 8,120$ (580)$
Direct materials 35,750 4,060 $9.10 36,946 (1,196)
Instructions
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ON
Exercise 22(7)-3
Name:
Solution
Section:
Score:
Standard Cost at Actual Volume
(406,000 bottles)
Cost Variance
Batches
of 100
Cost per
Batch of 100
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GENIE IN A BOTTLE COMPANY
Manufacturing Costs⎯Budget Performance Report
For the Month Ended July 31
Actual
Costs
GENIE IN A BOTTLE COMPANY
Manufacturing Cost Budget
For the Month Ended July 31
Standard Cost at
Planned Volume
(400,000 bottles)
Cost per
Batch of 100
Batches
of 100
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Alternative Computation of Overhead Variances:
a. Controllable variance:
Actual variable factory overhead
Standard variable factory overhead Actual costs Applied costs
at actual production: Balance
Standard hours at actual production
Variable factory overhead rate
Standard variable factory overhead
Controllable variance⎯ Actual Factory Applied Factory
Overhead Overhead
b. Volume variance: Variable cost
Volume at 100% of normal capacity Fixed cost
Less standard hours Total
Idle capacity
Fixed overhead rate
Volume variance⎯
Controllable Volume
Total factory overhead cost variance⎯
Variance Variance
Total Factory
Overhead
Cost Variance
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Instructions
0%
Score:
Factory Overhead
Budgeted Factory Overhead
for Amount Produced
Exercise 22(7)-18
Name:
Section:
Key Code:
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Alternative Computation of Overhead Variances:
a. Controllable variance:
Actual variable factory overhead 542,000$
Standard variable factory overhead Actual costs 782,000 777,000 Applied costs
at actual production: Balance 5,000 -
Overhead Overhead
b. Volume variance: Variable cost $555,000
Volume at 100% of normal capacity 100,000 $782,000 Fixed cost 240,000 $777,000
Less standard hours 92,500 Total $795,000
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ON
Factory Overhead
for Amount Produced
Exercise 22(7)-18
Name:
Solution
Section:
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Productive capacity for the month: hours
Actual productive capacity used for the month: hours
Budget
(at actual
production) Actual Favorable Unfavorable Alternative Computation of Overhead Variances:
Variable factory overhead costs:
Indirect factory labor
Power and light Actual costs Applied costs
Indirect materials Balance
Total
Fixed factory overhead costs:
Supervisory salaries
Depreciation of plant and equip. Actual Factory Applied Factory
Insurance and property taxes Overhead Overhead
Total Variable cost
Total factory overhead cost Fixed cost
Total controllable variances Total
Net controllable variance⎯(favorable) unfavorable
Idle Hours
Volume variance⎯(fav.) unfav. Controllable Volume
Total factory overhead cost variance⎯(favorable) unfavorable Variance Variance
Total Factory
Overhead
Cost Variance
Supporting calculation:
Variable factory overhead rate:
Budgeted total variable cost
Budgeted hours
Variable factory overhead rate
Fixed factory overhead rate:
Total fixed costs
Productive capacity hours
Fixed factory overhead rate
Total
Actual hours
Applied costs
Exercise 22(7)-20
Name:
Section:
0%
Score:
Key Code:
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Instructions
Fixed Factory OH Rate
Factory Overhead
Budgeted Factory Overhead
for Amount Produced
TANNIN PRODUCTS INC.
Factory Overhead Cost Variance Report⎯Trim Department
For the Month Ended July 31, 2016
Variances
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Productive capacity for the month: 25,000 hours
Actual productive capacity used for the month: 22,000 hours
Budget
(at actual
production) Actual Favorable Unfavorable Alternative Computation of Overhead Variances:
Variable factory overhead costs:
Indirect factory labor 50,600$ 49,700$ 900$ -$
Fixed factory overhead costs:
Supervisory salaries 54,500$ 54,500$ - -
Depreciation of plant and equip. 40,000 40,000 - - Actual Factory Applied Factory
Net controllable variance⎯(favorable) unfavorable 900
Cost Variance
Supporting calculation:
Variable factory overhead rate:
Budgeted total variable cost
78,000$
Budgeted hours 20,000
Variable factory overhead rate
$3.90
Fixed factory overhead rate:
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Instructions
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ON
Exercise 22(7)-20
Name:
Solution
Section:
Budgeted Factory Overhead
TANNIN PRODUCTS INC.
Factory Overhead Cost Variance Report⎯Trim Department
For the Month Ended July 31, 2016
Variances
Factory Overhead
