Homework: chapter 8 HW Score: 0 of 15 pts E8-26 (similar to Save 6 of 6 (0 compl

ID: 2521681 • Letter: H

Question

Homework: chapter 8 HW Score: 0 of 15 pts E8-26 (similar to Save 6 of 6 (0 complete) Hw Score: 0%, 0 of 135 pts Question Help Purefoy, Inc., produces chemicals for large biotech companies. It has the following data for manufacturing overhead costs during August 2017 Requirement Fill in the blanks. Use F for favorable and U for unfavorable: Variable Fixed (Click the icon to view the table.) Actual costs incurred Costs allocated to products Flexible budget Actual input x budgeted rate $34,500 $14,500 32,000 14,800 15,400 32,200 (If no variance exists leave the dollar value blank. Label the variance as favorable (F), unfavorable (U) or never a variance (N).) Variable More Info (1) Spending variance (2) Efficiency variance (3) Production-volume variance (4) Flexible-budget variance (5) Underallocated (overallocated) Variable Fixed (1) Spending variance (2) Efficiency variance (4) Flexible-budget variance manufacturing overhead Print Done Choose from any list or enter any number in the input fields and then click Check Answer part Clear All Check Answer

Explanation / Answer

Variance

Fixed

Spending Variance

Actuals- Budgeted

34500-32200

14500-15400

2300(F)

-900(U)

Efficiency variance

Production Volume Variance

Flexible budget variance

Flexible budget- actuals

0-34500

15400-14500

-34500(U)

900(F)

Under allocated Manf OH

Note:

As the units produced during the period and budgeted units during the period were not given, Calculation of Efficiency variance and Production volume varianace is not possible.