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Edit View History People Window Help Secure https://www.mathxl layerTest.aspx?testid-165025257& centerwinsyes Cost Accounting- Fail 2017- Final Quiz: Chapter 8 Quiz This Question: 1 pt 4-20f 4 (2 complete) This Quiz Pandom, Inc, produces chemicals for large biotech companies It has the following data for manufacturing overhead oosts during August 2017 Fil in the blanks. Use F for favorable and U for unfavorable: (Click the icon to view the table.) Variable Fixed Actual costs incurred Costs alocated to products Flexible budget Actual input x budgeted rate $31,800 $13,000 33,000 13,800 -12.600 31,600 (If no variance exdists leave the dollar value blank. Label the variance as favorable (F), unfavorable (U) or never a variance (N)) Variable Fixed (1) Spending variance (2) Eficiency varianoe 4) Flexible-budget variance manufacturing overhead Choose from any list or enter any number in the input fields and then continue to the next question 8 MacBook Air

Explanation / Answer

Variable Fixed 1 Spending variance 1500 F 800 F 2 Efficiency Variance 1400 U Not possible 3 Production volume variance Not possible 1200 U 4 Flexible budget variance 100 F 800 U 5 Underallocated/(Overallocated) 100 F 400 U Manufacturing overhead Variable overhead Actual Input*Budgeted rate Cost allocated to Products Actual cost Incurred 31600 33000 31500 Efficiency Variance Spending Variance =31600-33000 =33000-31500 -1400 Unfavourable 1500 Favourable Flexible budget variance =31600-31500 100 Favourable Fixed overhead Actual Input*Budgeted rate Cost allocated to Products Actual cost Incurred 12600 13800 13000 Volume Variance Spending Variance =12600-13800 =13800-13000 -1200 Unfavourable 800 Favourable Flexible budget variance =13800-13000 800 Favourable

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