Financial Accounting > QUESTIONS & ANSWERS > ACCT 3310 Managerial Accounting - University of Memphis - The (partial) cost sheet for the single pr (All)

ACCT 3310 Managerial Accounting - University of Memphis - The (partial) cost sheet for the single product manufactured at Briarcliff Corporation follows: a. What was the variable overhead efficiency variance? b. What was the fixed overhead price variance? c. What was the fixed overhead production volume variance?

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ACCT 3310 Managerial Accounting - University of Memphislevel of production is 45,000 direct labor-hours, which is also the production volume used to compute the fixed overhead application rate. Other ... information available for operations over the past accounting period include the following: Actual variable overhead incurred $ 411, 000 Actual fixed overhead incurred 463 , 000 Direct labor efficiency variance 63, 000 F Variable overhead price variance 6,000 U Required: a. What was the variable overhead efficiency variance? b. What was the fixed overhead price variance? c. What was the fixed overhead production volume variance? Note: For all requirements, indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. a. Variable overhead efficiency variance b. Fixed overhead price variance c. Fixed overhead production volume variance [Show More]

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