Question :
11) What the amount of fixed overhead allocated to production? : 1212152
11) What is the amount of fixed overhead allocated to production?
A) $51,060
B) $50,500
C) $50,600
D) $55,500
12) What is the fixed overhead spending variance?
A) $560 unfavorable
B) $100 favorable
C) $100 unfavorable
D) $560 favorable
Answer the following questions using the information below:
Sport-in Corporation manufactured 10,000 golf bags during April. The following fixed overhead data pertain to March:
ActualStatic Budget
Production20,000 units20,500 units
Machine-hours5,100 hours6,150 hours
Fixed overhead cost for March$250,000$258,300
13) What is the flexible-budget amount?
A) $250,000
B) $200,500
C) $258,300
D) $204,700
14) What is the amount of fixed overhead allocated to production?
A) $252,000
B) $257,000
C) $256,250
D) $244,000
15) What is the amount of fixed overhead spending variance?
A) $8,300 unfavorable
B) $2,000 favorable
C) $2,000 unfavorable
D) $8,300 favorable
16) Which of the following statements is true of fixed overhead variances?
A) The difference between actual costs and static budget costs will give the production volume variance.
B) The difference between actual costs and static budget costs will always be nil.
C) The difference between actual costs and flexible budget costs will give the production volume variance.
D) The difference between flexible budget costs and static budget costs will always be nil.
17) Which of the following is the correct mathematical expression to calculate the fixed overhead production-volume variance?
A) static-budget amount − flexible-budget amount
B) flexible-budget amount − actual costs incurred
C) actual costs incurred − fixed overhead allocated for actual output
D) budgeted fixed overhead − fixed overhead allocated for actual output
18) Which of the following journal entries is used to record fixed overhead costs allocated?
A) Fixed Overhead Allocated
Work-in-Process Control
B) Work-in-Process Control
Fixed Overhead Allocated
C) Fixed Overhead Control
Work-in-Process Control
D) Fixed Overhead Allocated
Fixed Overhead Control
19) Bismith Company reported:
Actual fixed overhead$500,000
Fixed manufacturing overhead spending variance$30,000 unfavorable
Fixed manufacturing production-volume variance$20,000 unfavorable
To record the write-off of these variances at the end of the accounting period, Bismith would ________.
A) credit Fixed Manufacturing Overhead Allocated for $500,000
B) debit Fixed Manufacturing Overhead Spending Variance for $30,000
C) credit Fixed Manufacturing Production-Volume Variance for $20,000
D) debit Fixed Manufacturing Control for $500,000
20) Radon Corporation manufactured 33,000 grooming kits for horses during March. The following fixed overhead data pertain to March:
ActualStatic Budget
Production33,000 units30,000 units
Machine-hours6,100 hours6,000 hours
Fixed overhead costs for March$153,000$144,000
What is the fixed overhead production-volume variance?
A) $9,000 unfavorable
B) $14,400 favorable
C) $14,400 unfavorable
D) $9,000 favorable
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