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Standard Cost System/Overhead Variances

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Study Appendix 13 The Winnipeg Chemical Company uses flexible budgets and a standard cost system.

? Direct-labor costs incurred, 12,000 hours, $150,000
? Variable-overhead costs incurred, $37,000
? Fixed-overhead flexible-budget variance, $1,600, favorable
? Finished units produced, 1,800
? Fixed-overhead costs incurred, $38,000
? Variable overhead applied at $3 per hour
? Standard direct-labor cost, $13 per hour
? Denominator production per month, 2,000 units
? Standard direct-labor hours per finished unit, 6 hours.

Prepare an analysis of all variances (similar to exhibit 13-11 which is attached).

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This solution is comprised of a detailed explanation and step-by-step calculations in an Excel file to prepare an analysis of all variances (similar to exhibit 13-11 which is attached) for The Winnipeg Chemical Company.

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Standard Cost System/Overhead Variances

Study Appendix 13 (which is attached) The Winnipeg Chemical Company uses flexible budgets and a standard cost system.

? ...

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