Business, 14.12.2021 02:40 brookerebman15

The following information relates to Joplin Company for the period just ended: Standard variable overhead rate per hour

$1

Standard fixed overhead rate per hour

$2

Planned monthly activity

40,000 machine hours

Actual production completed

82,000 units

Standard machine processing time

Two units per hour

Actual variable overhead

$37,000

Actual total overhead

$121,000

Actual machine hours worked

40,500

The company uses machine hours to apply variable and fixed overhead

Required:

Calculate the variable overhead variances and the fixed overhead variances.
Record the journal entries when the variances are recognized.
Record the journal entries when the variances are disposed at the end of the period.

Answers: 3

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The following information relates to Joplin Company for the period just ended: Standard variable o...

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