The Following Information Relates to the Month of April for the Kennedy

question 81

Essay

The following information relates to the month of April for The Kennedy Manufacturing Company, which uses a standard cost accounting system.
$\begin{array}{lrr}\text {Actual total direct labor}&\$43,400\\\text {Actual direct labor hours used}&14,000\\\text {Standard hours allowed for actual output}&15,000\\\text { Variable overhead price variance - unfavorable }&\$1,400\\\text { Actual total overhead } & \$ 32,000 \\\text { Budgeted fixed costs } & \$ 9,000 \\\text { Normal activity in hours } & 12,00 \\\text { Total overhead application rate per DLH } & \$ 2.25\end{array}$

Required:
(Be sure to indicate whether the variances are favorable or unfavorable.)
a. What is the variable overhead efficiency variance?
b. What is the fixed overhead spending variance?
c. What is the fixed production volume variance?

Comprehend the structure and importance of agendas in effective meeting management.

Recognize the personal motivations for individuals joining groups or teams.

Grasp the concept of team stages of development and their importance in team dynamics.

Learn strategies for conducting effective meetings, including how to handle off-topic discussions.

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Definitions:

U-Shape

A graphical representation describing a relationship or phenomenon that decreases, reaches a minimum point, and then increases, resembling the letter "U."

Economies of Scale

Reduction in per unit cost as the volume of production increases, due to factors like bulk purchasing and efficient use of resources.

Technological Change

The overall process of invention, innovation, and diffusion of technology or processes.

Returns to Scale

The rate at which output increases in response to proportional increases in all inputs or resources, reflecting the production efficiency of a firm.