The Following Information Relates to Joplin Company for the Period

question 15

Essay

The following information relates to Joplin Company for the period just ended: $\begin{array}{ll}\text { Standard variable overhead rate per hour } & \$ 1 \\\text { Standard fixed-overhead rate per hour } & \$ 2 \\\text { Planned monthly activity } & 40,000 \text { machine hours } \\\text { Actual production completed } & 82,000 \text { units } \\\text { Standard machine processing time } & \text { Two units per hour } \\\text { Actual variable overhead } & \$ 37,000 \\\text { Actual total overhead } & \$ 121,000 \\\text { Actual machine hours worked } & 40,500\end{array}$
All of the company's overhead is variable or fixed in nature.
Required:
A. Calculate the spending and efficiency variances for variable overhead.
B. Calculate the budget and volume variances for fixed overhead.

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Definitions:

Training

The process of teaching or learning specific skills or behaviors, often aimed at improving performance in a certain area.

Client Weaknesses

Areas in which a client may have difficulties or limitations, often identified in therapy or counseling to address and improve upon.

Treatment Goals

Objectives set during therapeutic interventions aiming to address and resolve specific mental health issues.

Transtheoretical Stages

The stages of change within the Transtheoretical Model, including precontemplation, contemplation, preparation, action, and maintenance.