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Need help with Managerial Accounting homework assignment.

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Pisces
Posts: 905 - Karma: 13
So we just started managerial accounting 2 weeks ago in my dual financial/managerial class and the teacher is horrendous. Like seriously I've never had a worse professor in my life. He doesn't explain anything and we basically are teaching ourselves stuff. I can't figure out a lot of this assignment but there are a few problems similar to this one and I'm hoping that figuring out how to do this one will give me an idea for the others.

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Geschke Corporation, which produces commercial safes, has provided the above data. The variable overhead efficiency variance for supplies is:
A.$10,947 F
B.$119 U
C.$10,947 U
D.$119 F

I've tried multiple equations and stuff and I can;t seem to get a number matching those ones. Any help would be awesome
Apr 11 2010 3:18PM
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feihlination
Posts: 8356 - Karma: 1,084
stuff is kinda different here, but it just jumped into my eye that the budgeted production (100%) is lower than the actual production. from what i know you have to keep that in mind and include the +2.something % somewhere.
Apr 11 2010 4:05PM
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Steeze_Cake
Posts: 613 - Karma: 16
The answer is D.
Apr 11 2010 4:08PM
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Barefootin_Fiend
Posts: 7618 - Karma: 4,727
Well, 8,700 safes should have cost you (according to your standard costs) 9.1*1.7*8700=$134,589. In reality 8,700 safes only cost you $123,642. $134,589 calculated cost - $123,642 actual cost = $10,947.

Hope that helps.
Apr 11 2010 5:45PM
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Pisces
Posts: 905 - Karma: 13
yeah i'm hoping that did. thats the first time ive gotten a number equal to one of the choices, and i applied the same reasoning to another problem and got one of the answers as well. i was definitely plugging the wrong numbers in before, but i understand what goes where now. thanks a ton
Apr 11 2010 6:39PM
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leahey
Posts: 2548 - Karma: 32
C
Apr 11 2010 6:46PM
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Mr.Luke
Posts: 2441 - Karma: 166
Just put E=Mc2.   you can't go wrong
Apr 11 2010 6:50PM
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Commonwealth
Posts: 3729 - Karma: 11
Funny, looks like a problem right out of my notes packet from my class last semester! Formatting-wise, that is...my prof was obsessed with "widgets". Everything was "A company produces 5,600 widgets in the widget factory".

Anyways, slim provided a good explanation.
Apr 11 2010 7:43PM
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anTii_SteeZe
Posts: 610 - Karma: 53
C
Apr 11 2010 7:49PM
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