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Calculate the fixed overhead spending variance for HMC

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Reference no: EM132517334

Question - Haines Manufacturing Company (HMC) bases its fixed overhead rate on practical capacity of 25,000 units per year. Budgeted and actual results for the most recent year follow:

 

Budgeted

Actual

Fixed manufacturing overhead

$675,000

$621,000

Number of units produced

17,000

20,000

Required -

1. Calculate the fixed overhead rate based on practical capacity for HMC.

2. Calculate the fixed overhead spending variance for HMC.

3. Calculate the expected (planned) capacity variance for HMC.

4. Calculate the unexpected (unplanned) capacity variance for HMC.

5. Calculate the total over- or underapplied fixed manufacturing overhead for HMC.

Reference no: EM132517334

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