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Compute the variable overhead spending variance

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Problem - Bronfenbrenner Co. uses a standard cost system for its single product in which variable overhead is applied on the basis of direct labor hours. The following information is given:

Standard costs per unit:

 

Raw materials (1.5 grams at $16 per gram)

$24.00

Direct labor (0.75 hours at $8 per hour)

$6.00

Variable overhead (0.75 hours at $3 per hour)

$2.25

Actual experience for current year:

 

Units produced

22,400 units

Purchases of raw materials (21,000 grams at $17 per gram)

$357,000

Raw materials used

33,400 grams

Direct labor (16,750 hours at $8 per hour)

$134,000

Variable overhead cost incurred

$48,575

Compute the Variable overhead spending variance and variable overhead efficiency variance assuming that the price variance for materials is recognized at point of purchase.

Reference no: EM131753209

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