Reference no: EM132551191
The following selected information was extracted from the accounting records of Comprehensive Technologies, Inc.:
Planned manufacturing activity: 70,000 machine hours
Standard variable-overhead rate per machine hour: $10
Budgeted fixed overhead: $125,000
Variable-overhead spending variance: $94,500U
Variable-overhead efficiency variance: $88,500F
Fixed-overhead budget variance: $27,500U
Total actual overhead: $680,000
Required:
Question 1: Determine the following: actual fixed overhead, actual variable overhead, actual machine hours worked, standard machine hours allowed for actual production, and the fixed-overhead volume variance. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).)
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