Solution-Discuss what is the fixed overhead volume variance

Discuss what is the fixed overhead volume variance

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Reference no: EM131728788

The Singapore division of a Canadian telecommunications company uses standard costing for its labor-based production of telephone equipment. Data regarding production during 2013 are as follows:

Variable manufacturing overhead costs incurred	$618,840
Standard variable manufacturing overhead cost rate (price)	$8 per standard labor hour
Fixed manufacturing overhead costs incurred	$145,790
Fixed manufacturing overhead costs budgeted	$144,000
Denominator activity in direct labor hours	72,000
Standard direct labor hours allowed per unit of output	1.2
Units of product produced in 2013	65,500
Actual direct labor hours used in 2013	76,400
Beginning and ending work-in-process inventory	0

What is the fixed overhead volume variance for 2013? If the variance is favorable, enter a capital F after your number with a space between the number and the F (i.e., 10,000 F). If the variance is unfavorable, enter a capital U after your number with a space between the number and the U (i.e., 10,000 U). Do not use decimals in your answer.

Reference no: EM131728788

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Discuss what is the fixed overhead volume variance

Reference no: EM131728788

Reference no: EM131728788

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