Reference no: EM133025083
Question - A manufacturing company has a standard costing system based on machine hours (MHs) as the measure of activity. Data from the company's flexible budget for manufacturing overhead are given below:
Budgeted/denominator level of activity 3,700 MHs
Overhead costs at the denominator activity level:
Variable overhead cost $28,490
Fixed overhead cost $47,545
The following data pertain to operations for the most recent period:
Actual hours 3,900 MHs
Standard hours allowed for the actual output 3,850 MHs
Actual total variable overhead cost $29,445
Actual total fixed overhead cost $47,995
Required -
1) What is the overall predetermined factory overhead rate to the nearest cent?
2) How much overhead was applied to products during the period to the nearest dollar?
3) What was the variable overhead spending variance for the period to the nearest dollar?
4) What was the variable overhead efficiency variance for the period to the nearest dollar?
5) What was the fixed overhead flexible budget variance for the period to the nearest dollar?
6) What was the fixed overhead production volume variance for the period?
7) What was the fixed overhead spending variance for the period to the nearest dollar?
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