accounting overhead controllable variance overhead volume variance calculations 404621
Please calculate the Overhead Controllable Variance and the Overhead Volume Variance from the following information. I need to know HOW you came up with this info, so I can backtrack the solution.
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Dinkel Manufacturing Corporation accumulates the following data relative to jobs started and finished during the month of June 2012.
|
Costs and Production Data |
Actual |
Standard |
| Raw materials unit cost | $2.25 | $2.00 |
| Raw materials units used | 10,600 | 10,000 |
| Direct labor payroll | $122,400 | $120,000 |
| Direct labor hours worked | 14,400 | 15,000 |
| Manufacturing overhead incurred | $184,500 | |
| Manufacturing overhead applied | $189,000 | |
| Machine hours expected to be used at normal capacity | 42,500 | |
| Budgeted fixed overhead for June | $51,000 | |
| Variable overhead rate per hour | $3.00 | |
| Fixed overhead rate per hour | $1.20 |
Overhead is applied on the basis of standard machine hours. Three hours of machine time are required for each direct labor hour. The jobs were sold for $400,000. Selling and administrative expenses were $40,000. Assume that the amount of raw materials purchased equaled the amount used.
Compute the overhead controllable variance and the overhead volume variance. PLEASE SHOW YOUR WORK! I am not just interested in the answer. I need to know how you got it.
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