weather all products uses standard costing 544770
Overhead Variances
SE 8. Weather all Products uses standard costing. The following information about overhead was generated during August:
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|
Standard variable overhead rate |
$3.00 per machine hour |
|
Standard fixed overhead rate |
$3.10 per machine hour |
|
Actual variable overhead costs |
$680,100 |
|
Actual fixed overhead costs |
$698,800 |
|
Budgeted fixed overhead costs |
$700,000 |
|
Standard machine hours per unit produced |
12 |
|
Good units produced |
18,940 |
|
Actual machine hours |
228,400 |
Compute the variable overhead spending and efficiency variances and the fixed overhead budget and volume variances.
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