Answer:
Solution a: |
Standard rate of variable overhead = $115,000 / 46000 = $2.50 per hour |
Variable factory overhead controllable variance = Actual variable overhead costs - Standard variable overhead costs |
=($196,600 - $79,300) - (48000*$2.50) |
= -$2,700 Favorable |
b) |
Fixed overhead rate = $79,300 / 61000 = $1.30 per hour |
Fixed overhead volume variance = Budgeted fixed overhead - Fixed overhead applied= $79,300 -(48000*$1.30) = $16,900 Unfavorable |
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