Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of...

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Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 4,000 computers: Var

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Answer 1

Answer #1

(1)

Variable Factory Overhead Controllable Variance = Budgeted Variable Factory overhead - Actual Variable Factory overhead

= {4000 x ($34 - $6.75)} - $105700

= $109000 - $105700

= $3300 Favorable

(2)

Fixed Factory Overhead Volume Variance = (Standard Hours x Fixed standard rate) - Actual Fixed Factory Overhead

= (4000 x $6.75) - $40500

= $13500 Unfavorable

(3)

Total Factory Overhead Cost Variance = Standard factory Overhead - Actual Factory overhead

= (4000 x $34) - ($105700 + $40500)

= $10200 Unfavorable

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Answer 2

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