Homework Answers
| Answer Step Wise: | ||||||
| Production volume variance: | ||||||
| The production volume variance measures the amount of overhead applied to the number of units produced. | ||||||
| It is the difference between the actual number of units produced in a period and the budgeted number of units that should have been produced, multiplied by the budgeted overhead rate. | ||||||
| Steps: | Hours | |||||
| 1 | Actual number of hours produced | 845 | ||||
| 2 | Budgeted Hours | 910 | ||||
| 1-2 | Difference | 65 | ||||
| Predertermined Overhead rate | 6 | |||||
| Production volume variance: | ||||||
| =(Actual Hours - Budgeted Hours)*Overhead Rate | ||||||
| -390 | ||||||
| Answer is $ 390. | ||||||
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