Company uses standard costing. The company prepared its static budget for 2018 at 2,500,000 machine hours...
Company uses standard costing. The company prepared its static budget for 2018 at 2,500,000 machine hours for the year. Total budgeted overhead cost is $33,500,000. The variable overhead rate is $11 per machine hour ($22 per unit). Actual result for 2018 as follow:
|
Machine-hours |
2,400,000 |
hours |
|
Output |
1,230,000 |
units |
|
Variable overhead |
$27,600,000 |
|
|
Fixed overhead rate variance |
$1,350,000 |
U |
|
1. |
Calculate for the fixed overhead: |
|
|
a. |
Budgeted amount. |
|
|
b. |
Budgeted cost per machine-hour. |
|
|
c. |
Actual cost. |
|
|
d. |
Production-volume variance. |
|
|
2. |
Calculate the variable overhead rate variance and the variable overhead efficiency variance. |
|
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Company uses standard costing. The company prepared its static
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