Homework Answers
Answer-The variable overhead rate variance for the month is =$2620 Favorable.
Explanation-Variable overhead rate variance = (Standard rate –Actual rate)*Actual working hours
={$7.80 per machine hour – ($69920/9300 MHs)}*9300 machine hours
= ($7.80 per machine hour - $7.51827956989 per machine hour)*9300 machine hours
= $2620 Favorable
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