Homework Answers
Solution:
Required A.
Fixed overhead price variance = Actual fixed overhead - Budgeted fixed OH
= $932,000 - 947,970
= $(15,970)
= $15,970 (F)
Computation for fixed OH production volume variance :
So, fixed OH production volume variance = Applied fixed OH - Budgeted fixed OH
= 343,600× $2.70 - $947,970
= $20,250 (U)
Required B.
Budgeted production for the month = Budgeted fixed OH / fixed OH rate
= $947,970 / 2.70 = 351,100 units
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The following information is available for a recent month:
The denominator activity of 9,570 machine-hours is used to
compute the predetermined overhead rate.
At a denominator activity of 9,570 machine-hours, the company
should produce 3,300 units of product.
The company’s actual operating results were:
Number of units produced
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Actual machine-hours
10,090
Actual variable manufacturing overhead cost
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