Homework Answers
(1)
predetermined overhead rate = planned overheads/planned production
= $465500/350000
= $1.33
(2)
total fixed cost spending variance = actual fixed overheads - budgeted fixed overheads
= $457500 - (358000 x $1.33)
= -$18640 Favorable
(3)
total fixed cost volume variance = predetermined overhead rate x (actual output - budgeted output)
= $1.33 x (358000 - 350000)
= $10640 Unfavorable
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