Calculating Fixed Manufacturing Overhead Spending, Volume Variances
Slim Shady Company (SSC) in E10-14 calculates a fixed overhead rate based on budgeted fixed overhead of $30,000 and budgeted production of 24,000 units. Actual results were as follows:
Number of units produced and sold | 25,000 |
Actual fixed overhead | $29,000 |
Required:
Calculate the following for SSC:
1.Fixed overhead rate based on budgeted production.
2. Fixed overhead spending variance.
3. Fixed overhead volume variance.
4. Over- or underapplied fixed overhead.
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