Crystal Glassware Company has the following standards and flexible-budget data.
Standard variable-overhead rate | $6.00 per direct-labor hour |
Standard quantity of direct labor | 2 hours per unit of output |
Budgeted fixed overhead | $100,000 |
Budgeted output | 25,000 units |
Actual results for April are as follows:
Actual output | 20,000 units |
Actual variable overhead | $320,000 |
Actual fixed overhead | $97,000 |
Actual direct labor | 50,000 hours |
Required: Use the variance formulas to compute the following variances. Indicate whether each variance is favorable or unfavorable, where appropriate.
1. Variable-overhead spending variance.
2. Variable-overhead efficiency variance.
3. Fixed-overhead budget variance.
4. Fixed-overhead volume variance.
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