Calculating Fixed Manufacturing Overhead Volume Variances
ClearView Company calculates a fixed overhead rate based on budgeted fixed overhead of $180,000 and budgeted production of 600,000 units. Actual results were as follows:
Number of units produced and sold | 625,000 |
Actual fixed overhead | $195,000 |
Required:
Calculate the following for ClearView:
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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