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    Overhead Variances for Rivera Company

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    Overhead Variances
    Consider the following data for the Rivera Company:

    Factory Overhead

    Fixed Variable

    Actual incurred $14,200 $13,300

    Budget for standard hours allowed
    for output achieved 12,500 11,000

    Applied 11,600 11,000

    Budget for actual hours of input 12,500 11,400

    From the above information, fill in the blanks below. Be sure to mark your variances F for favorable
    and U for unfavorable.

    a. Flexible-budget variance $______ Fixed $______Variable $______
    b. Production-volume variance $______ Fixed $______Variable $______
    c. Spending variance $______ Fixed $______Variable $______
    d. Efficiency variance $______ Fixed $______Variable $______.

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    Fixed Variable
    Actual incurred 14200 13300
    Budget for standard hours for output achieved 12500 11000
    Applied 11600 11000
    Budget for actual input 12500 11400

    Total Fixed variable Variable
    Flexible ...

    Solution Summary

    The solution discusses overhead variances for Rivera Company.