Prepare an analysis of all variances
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The Princeton Company uses flexible budgets and a standard cost system.
â?¢ Direct-labor costs incurred, 12,000 hours, $150,000
â?¢ Variable-overhead costs incurred, $37,000
â?¢ Fixed-overhead flexible-budget variance, $1,600, favorable
â?¢ Finished units produced, 1,800
â?¢ Fixed-overhead costs incurred, $38,000
â?¢ Variable overhead applied at $3 per hour
â?¢ Standard direct-labor cost, $13 per hour
â?¢ Denominator production per month, 2,000 units
â?¢ Standard direct-labor hours per finished unit, 6 hours
Prepare an analysis of all variances (similar to Exhibit 13-11, p. 614).
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Solution Summary
I presume that Exhibit 13-11 is overhead variances! Solution is in Excel and formulas are in cells. I added some notes. This was a puzzle!
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