Explore BrainMass

Explore BrainMass

    Variances - Overhead Fixed & Variable

    Not what you're looking for? Search our solutions OR ask your own Custom question.

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    The following information was compiled by Georgia Company:

    Expected volume of production 50,000 units
    Actual level of production 47,500 units
    Budgeted fixed overhead $400,000
    Actual fixed overhead $415,000
    Variable overhead rate per direct-labor hour $18
    Actual variable overhead $790,000
    Standard direct�labor hours allowed
    per unit produced 1.0 hour
    Standard direct�labor rate per hour $32.00
    Actual direct�labor hours of input 46,500 hours
    Actual direct�labor rate per hour $33.00

    Compute the following variances:

    a. Variable factory overhead flexible�budget variance

    b. Fixed factory overhead flexible�budget variance

    c. Fixed factory overhead production�volume variance

    © BrainMass Inc. brainmass.com March 4, 2021, 10:11 pm ad1c9bdddf

    Solution Preview

    A Variable factory overhead flexible budget variance

    Total Variable Overhead Variance = Actual Variable Overhead - Flexible Budget for Variable Overhead
    Total Variable Overhead Variance = 790,000 - ...

    Solution Summary

    The solution provides formulas and calculation for Variable factory overhead flexible budget variance ,Fixed factory overhead flexible budget variance and Fixed factory overhead production volume variance.