Variances - Overhead Fixed & Variable
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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
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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.
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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 - ...
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