Managerial Accounting
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Semaan Corporation applies manufacturing overhead to products on the basis of standard machine-hours. Budgeted and actual overhead costs for the month appear below:
Original Budget Actual Costs
Variable overhead costs:
Supplies 11,340 12,850
Indirect labor 15,120 17,080
Fixed overhead costs:
Supervision 14,900 14,640
Utilities 5,800 6,010
Factory depreciation 9,700 9,410
Total overhead cost 56,860 59,990
The company based its original budget on 2,700 machine-hours. The company actually worked 2,960 machine-hours during the month. The standard hours allowed for the actual output of the month totaled 3,030 machine-hours. What was the overall fixed overhead budget variance for the month?
3,130 favorable
3,130 unfavorable
340 unfavorable
340 favorable
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Solution Summary
Solution contains computation of overall fixed overhead budget variance for the month.
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