Analyze the Overhead Variance (Appendix): Martinez Company estimates manufacturing overhead to be $80,000+ (.60 x Direct labor
Question:
Analyze the Overhead Variance (Appendix): Martinez Company estimates manufacturing overhead to be $80,000+ (.60 x Direct labor costs). Direct labor costs are estimated to be $100,000 for Year 1. The actual manufacturing overhead costs for Year I were $150,000. The actual direct labor costs were $120,000.
Required:
a. What is the expected total overhead for each of the following activity levels: 1. $80,000? 2. $100,000? 3. $120,000?
b. How much is the under- or overapplied overhead for Year 1?
c. How much is the spending variance? The production volume variance?
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