Two-Way and Three- Way Overhead Variances (Appendix A): UBC Inc. incurred total overhead costs of $178,360 during
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Two-Way and Three- Way Overhead Variances (Appendix A): UBC Inc. incurred total overhead costs of $178,360 during the month when 4,100 hours were worked. The normal workload for the company is 4,000 hours. The flexible budget for the output attained this period indicates that 4,300 hours were allowed. Standard costs per hour are as follows:
Fixed overhead cost $2,170 more than budgeted.
Required:
a. Total over/underapplied overhead, assuming full absorption costing is used.
b. Two-way analysis of overhead variances.
c. Three-way analysis of overhead variances.
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