The cost formulas for variable overhead costs in a machining operation are as follows: During August, the

Question:

The cost formulas for variable overhead costs in a machining operation are as follows: Variable overhead costs Power Set-up time Polishing wheels Maintenance Total variable overhead cost Cost

During August, the machining operation was scheduled to work 11,250 machine-hours and to produce 4,500 units of product. The standard machine time per unit of product is 2.5 hours. A strike near the end of the month forced a cutback in production. Actual results for the month were: Actual machine-hours worked Actual number of units produced Actual costs for the month were: Variable

Required
Prepare an overhead performance report for the machining operation for August. Use column headings in your report as shown below: Cost Overhead formula (per costs machine-hour) Actual cost incurred 9,250 machine-hours Budget costs on ?