4) With respect to variable overhead, calculate the following relating to their operating results for the year.

Remember Phoenix Company applies overhead (variable and fixed) based on direct labor hours. Therefore, the total quantity of input (hours) for variable overhead will equal those of direct labor. Calculate an average variable overhead actual rate as variable overhead expenses divided by direct labor hours (actual).

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Phoenix Company Standard Cost Card - Current Year (2019) Qty per Cost per Unit Input Direct materials 4.00 lbs. $15.0000 Direct labor 1.2396 hrs. 12.10 Variable Overhead 1.2396 hrs. X $7.2598 Std. Cost per Unit (a) $60.0000 $15.0000 $9.0000 Actual Variable OH Costs AH AR Variable Overhead Variances Flexible Budget AH X SR Standard Cost (VOH applied) SH SR X Favorable/Unfavorable Variable OH spending variance Variable OH efficiency variance Total variable OH variance Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected production and sales volume of 16,000 units. $4,000,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2019 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($64,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual amount) General and administrative expenses Advertising expense Salaries Entertainment expense Income from operations $ 960,000 240,000 80,000 330,000 214,000 215,000 2,039,000 1,961,000 96,000 128,000 260,000 484,000 133,000 251,000 110,000 494,000 $ 983,000