Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter is100,000units per year. The total budgeted overhead at normal capacity is $650,000comprised of $250,000of variable costs and $400,000of fixed costs. Byrd applies overhead on the basis of direct labor hours.

During the current year, Byrd produced75,400putters, worked88,500direct labor hours, and incurred variable overhead costs of $147,030and fixed overhead costs of $431,100.

Compute the predetermined variable overhead rate and the predetermined fixed overhead rate.(Round answers to 2 decimal places, e.g. 2.75.)

Variable

Fixed

Predetermined Overhead Rate$

$

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Compute the applied overhead for Byrd for the year.

Overhead Applied$

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Compute the total overhead variance.

Total Overhead Variance$

Favorable

Neither favorable nor unfavorable

Unfavorable

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