Chapter 16 question 8

Problem 16-66 (Algo) Overhead Variances (LO 16-5, 6)

Monitor Devices shows the following overhead information for the current period.

Budgeted fixed overhead	$ 482,000
Standard variable overhead rate per machine-hour	$ 52
Standard machine-hours allowed for actual production	5,430	hours
Actual overhead incurred	$ 736,300	, 60% of which is fixed
Actual machine-hours used	5,523	hours

Required:

What are the variable overhead price and efficiency variances and fixed overhead price variance?

Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.

Variable Overhead:Price varianceEfficiency varianceFixed Overhead:Price variance

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