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Concord Corp. supplies its customers with high-quality canvas tents. These canvas tents sell for $170 each, with the following DM and DL usage and price
Concord Corp. supplies its customers with high-quality canvas tents. These canvas tents sell for $170 each, with the following DM and DL usage and price expectations. Throughout the year, Concord used 3,283 DL hours in the process of making 3,350 tents. The company had originally planned to produce and sell 3,150 tents with budgeted fixed-MOH cost of $15,750. Its actual fixed- MOH costs amounted to $15,036 for the year. Determine Concord's fixed- MOH price and volume variances. Also identify whether the company's fixed- MOH costs were under-or overapplied, and by how much. Fixed-MOH price variance $ Fixed-MOH volume variance $ $
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