Data Table Requirements FOH = to the 1. Compute the variable overhead cost and efficiency variances and fixed overhead cost and volume variances 2. Explain why the variances are favorable or unfavorable. Static budget variable overhead Static budget foxed overhead Static budget direct labor hours Static budget number of units Standard direct labor hours $ 2.300 $ 2,300 1.150 hours 575 units 2 hours per unit Print Done our was direct to Print Done direct labor than the MOUNT de Tortola Tovem ned to units was than the total budgeted fixed overhead cost Home Fom FO 1. Compute the variable overhead cost and efficiency variances and fixed overhead cost and volume variable overhead cost and efficiency variances. Select the required formulas, compute the variable a Overhead; SC = standard cost; SQ = standard quantity; VOH = variable overhead.) Formula Variance II ariance II required formulas, compute the fixed overhe ncy variance (AC - SC) x AQ te the fixed overhead ead; SC = standard cc (AC-SC) SQ (AQ - SQ)X AC (AQ - SQ)X SC variance Actual FOH - Allocated FOH ne variance Actual FOH - Budgeted FOH Bugeted FOH - Allocated FOH ent 2. Explain why the Variance = ble overhead cost variance is because the actual cost per direct labor hour was than ble overhead efficiency variance is because management used direct labor hours tha overhead cost variance is because the total fixed overhead cost was than the amoun overhead volume variance is because total fixed overhead cost allocated to units was from any list or enter any number in the input fields and then continue to the next question. sed on standard direct labor hours. Great reported the following actual results for 2018 efficiency variances and fixed overhead cost and volume variances. ances. Select the required formulas, compute the variable overhead cost and efficiency rd quantity; VOH = variable overhead.) Variance = II F ces. Select the required formula mtity.) d volume variance U Variance = Il le or unfavorable. UNDY Vous and loved overhead cost and volume variances Begin with the variable overhead cost and efficiency variances. Select the required formulas, compute the variable overhead cost and efficiency variances, and identify whether ac FOH fixed overhead; SC - standard cost; SQ = standard quantity: VOH - variable overhead.) Formula Variance VOH COCO = VOH efficiency variance Now compute the fixed overhead cost and volume variances. Select the required formulas, compute the fixed overhead cost and volume variances, and identify whether each varia foxed overhead; SC - standard cost: SQ = standard quantity.) Formula Variance FOH cost variance FOH volume variance Requirement 2. Explain why the variances are favorable or unfavorable. The variable overhead cost variance is because the actual cost per direct labor hour was than the standard cost per direct labor hour. scause management used The variable overhead efficiency varian The fixed overhead cost variance is favorable direct labor hours than standard and variable overhead is applied (incurred) based unfavorable he total fixed overhead cost was than the amount budgeted for total foxed overhead. The fixed overhead volume variance is because total fixed overhead cost allocated to units was than the total budgeted fixed overhead cost. Choose from any list or enter any number in the input fields and then continue to the next question. MACELL - DH efficiency variance w compute the fixed overhead cost and volume variances. Select the required formulas, compute the fixed overhead cost and volume variances, and ide ed overhead; tandard cost; SQ = standard quantity) Formula Variance OH cost variance H volume variance = quirement 2. Explain why the variances are favorable or unfavorable. variable overhead cost variance is because the actual cost per direct labor hour was than the standard cost per direct labor hou variable overhead efficiency variance is because management used standard and variable overhead is a fixed overhead cost variance is because the total fixed overhead cost was less budgeted for total fixed overhead. e fixed overhead volume variance is because total fixed overhead cost allocated to units was than the total budgeted fixed overhe direct la more thi ose from any list or enter any number in the input fields and then continue to the next question. MacBook
