Question
Factory Overhead Cost Variances Thomas Textiles Corporation began November with a budget for 28,000 hours of production in the Weaving Department. The department has a
Factory Overhead Cost Variances Thomas Textiles Corporation began November with a budget for 28,000 hours of production in the Weaving Department. The department has a full capacity of 37,000 hours under normal business conditions. The budgeted overhead at the planned volumes at the beginning of November was as follows: Variable overhead $95,200 Fixed overhead 66,600 Total $161,800 The actual factory overhead was $163,700 for November. The actual fixed factory overhead was as budgeted. During November, the Weaving Department had standard hours at actual production volume of 29,000 hours. Determine the variable factory overhead controllable variance and the fixed factory overhead volume variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Round your interim computations to the nearest cent, if required.
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