Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Fletcher Company collected the following data regarding production of one of its products. Compute the variable overhead cost variance. 177 Skipped Direct labor standard (2.0

image text in transcribedimage text in transcribed

Fletcher Company collected the following data regarding production of one of its products. Compute the variable overhead cost variance. 177 Skipped Direct labor standard (2.0 hrs. @ $13.40/hr.) $ 26.80 per finished unit Actual direct labor hours 92,500 hrs. Budgeted units 47,500 units Actual finished units produced 45,500 units Standard variable on rate (2 hrs. @ $15.20/hr.) $ 30.40 per finished unit Standard fixed OH rate ($589,000/47,500 units) $ 12.40 per unit Actual cost of variable overhead costs incurred $1,379,200 Actual cost of fixed overhead costs incurred $ 470,000 Multiple Choice $4,000 favorable. $17100 favorable. $21,100 unfavorable. $20,750 unfavorable. $20,750 favorable

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Operational Auditing Handbook Auditing Business And IT Processes

Authors: Andrew Chambers, Graham Rand

2nd Edition

0470744766, 978-0470744765

More Books

Students also viewed these Accounting questions