Question
Franklin Glass Works uses a standard cost system in which manufacturing overhead is applied to units of product on the basis of direct labour-hours. Each
Franklin Glass Works uses a standard cost system in which manufacturing overhead is applied to units of product on the basis of direct labour-hours. Each unit requires two standard hours of labour for completion. The denominator activity for the year was based on budgeted production of 200,000 units. Total overhead was budgeted at 900,000 for the year, and the fixed overhead rate was 3.00 per unit. The actual data pertaining to the manufacturing overhead for the year are presented below: Actual production 198,000 units. Actual direct labour-hours 440,000 direct labour-hours. Actual variable overhead 352,000. Actual fixed overhead 575,000.
The standard hours allowed for the actual production for the year is?
The fixed overhead applied to Franklin's production for the year is?
Franklins Total variable overhead cost variance is?
Franklin's variable overhead spending variance for the year is?
Franklin's variable overhead efficiency variance for the year is?
Franklin's Total Fixed overhead cost variance is?
Franklin's fixed overhead volume variance for the year is?
Franklin's fixed overhead budget variance for the year is?
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