Question
Given the following standard cost sheet: Description Std Price Std Usage Std Cost Direct Material $1.25 15 pounds $18.75 Direct Labor $20 per hr 0.5
Given the following standard cost sheet: Description Std Price Std Usage Std Cost Direct Material $1.25 15 pounds $18.75 Direct Labor $20 per hr 0.5 hrs $10.00 Overhead Variable OH $8.00 0.5 hrs $4.00 Fixed OH $12.00 0.5 hrs $6.00 $38.75 The actual production information data follows: Bread loaves Produced 1,800 Direct Material purchased (pounds) 1,000 Direct Material purchase price (per pound) $1.25 Direct Material consumed (pounds) 1,020 Actual Direct Labor hours 210 Actual Direct Labor payroll $4,000 Variable OH $ $779 Fixed OH $ $550 What is the variable overhead usage variance? (If a negative variance add a negative sign to the number)
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