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Hamilton, Inc., produces chemicals for large biotech companies. It has the following data for manufacturing overhead costs during August 2017: Variable Fixed Actual costs incurred

Hamilton, Inc., produces chemicals for large biotech companies. It has the following data for manufacturing overhead costs during August 2017:

Variable

Fixed

Actual costs incurred

$32,500

$18,000

Costs allocated to products

32,000

13,600

Flexible budget

12,400

Actual input x budgeted rate

32,000

Requirements

(If no variance exists leave the dollar value blank. Label the variance as favorable (F), unfavorable (U) or never a variance (N).)

Variable

Fixed

(1)

Spending variance

$

$

(2)

Efficiency variance

(3)

Production-volume variance

(4)

Flexible-budget variance

(5)

Underallocated (overallocated)

manufacturing overhead

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