Knowledge Check O2 Xcel Technologles, Incorporated applies variable manufacturing overtiead to products based on machine hours. The standard variable overhead rate is $5 per machine hour. The standard time allowed for producing one unit is 2 machine hoors. During the month of August, the company produced 500 units, It incurred actual variable costs of 55,655 and used 870 mach he hours. Caiculate the variable overhead rate varlance for the month of August $1,500 unfavorable $1,305 favorable $1.500 fiveroble $1.305 unfiworable Knowledge Check 03 Xeel Technologles, incorporated applies variabie manutactuiling overhead to products based on machine hours. The standard variable overhead rate is $5 per machine hour. The standard time allowed for prodacing one unit is 2 machine hours. During the month of August the company produced 500 units. It incuired actual vatiable costs of $5,655 and used 870 machine hours, Cakculate the valable overhead efficiency variance for the month of August $650 favorable $650 unfavorabic Xcel Technologies, Incorporated applles varioble manufacturing overhead to products based on machine houms. The standard variable overhead rate is $5 per machine hour. The standard time allowed for producing one unit is 2 machine hours: During the month of August, the company produced 500 units. It incurred actual variable costs of $5.655 and used 870 machine hours. Calculate the variable overhead efficiency variance for the month of August. Knowledge Check 04 Bonjoy Compony applles varable overhead on the basis of direct labor bours. For the month of June, the vailable overhead efliciency varinnce is unfavorable but the variable overhead rate variance is favorable. Which of the folowing can be concluded from this? The fued overhead costs were not incuited The actual vartable ovethead rate was more than budgeted. The quantity of actual direct labor hours used was more than budgeted. The quantity of actual direct labot hours used was less than bodgeted