Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of direct labor hours. Information from LLL's standard cost card follows: Standard Standard Standard Quantity overhead $0.48 Unit Cost Variable manufacturing Rate $0.80 8.6 During August, LLL had the following actual results: Units produced and sold 25,500 Actual variable overhead $ 9,490 Actunt direct labor hours 16,000 Lamp Light Limited (LLL) calculates a fixed overhead rate based on budgeted fixed overhead of $78,750 and budgeted production of 22,500 units. Actual results were as follows: Number of units produced and sold Actual fixed overhead 25,500 $ 75,750 Required: 1. Calculate the fixed overhead rate based on budgeted production for LLL 2. Calculate the fixed overhead spending variance for LLL 3. Calculate the fixed overhead volume variance for LLL 4. Calculate the over- or underapplied fixed overhead for LLL Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 and 3 Reg 4 Lamp Light Limited (LLL) calculates a fixed overhead rate based on budgeted fixed overhead of $78,750 and budgeted product 22,500 units. Actual results were as follows: Number of units produced and sold Actual fixed overhead 25, see $75,750 Required: 1. Calculate the fixed overhead rate based on budgeted production for LLL 2. Calculate the fixed overhead spending variance for LLL 3. Calculate the fixed overhead volume variance for LLL. 4. Calculate the over- or underapplied fixed overhead for LLL Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 and 3 Reg 4 Calculate the fixed overhead rate based on budgeted production for LLL. (Round your answer to 2 decimal places.) Fixed Overhead Rate per unit Req 2 and 3 > Lamp Light Limited (LLL) calculates a fixed overhead rate based on budgeted fixed overhead of $78,750 and budgeted pro 22,500 units. Actual results were as follows: Number of units produced and sold Actual fixed overhead 25,500 $ 75,750 Required: 1. Calculate the fixed overhead rate based on budgeted production for LLL 2. Calculate the fixed overhead spending variance for LLL 3. Calculate the fixed overhead volume variance for LLL. 4. Calculate the over- or underapplied fixed overhead for LLL. Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Req 4 2. Calculate the fixed overhead spending variance for LLL. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance).) 3. Calculate the fixed overhead volume variance for LLL. (Indicate the effect of each variance by selecting "F" for favorable, *U* for unfavorable, and "None" for no effect (.e., zero variance). Round Fixed overhead rate to 2 decimal places.) Show less 2 Fixed Overhead Spending Variance 3. Fixed Overhead Volume Variance
