Likert company manufactures extremely accurate scales. They use a standard costing system. Last year the company projected that 301,000 scales would be produced. When Likert company closed out manufacturing overhead, they recorded a $136,000 debit to the FOH Budget Variance and a $120,000 credit to the FOH Volume Variance. Likert company budgeted $2,318,000 of fixed overhead. What was the actual amount of fixed overhead?<\/p>
LiPong<\/span>company uses a standard costing system. Last year they incurred $302,000 of overhead and had the following variances before closing entries.<\/p> <\/p> FOH Budget Variance - $8,000 F<\/p> FOH Volume Variance - $9,000Underapplied<\/span><\/p> VOH Spending Variance - $8,000 F<\/p> VOH Efficiency Variance - $1,000 U<\/p> <\/p> How much overhead was applied to inventory over the course of the year?<\/p> <\/p> <\/p>",
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