Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Lossing Corporation applies manufacturing overhead to products on the basis of standard machine-hours. Budgeted and actual overhead costs for the most recent month appear

image text in transcribed

Lossing Corporation applies manufacturing overhead to products on the basis of standard machine-hours. Budgeted and actual overhead costs for the most recent month appear below. Original Budget Actual Costs Variable overhead costs: Supplies Indirect labor Fixed overhead costs: Supervision Utilities Factory depreciation. Total overhead cost $ 8,300 $ 8,490 10,770 10,120 16,110 14,540 15,400 15,450 58,130 $108,710 59,650 $108,250 The company based its original budget on 8,300 machine-hours. The company actually worked 8,260 machine-hours during the month. The standard hours allowed for the actual output of the month totaled 8,190 machine-hours. What was the overall fixed manufacturing overhead volume variance for the month? (Round your intermediate calculations to 2 decimal places.) Multiple Choice $1,092 Favorable $1,092 Unfavorable $1188 Favorable $1188 Unfavorable

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamental Accounting Principles

Authors: John Wild, Ken Shaw, Barbara Chiappetta

22nd edition

9781259566905, 978-0-07-76328, 77862279, 1259566900, 0-07-763289-3, 978-0077862275

More Books

Students also viewed these Accounting questions

Question

What is the effect of word war second?

Answered: 1 week ago

Question

What may be the risks to either Google or the developers?

Answered: 1 week ago