Answered step by step
Verified Expert Solution
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 below.
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. Variable overhead costs: Supplies Indirect labor Fixed overhead costs: Supervision Utilities Original Budget Actual Costs $ 8,100 $ 8,290 10,750 10,100 15,910 14,520 15,200 15,250 59,610 60,950 Factory depreciation Total overhead cost $ 109,570 $ 109 110 The company based its original budget on 8,100 machine-hours. The company actually worked 8,060 machine-hours during the month. The standard hours allowed for the actual output of the month totaled 7,990 machine-hours. What was the overall fixed manufacturing overhead volume variance for the month? (Round your intermediate calculations to 2 decimal places.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started