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Need help with calculating variances dkkdkd The following estimates are made, setting standards and calculating the pre determined overhead rate at the beginning of fiscal

Need help with calculating variances

dkkdkd

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The following estimates are made, setting standards and calculating the pre determined overhead rate at the beginning of fiscal 2018: Denominator level of activity 27,909 wacking hours Variable overhead costs $161 000 Fixed overhead costs Total overhead costs At standard, each unit requires 2.5 machine hours to complete. Overhead costs are applied to production based on standard machine hours. Each Spectre requires 6 kilograms of raw material, which has a standard cost of $3 40 per kilogram and 1.5 hours of direct labour hours which has a standard rate of $15 per hour. Actual operating activity and costs for 2018 were as follows: Activity: Number of bricks produced 9000 Actual machine-hours recorded 21,400 Actual labour hours worked 15,750 Costs incurred: Direct labour cost $215,775 Manufacturing overhead cost $792,180 (of which $651,600 was fixed) At the beginning of 2018, there were 500 kilograms of raw materials on hand. 55,800 kilograms of raw materials were purchased during the year at a total cost of $238,824. 3,700 kilograms remained in inventory at year end. REQUIRED: Calculate the following production varances: a) Materials price and quantity variances by Labour rate and efficiency variances c) Variable overhead spending and efficiency variances dy Fixed overhead budget and volume variances

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