NORTH CAROLINA CORP

The following information is available regarding the companys overhead. The company uses standard costing to account for both variable and fixed overhead in its operations, both of which are applied on the basis of machine hours.

Required:

Determine the following:

1. Variable manufacturing overhead incurred

2. Standard machine hours allowed for actual output

3. Fixed overhead rate (per machine hour)

4. Budgeted variable overhead (per master budget)

5. Total budgeted overhead (per master budget)

6. Applied variable overhead

7. Applied fixed overhead

8. Fixed overhead spending variance

9. Actual machine hours used

23,180 Fixed manufacturing overhead incurred Denominator machine hours per master budget Variable overhead rate (per machine hour) Budgeted fixed overhead per master budget Fixed overhead volume variance Variable overhead spending variance Variable overhead efficiency variance 1,000 hours 42 per machine hour 20,000 4,000 F 2,282 F 2,478 f