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Please provide all the requirements Family Meals Now (FMN) operates a meal home-delivery service. It has agreements with 20 restaurants to pick up and deliver
Please provide all the requirements
Family Meals Now (FMN) operates a meal home-delivery service. It has agreements with 20 restaurants to pick up and deliver meals to customers who place orders on FMN's website. FMN allocates variable and fixed overhead costs on the basis of delivery time. FMN's owner, Thomas Stewart, obtains the following information for May 2020 overhead costs: (Click the icon to view the information.) Read the requirements i X Data Table Output units (number of deliveries) Hours per delivery Hours of delivery time Variable overhead cost per hour of delivery time Variable overhead costs Fixed overhead costs Actual Static Results Budget 8,300 9,000 0.70 5,680 $ 1.60 $ 10,224 $ 39,400 $ 37,800 Print Done 0 Requirements 1. Compute spending and efficiency variances for FMN's variable overhead in May 2020. 2. Compute the spending variance and production-volume variance for FMN's fixed overhead in May 2020. 3. Comment on FMN's overhead variances and suggest how Thomas Stewart might manage FMN's variable overhead differently from its fixed overhead costs. Print Done Requirement 1. Compute spending and efficiency variances for FMN's variable overhead in May 2020. Begin by calculating the following amounts for the variable overhead. (Round your answer to the nearest dollar.) Actual input Actual costs Flexible incurred budgeted rate budget Variable OH XStep by Step Solution
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