Question
PLEASE PROVIDE FULL SOLUTIONS WITH EXPLAINATIONS Prepare fully labeled variance diagrams for manufacturing overhead splitting them between variance and fixed Denominator level in hours 40,000
PLEASE PROVIDE FULL SOLUTIONS WITH EXPLAINATIONS
- Prepare fully labeled variance diagrams for manufacturing overhead splitting them between variance and fixed
Denominator level in hours
40,000
Actual output in units
21,000
Std. Variable overhead rate per machine hour
$2.80
Actual variable overhead incurred
$117,000
Actual fixed overhead incurred
$302,100
Variable overhead applied
$117,600
Variable overhead Efficiency Variance
$8,400 U
Fixed overhead budget variance
$2,100 U
What is the Over/under Allocated MO for Variable MO? ______________
What is the Over/under Allocated MO for Fixed MO? ___________________
2. Prepare journal entries that would be made at the end of each month relating to the above variances
please provide answer to question 1 in similar format to attachment below
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