Problem - Overhead Variances, Continued. Manufacturing overhead data for the production of Product X of Cinnabar Industries are as follows: $310,000 Overhead incurred for 31,500 actual direct labor hours worked Overhead rate (variable $6; fixed $4) at normal capacity of 30,000 direct labor hours Standard hours for worked done $10.00 32,000 In addition, the flexible manufacturing overhead budget shows that budgeted costs (at 32,000 standard hours) are $6 variable per direct labor hour and $120,000 fixed. (Hint: This information is needed or the overhead controllable variance). Choose the best answer by circling one letter. Each correct answer is worth point(s). 2. What is the overhead controllable variance? a $5,000 favorable. b. $2,000 favorable. c $10,000 favorable. d $10,000 unfavorable. Problem - Overhead Variances, Continued. Manufacturing overhead data for the production of Product X of Cinnabar Industries are as follows: Overhead incurred for 31,500 actual direct labor hours worked $310,000 $10.00 Overhead rate (variable $6; fixed $4) at normal capacity of 30,000 direct labor hours Standard hours for worked done 32,000 In addition, the flexible manufacturing overhead budget shows that budgeted costs (at 32,000 standard hours) are $6 variable per direct labor hour and $120,000 fixed. (Hint: This information useful for the overhead controllable variance). Choose the best answer by circling one letter. Each correct answer is worth point(s). 3. What is the overhead volume variance? a $8,000 favorable. b. $11,000 favorable. c $5,000 favorable. d $10,000 favorable