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The following information for the past year is available from Thinnews Co., a company that uses machine hours to apply factory overhead: Actual total factory
The following information for the past year is available from Thinnews Co., a company that uses machine hours to apply factory overhead: Actual total factory overhead cost $24,000 Actual fixed overhead cost $10,000 Budgeted fixed overhead cost $11,000 Actual machine hours 5,000 Standard machine hours for the units manufactured 4,800 Denominator volumemachine hours 5,500 Standard variable overhead rate per machine hour $3
1. What is fixed overhead spending variance?
2. What is production volume variance?
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