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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,

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.

Fixed Manufacturing Overhead Incurred 23,180

Denominator Machine Hours per Master Budget 1,000 hours

Variable Overhead Rate per Machine Hour 42 per

Machine Hour Budgeted Fixed OVerhead per Master Budget 20,000

Fixed Overhead Volume Variance 4,000 F

Variable Overhead Spending Variance 2,282 F

Variable Overhead Efficiency Variance 2,478 F

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

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