The following information relates to Joplin Company for the period just ended:

Standard variable overhead rate per hour	$	1.40
Standard fixed-overhead rate per hour	$	2.80
Planned monthly activity		40,500	machine hours
Actual production completed		84,000	units
Standard machine processing time		Two	units per hour
Actual variable overhead	$	53,460
Actual total overhead	$	171,360
Actual machine hours worked		41,000

All of the company's overhead is variable or fixed in nature.

Required: A.Calculate the spending and efficiency variances for variable overhead. B.Calculate the budget and volume variances for fixed overhead. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).)

Ch 11 Quiz i Saved Help Save & Exit Submit The following information relates to Joplin Company for the period just ended: Standard variable overhead rate per hour 1. 40 Standard fixed-overhead rate per hour 2.80 Planned monthly activity 40, 500 machine hours Actual production completed 84, 000 units Standard machine processing time Two units per hour Actual variable overhead $ 53, 460 Actual total overhead $171, 360 Actual machine hours worked 41, 000 All of the company's overhead is variable or fixed in nature. Required: A. Calculate the spending and efficiency variances for variable overhead. B. Calculate the budget and volume variances for fixed overhead. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).) A. Spending variance Efficiency variance B. Budget variance Volume variance Mc Graw Hill