Question
The following selected information was extracted from the accounting records of Comprehensive Technologies, Inc.: Planned manufacturing activity: 70,000 machine hours Standard variable-overhead rate per machine
The following selected information was extracted from the accounting records of Comprehensive Technologies, Inc.: Planned manufacturing activity: 70,000 machine hours Standard variable-overhead rate per machine hour: $10 Budgeted fixed overhead: $125,000 Variable-overhead spending variance: $94,500U Variable-overhead efficiency variance: $88,500F Fixed-overhead budget variance: $27,500U Total actual overhead: $680,000 Required: Determine the following: actual fixed overhead, actual variable overhead, actual machine hours worked, standard machine hours allowed for actual production, and the fixed-overhead volume variance. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).)
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