The loan department of Bonita Bank uses standard costs to determine the overhead cost of processing loan applications. During the current month, a fire occurred, and the accounting records for the department were mostly destroyed. The following data were salvaged from the ashes:

Standard variable overhead rate per hour		$7
Standard hours per application		4
Standard hours allowed		5,200
Standard fixed overhead rate per hour		$7
Actual fixed overhead cost		$38,500
Variable overhead budget based on standard hours allowed		$36,400
Fixed overhead budget		$38,500
Overhead budget variance		$1,900	Unfavourable

(a)

Determine the following: 1. Total actual overhead cost

Total actual overhead cost

$enter the total actual overhead cost in dollars

2. Actual variable overhead cost

Actual variable overhead cost

$enter the actual variable overhead cost in dollars

3. Variable overhead cost applied

Variable overhead cost applied

$enter the variable overhead cost applied in dollars

4. Fixed overhead cost applied

Fixed overhead cost applied

$enter the fixed overhead cost applied in dollars

5. Overhead volume variance

Overhead volume variance

$enter the overhead volume variance in dollars

select an option Neither favourable nor unfavourableUnfavourableFavourable