Question
The (partial) cost sheet for the single product manufactured at Vienna Company follows. Direct labor(15 hours @ $25)$375 Variable overhead(15 hours @ $2) 30 Fixed
The (partial) cost sheet for the single product manufactured at Vienna Company follows.
Direct labor(15 hours @ $25)$375
Variable overhead(15 hours @ $2) 30
Fixed overhead(15 hours @ $4) 60
The master budget level of production is 78,000 direct-labor hours, which is also the production volume used to compute the fixed overhead application rate. Other information available for operations over the past accounting period include the following.
Actual variable overhead incurred | $ | 128,000 | |
Actual fixed overhead incurred | 326,800 | ||
Direct labor efficiency variance | 158,000 | U | |
Variable overhead price variance | 26,000 | F |
Required: a. What was the variable overhead efficiency variance? b. What was the fixed overhead price variance? c. What was the fixed overhead production volume variance?
please show all of the steps, thank you very much. I have posted 2 times already, no one answered correctly.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started