Question:
Weather all Products uses standard costing. The following information about overhead was generated during August:
|
Standard variable overhead rate
|
$3.00 per machine hour
|
|
Standard fixed overhead rate
|
$3.10 per machine hour
|
|
Actual variable overhead costs
|
$680,100
|
|
Actual fixed overhead costs
|
$698,800
|
|
Budgeted fixed overhead costs
|
$700,000
|
|
Standard machine hours per unit produced
|
12
|
|
Good units produced
|
18,940
|
|
Actual machine hours
|
228,400
|
Compute the variable overhead spending and efficiency variances and the fixed overhead budget and volume variances.