Question - The following data relate to labor cost for production of 12,000 computers:
Actual: variable factory overhead $650,000
Fixed factory overhead 78,000
Standard: 32,000 hours at $21 672,000
If productive capacity of 100% was 50,000 hours and the factory overhead cost budgeted at the level of 32,000 standard hours was $700,080, determine the variable factory overhead controllable variance, fixed factory overhead volume, and total factory overhead cost variance. The fixed factory overhead rate was $1.56 per hour.