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Masters company applies overhead using machine hours and

Question: 1. Masters Company applies overhead using machine hours and reports the following information. Compute the total variable overhead cost variance.

Actual machine hours used . . . . . . . . . . . . . . . . . . . . . 4,950 hours

Standard machine hours . . . . . . . . . . . . . . . . . . . . . . . 5,000 hours

Actual variable overhead rate per hour . . . . . . . . . . . $4.10

Standard variable overhead rate per hour . . . . . . . . . $4.00

2. In what sense can a variable cost be considered constant?

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Accounting Basics: Masters company applies overhead using machine hours and

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