Overhead variances. Smolenski, Inc., uses standard costing. The company reported the following overhead information for the current period:
|
Actual Overhead Incurred
|
$13,600, of Which $3,500 Is Fixed
|
|
Budgeted Fixed Overhead
|
$3,300
|
|
Variable Overhead Rate per Machine Hour
|
$ 3
|
|
Standard Hours Allowed for Actual Production
|
3,500
|
|
Actual Machine Hours Used
|
3,200
|
Calculate the variable and fixed overhead variances.