Question:
Overhead Variances
Three Bridges, Inc., shows the following overhead information for the current period:
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Actual overhead incurred
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$638,400 ($182,400 fixed and $456,000 variable)
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Budgeted fixed overhead
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$187,200 (12,000 direct labor-hours budgeted)
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Standard variable overhead rate
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|
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per direct labor-hour
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$36
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Standard hours allowed for
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|
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actual production
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14,000 hours
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Actual labor-hours used
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13,200 hours
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Required
What are the variable overhead price and efficiency variances and the fixed overhead price variance?