Calculate the actual variable overhead cost

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Reference no: EM131763513

Question: XYZ Company reported the following information regarding its single product for May:

Direct materials:

Price variance ................. $5,000

favorable Quantity variance .............. $16,320

unfavorable Direct materials used .......... 40,000 pounds

Direct materials purchased ..... 50,000 pounds

Actual price paid .............. $5 per pound

Standard quantity .............. 8 pounds per unit

Direct labor:

Total variance ................. $20,150

unfavorable Actual rate .................... $13 per hour

Standard rate .................. $15 per hour

Standard hours ................. 0.65 hours per unit

Variable overhead:

Total variance ................. $9,030

unfavorable Spending variance .............. $27,150

favorable Standard hours ................. 0.65 hours per unit

Calculate the actual variable overhead cost incurred during May.

Reference no: EM131763513

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