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Calculate the amount of fixed overhead volume variance

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Reference no: EM133121748

Question - Blue Gum Ltd uses a standard costing system. The firm estimates that it will operate its manufacturing facilities at 670,000 machine hours for the year. The estimate for total budgeted overhead is $3600,000. The standard variable overhead rate is estimated to be $2.6 per machine hour or 7.8 per unit. The actual data for the year are presented below:

Actual units produced 269,000

Actual machine hours 470,000

Actual variable overhead 1839,000

Actual fixed overhead 372,000

Required - Calculate and enter the amount of fixed overhead volume variance?

Reference no: EM133121748

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