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Calculate the variable overhead spending variance

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Question - ACME company's production budget for August is 23.000 units and includes the following components unit costs; direct materials $9.0, direct labor $ 11.0, variable overhead $ 5.8. Budgeted fixed overhead is $ 49.000. Actual production in August was 24.075 units. Actual unit component costs incurred during August include direct materials $ 10.00, direct labor $ 10.00, variable overhead $ 6.80. The actual fixed overhead was $ 52.200. The standard variable overhead rate per unit consists of 5.8 per machine hour and each unit is allowed a standard of 1 hour of machine time. During August, 163,710 of actual variable overhead cost was incurred for 27.285 machine hours. Calculate the variable overhead spending variance and the variable efficiency variance.

Reference no: EM133016839

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