Reference no: EM1314143

Calculation of Overhead Variances.

Overhead Variances

Consider the following data for the Rivera Company:

Factory Overhead

Fixed Variable

Actual incurred $14,200 $13,300

Budget for standard hours allowed

for output achieved 12,500 11,000

Applied 11,600 11,000

Budget for actual hours of input 12,500 11,400

From the above information, fill in the blanks below. Be sure to mark your variances F for favorable and U for unfavorable.

1.        Flexible-budget variance $______ Fixed $______ Variable $______

2.        Production-volume variance $______ Fixed $______ Variable $______

3.        Spending variance $______ Fixed $______ Variable $______

4.        Efficiency variance $______ Fixed $______ Variable $______