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Compute the fixed overhead cost variance

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Reference no: EM132571362

The following information relates to Leonard Manufacturing's overhead costs for the month:

Static budget variable overhead               $14,200

Static budget fixed overhead                        $5,600

Static budget direct labor hours                      1,000 hours

Static budget number of units                           5,000 units

Leonard allocates manufacturing overhead to production based on standard direct labor hours.

Leonard reported the following actual results for last month: actual variable overhead, $14,500; actual fixed overhead, $5,400; actual production of 4,700 units at 0.22 direct labor hours per unit. The standard direct labor time is 0.20 direct labor hours per unit.

Question 1: Compute the fixed overhead cost variance.

Reference no: EM132571362

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