Compute the overhead controllable variance

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Reference no: EM133068160

Question - Concorde Industries provided the following information about its standard costing system for 2019:

Standard Data

Actual Data

Labor

2 hrs. @ Php21 per hr.

Produced

8,000 units

Budgeted fixed overhead costing Php300,000

Php100,000

Labor worked

15,000 hrs.

Budgeted variable overhead

Php30 per unit

Actual overhead

Php355,000

Budgeted production

10,000 units

 

 

Concord Industries applies fixed overhead at Php10 per unit produced.

Required -

(a) Compute the total overhead variance.

(b) Compute the overhead controllable variance.

(c) Compute the overhead volume variance.

Reference no: EM133068160

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