Reference no: EM133174619

Question 1 - Using the following information

Actual direct labor hours used, 4,700

Contracts served 1,500

Standard hours per contract served 3

Budgeted variable overhead per standard DL hour Ph 2

Actual variable overhead incurred Ph 9,500

Required - Compute (1) variable overhead efficiency variance (2) variable overhead spending variance.

Question 2 - The following information is available from Tyro Company

Actual factory overhead Ph 15,000

Fixed overhead expenses, actual 7,200

Fixed overhead expenses, budgeted 7,000

Actual hours 3,500

Standard hours 3,800

Variable overhead rate per DLH Ph 2.50

Required - Assuming that Tyro uses a three-way analysis of overhead variances, compute the spending variance.