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Compute the standard hours allowed for the actual production

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Question - Norwall Company's budgeted variable manufacturing overhead cost is $1.05 per machine-hour and its budgeted fixed manufacturing overhead is $27,094 per month.

The following information is available for a recent month:

The denominator activity of 8,740 machine-hours is used to compute the predetermined overhead rate.

At a denominator activity of 8,740 machine-hours, the company should produce 3,800 units of product.

The company's actual operating results were:

Number of units produced 4,220

Actual machine-hours 10,050

Actual variable manufacturing overhead cost $12,060.00

Actual fixed manufacturing overhead cost $26,400.00

Required -

1. Compute the predetermined overhead rate and break it down into variable and fixed cost elements.

2. Compute the standard hours allowed for the actual production.

3. Compute the variable overhead rate and efficiency variances and the fixed overhead budget and volume variances.

Reference no: EM133064556

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