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Compute the variable manufacturing overhead spending

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Reference no: EM13519131

Eastern Company uses a standard cost system in which manufacturing overhead is applied to units of product on the basis of standard direct labor-hours (DLHs). The denominator activity level is 60,000 direct labor-hours, or 300,000 units.

  • A standard cost card for the company's product follows:

Standard

quantity or

hours

Standard price or

rate

Standard

cost

Direct materials

0.25 kilogram

$16 per kilogram

$4

Direct labor

0.20 DLH

$10 per DLH

2

Variable overhead

0.20 DLH

$5 per DLH

1

Fixed overhead

0.20 DLH

$10 per DLH

2

Total standard cost

$9
  • Actual data for the year follow:

Units produced and sold

330,000

Actual direct labor-hours worked

64,800

Actual variable manufacturing overhead cost

$327,240

Actual fixed manufacturing overhead cost

$612,000

Required:

a. Compute the variable manufacturing overhead spending and efficiency variances.

b. Compute the fixed manufacturing overhead budget and volume variances.

Reference no: EM13519131

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