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Compute the variable overhead rate variances for lubricants

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Reference no: EM132526525

The following data have been provided by Lopus Corporation:

Budgeted production 2,700units

Standard machine-hours per unit 2.8machine-hours

Standard lubricants$4.30per machine-hour

Standard supplies$3.00per machine-hour

Actual production 3,000units

Actual machine-hours 8,180machine-hours

Actual lubricants (total)$36,722

Actual supplies (total)$24,112

Required:

Question 1: Compute the variable overhead rate variances for lubricants and for supplies. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)

Reference no: EM132526525

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