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Compute the variable overhead spending variance

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Question - An efficiency expert determined that it should take 1.5 hours to make a widget and the company planned to work 17,000 hours during 2020. The ee also determined that the variable cost per HOUR is $4.00 and the fixed overhead cost per HOUR is $2.00. During 2020 the company worked 17,900 hours, produced 12,000 widgets, spent $32,000 for factory rent and $67,125 for factory utilities. Use this information to answer the following,

Required -

1. Compute the fixed overhead volume variance?

2. Compute the fixed overhead spending variance?

3. Compute the variable overhead efficiency variance?

4. Compute the variable overhead spending variance?

Reference no: EM133078086

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