Reference no: EM132548774
Factory overhead variance analysis (Two, Three, Four-way Variance method)
Ezekiel company provides the following production data:
Total standard overhead cost per unit of a product: 4 hours at 3.00 per hour
Budgeted fixed factory overhead P20,000
Normal production 2,500 units
Actual production 2,000 units
Actual hours 7,500 hours
Actual factory overhead incurred (75% fixed) P26,000
Required:
Question 1: Determine the following:
a. Budget factory overhead
b. Standard factory overhead
c. Budgeted FOH based on actual hours
d. Budgeted FOH based on standard hours
e. Controllable variance
f. Volume variance
g. Spending variance
h. Variable efficiency variance
i. Variable spending variance
j. Fixed spending variance
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