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Discuss variable overhead on the basis of direct labor-hours

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Reference no: EM131795789

Oddo Corporation makes a product with the following standard costs:

Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit
  Direct materials 2.0 ounces $6.00 per ounce $12.00
  Direct labor 0.6 hours $12.00 per hour $7.20
  Variable overhead 0.6 hours $4.50 per hour $2.70

The company reported the following results concerning this product in December.

Originally budgeted output 6,400 units
  Actual output 6,200 units
  Raw materials used in production 9,600 ounces
  Actual direct labor-hours 3,920 hours
  Purchases of raw materials 11,200 ounces
  Actual price of raw materials 5.75 per ounce
  Actual direct labor rate 11.20 per hour
  Actual variable overhead rate 4.20 per hour

The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.

Reference no: EM131795789

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