Granite cutters inc manufactures granite lawn fixtures the

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Reference no: EM13601660

Granite Cutters, Inc. manufactures granite lawn fixtures. The standard and actual costing information is provided below. Granite Cutters uses direct labor hours to allocate overhead.

Calculate Granite Cutters' variable manufacturing overhead spending variance and variable overhead efficiency variance and enter them in the boxes below. Also specify whether each variance is favorable or unfavorable.

Standard Price and Quantities
- Labor 8.0 DL hours per unit
- $14.00 per DL hour
- Variable Overhead Application Rate $5.00 per DL hour
Budgeted and Actual Information
- Planned Production 100 units
- Actual Production 120 units
DL Hours Used 1,000 hours
- DL Hours Budgeted for Period 800 hours
- Actual DL Cost $13,500
Actual Variable Manufacturing Overhead $5,250
- Actual Fixed Overhead $9,000
- Total Budgeted Fixed Overhead $7,500

Reference no: EM13601660

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