Illustrate what is rich fixed overhead budget variance

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Reference no: EM13141052

Rich Company, which uses a standard cost system, budgeted $800,000 of fixed overhead when 50,000 machine hours were anticipated. Other data for the period were:

Actual units produced:10,600
Actual machine hours worked:51,800
Actual variable overhead incurred:$ 475,000
Actual fixed overhead incurred: $ 790,100
Standard variable overhead rate per machine hour: $8.50
Standard production time per unit: 5 hours

1. What is Rich's variable overhead efficiency?

2. What is Rich's fixed overhead budget variance?

Reference no: EM13141052

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Illustrate what is rich fixed overhead budget variance : Rich Company uses a standard cost system- budgeted $800000 of fixed overhead when 50,000 machine hours were anticipated. Illustrate w hat is Rich's fixed overhead budget variance?

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