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Three-Variance Analysis Use the following data for Marilyn, Inc.
Actual total cost for direct labor
$86,800
Total direct labor hours worked
14,000
Total standard labor hours for the output in April
15,000
Direct labor rate variance-unfavorable
$2,800
Actual total overhead cost
$32,000
Budgeted fixed overhead cost
$9,000
Practical capacity, in hours
12,000
Total overhead application rate per standard direct labor hour
$2.25
Required: Use a model similar to the one presented in text Exhibit to perform a three-way breakdown of the total overhead variance, as follows:
1. Overhead spending variance.
2. Variable overhead efficiency variance.
3. Production-volume variance
4. Prepare a reconciliation of results from the two-variance and three-variance approaches.
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