Using the columnar format below compute the fixed overhead

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Reference no: EM131023544

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Franklin Company provides the following information about its manufacturing operations for the month just ended:

Actual machine-hours used	22,000
Budgeted total overhead	$900,000
Actual variable overhead incurred	$352,000
Actual fixed overhead incurred	$575,000

Budgeted production is 200,000 units of output and actual production is 198,000 units of output. One-tenth of a machine-hour is budgeted per unit of output. The budgeted fixed overhead cost rate is $30 per machine-hour. The company uses 4-variance analysis for overhead.

a. Using the columnar format below, compute the variable overhead spending and efficiency variances. Indicate whether each variance is favorable or unfavorable. Use F for favorable variances and U for unfavorable variances.

b. Using the columnar format below, compute the fixed overhead spending and production-volume variances. Indicate whether each variance is favorable or unfavorable. Use F for favorable variances and U for unfavorable variances.

c. Is total overhead underallocated or overallocated? By what amount?

Reference no: EM131023544

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