Reference no: EM132523564
ABC Company manufactures widgets. Both variable and fixed overhead are allocated to widgets produced using machine hours. The actual units produced for March was 1,900 widgets. Budgeted production in units was 2,000 widgets. The following data is available for March:
Variable overhead:
Standard (budgeted) Variable overhead rate per hour: $8 per machine hour
Standard (budgeted) machine hours per unit 0.6 machine hours
Actual total variable overhead costs: $9,450
Actual machine hours used: 1,220
Fixed overhead:
Standard (budgeted) machine hours per unit 0.6 machine hours
Total Budgeted Fixed Overhead (Static Budget) $45,600
Fixed Overhead rate variance: $3,000 favorable
Question 1: The Variable Overhead Spending (Rate) Variance is:
a) $310 U
b) $310 F
c) $640 U
d) $640 F
Question 2: The Variable Overhead Efficiency Variance is:
a) $310 U
b) $310 F
c) $640 U
d) $640 F
Question 3: The Fixed Overhead Spending (Rate) Variance is:
a) $3,000 F
b) $3,000 U
c) $2,280 F
d) $2,280 U
Question 4: The Fixed Overhead Production Volume Variance is:
a) $3,000 F
b) $3,000 U
c) $2,280 F
d) $2,280 U
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