Reference no: EM132465163

A company's budgeted variable overheads for a period amounted to £24,000. During this period, the company spent £23,760 on variable overheads.

The company's level of production was expected to require 12,000 labour hours but the actual amount of labour hours used was only 10,800 hours.

Question 1: What was the variable overhead expenditure variance for the period?

Question 2: Calculate your answer to the nearest whole £ and enter it in the blank space provided.

Question 3: Indicate an adverse variance (if appropriate) by placing a minus sign in front of the value (e.g., -500).

• Answer the question by providing the appropriate number in the box below (e.g., 123456). Do not enter a dot, commas, spaces, letters, words or symbols (such as £).