Wadding Corporation applies manufacturing overhead to products on the basis of standard machine-hours. For the most...
Wadding Corporation applies manufacturing overhead to products on the basis of standard machine-hours. For the most recent month, the company based its budget on 4,600 machine-hours. Budgeted and actual overhead costs for the month appear below:
| Original Budget Based on 4,600 Machine-Hours | Actual Costs | ||||||||||
| Variable overhead costs: | |||||||||||
| Supplies | $ | 11,880 | $ | 12,830 | |||||||
| Indirect labor | 40,100 | 40,800 | |||||||||
| Fixed overhead costs: | |||||||||||
| Supervision | 20,700 | 20,340 | |||||||||
| Utilities | 6,900 | 6,870 | |||||||||
| Factory depreciation | 7,900 | 8,210 | |||||||||
| Total overhead cost | $ | 87,480 | $ | 89,050 | |||||||
The company actually worked 4,710 machine-hours during the month. The standard hours allowed for the actual output were 4,700 machine-hours for the month. What was the overall variable overhead efficiency variance for the month?
-
$580 Favorable
-
$113 Unfavorable
-
$280 Favorable
-
$359 Favorable
Homework Answers
Standard variable overhead rate = (11,880+40,100)/4600
= 11.30
Variable overhead efficiency variance.
= (Standard hours - Actual hours) * svohr
= (4700-4710)*11.30
= 113 Unfavorable
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