24) Mongar Corporation applies manufacturing overhead to products on the basis of standard machine-hours. Budgeted and...
24) Mongar Corporation applies manufacturing overhead to products on the basis of standard machine-hours. Budgeted and actual overhead costs for the most recent month appear below:
| Original Budget | Actual Costs | ||||||||||
| Variable overhead costs: | |||||||||||
| Supplies | $ | 7,980 | $ | 8,230 | |||||||
| Indirect labor | 29,820 | 29,610 | |||||||||
| Total variable manufacturing overhead cost | $ | 37,800 | $ | 37,840 | |||||||
The original budget was based on 4,200 machine-hours. The company actually worked 4,350 machine-hours during the month and the standard hours allowed for the actual output were 4,190 machine-hours. What was the overall variable overhead efficiency variance for the month?
-
$130 Unfavorable
-
$950 Favorable
-
$1,440 Unfavorable
-
$1,310 Favorable
Homework Answers
Answer- The overall variable overhead efficiency variance for the month = was = $1,440 Unfavorable.
Explanation- Variable overhead efficiency variance=(Standard hours–Actual working hours)*Standard Rate
= ($4190 hours - $4350 hours)*($37800/4200 hours)
= ($4190 hours - $4350 hours)*$9 per hour
= $ 1440 Unfavorable
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