Budgeted production 1,500 gears ? e. Secure l https://n ion.com/flow/connect htm

Question

Budgeted production 1,500 gears ? e. Secure l https://n ion.com/flow/connect html Chapter 10 Quiz Saved Help Save & Exit Submit Budgeted production Standard machine-hours per gear Budgeted supplies cost Actual production Actual machine-hours Actual supplies cost (total) 1,500 gears 6 6.2 machine-hours $ 6.80 per machine-hour 1,200 gears 7,980 machine-hours $49,772 Required: Determine the rate and efficiency variances for the variable overhead item supplies and indicate whether those variables are favorable or unfavorable (Input all amounts as positive values.) Variable overhead rate variance Variable overhead efficiency variance Mc Graw Hill Pre6 of 10 Next>

Explanation / Answer

Variable overhead rate variance = (Standard rate-actual rate)actual hours

                                                    = (6.8*7980-49772)

Variable overhead rate variance = 4492 F

Variable overhead efficiency variance = (Standard hour-actual hour)Standard rate

                                                            = (1200*6.2-7980)*6.8

Variable overhead efficiency variance = 3672 U

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