233 QS 21-14 (Algo) Total overhead Fogel Company expects to produce and variable overhead costs of $154,000 and $253,800 while producing 104,000 units a. Compute the total variable overhead b. Compute the budgeted (flexible) total.
Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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