A company manufactures a single product. It has the following variable overhead standards: ⚫ Standard hours per unit: 4.5 hours ⚫ Standard variable overhead rate: $14 per hour Data from last month: • Actual hours worked: 6,600 hours • Actual variable overhead cost: $91,080 • Actual output: 1,400 units A. What is the variable overhead rate variance? B. What is the variable overhead efficiency variance?

A company manufactures a single product. It has the following variable overhead standards: ⚫ Standard hours per unit: 4.5 hours ⚫ Standard variable overhead rate: $14 per hour Data from last month: • Actual hours worked: 6,600 hours • Actual variable overhead cost: $91,080 • Actual output: 1,400 units A. What is the variable overhead rate variance? B. What is the variable overhead efficiency variance?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 10EA: ThingOne Company has the following information available for the past year. They use machine hours...

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