Thorne Company has the following information available for the past year. They use machine hours to allocate overhead. NOTE: All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). For the variance conditions, your answer is either "F” (for Favorable) or "U” (for Unfavorable) - capital letter and no quotes.What is the variable overhead efficiency variance? Is it favorable or unfavorable? ### Overhead Cost Analysis**Actual total overhead:** $75,000 **Actual fixed overhead:** $32,500 **Actual machine hours:** 10,000 **Standard hours for the units produced:** 9,500 **Standard variable overhead rate:** $4.50This data provides an insight into the various overhead costs and operating metrics for a manufacturing process. Here's a breakdown of what each term represents:1. **Actual Total Overhead:** This is the overall cost incurred in overhead for the production period and is recorded at $75,000.2. **Actual Fixed Overhead:** Fixed overhead costs that do not vary with the level of production or machine hours, amounting to $32,500.3. **Actual Machine Hours:** The total machine hours that were used during the production process, noted to be 10,000 hours.4. **Standard Hours for the Units Produced:** This indicates the expected number of machine hours for the actual number of units produced, which is 9,500 hours.5. **Standard Variable Overhead Rate:** The predetermined rate at which variable overhead costs are applied, given as $4.50 per machine hour.This information is commonly used in performance analysis and cost control in manufacturing operations, helping to compare actual versus standard costs and thus determine variances for managerial decision-making.

Name: Thorne Company has the following information available for the past ye
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Thorne Company has the following information available for the past year. They use machine hours to allocate overhead. NOTE: All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). For the variance cond