Based on expected production and sales of 36,320 units, a company's flexible budget shows fixed overhead costs of $53,200 and variable overhead costs of $54,480. During the period, the company actually produced and sold 32,320 units and incurred actual total overhead costs of $98,500. a. Calculate budgeted (flexible) total overhead when 32,320 units are produced and sold. b. Calculate controllable variance. Indicate whether it is favorable or unfavorable. Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance. Variable Costs Fixed Costs Budgeted (flexible) overhead Controllable variance Variable Amount per Unit Controllable Variance Total Fixed Cost Flexible Budget at 32,320 units

Based on expected production and sales of 36,320 units, a company's flexible budget shows fixed overhead costs of $53,200 and variable overhead costs of $54,480. During the period, the company actually produced and sold 32,320 units and incurred actual total overhead costs of $98,500. a. Calculate budgeted (flexible) total overhead when 32,320 units are produced and sold. b. Calculate controllable variance. Indicate whether it is favorable or unfavorable. Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance. Variable Costs Fixed Costs Budgeted (flexible) overhead Controllable variance Variable Amount per Unit Controllable Variance Total Fixed Cost Flexible Budget at 32,320 units

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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