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Blossom Company's overhead rate was based on estimates of $189,600 for overhead costs and 18,960 direct labour hours. Blossom's standards allow 2 hours of direct labour per unit produced. Production in May was 840 units, and actual overhead incurred in May was $19,000. The overhead budgeted for 1,680 standard direct labour hours is $16,500 ($4,740 fixed and $11,760 variable). (a) Calculate the total, budget, and volume variances for overhead. Total overhead variance $ Overhead budget variance $ Overhead volume variance $

Blossom Company's overhead rate was based on estimates of $189,600 for overhead costs and 18,960 direct labour hours. Blossom's standards allow 2 hours of direct labour per unit produced. Production in May was 840 units, and actual overhead incurred in May was $19,000. The overhead budgeted for 1,680 standard direct labour hours is $16,500 ($4,740 fixed and $11,760 variable). (a) Calculate the total, budget, and volume variances for overhead. Total overhead variance $ Overhead budget variance $ Overhead volume variance $

FINANCIAL ACCOUNTING
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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Blossom Company's overhead rate was based on estimates of $189,600 for overhead costs and 18,960 direct labour hours. Blossom's standards allow 2 hours of direct labour per unit produced. Production in May was 840 units, and actual overhead incurred in May was $19,000. The overhead budgeted for 1,680 standard direct labour hours is $16,500 ($4,740 fixed and $11,760 variable). (a) Calculate the total, budget, and volume variances for overhead. Total overhead variance $ Overhead budget variance $ Overhead volume variance $ 4
Transcribed Image Text:Blossom Company's overhead rate was based on estimates of $189,600 for overhead costs and 18,960 direct labour hours. Blossom's standards allow 2 hours of direct labour per unit produced. Production in May was 840 units, and actual overhead incurred in May was $19,000. The overhead budgeted for 1,680 standard direct labour hours is $16,500 ($4,740 fixed and $11,760 variable). (a) Calculate the total, budget, and volume variances for overhead. Total overhead variance $ Overhead budget variance $ Overhead volume variance $ 4
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