Bowser Company manufactures two products, Regular and Supreme. Bowser's overhead costs consist of machining (machine hours), $2,600,000 and assembling (number of parts), $1,300,000. Information on the two products is: Direct Labor Hours Machine Hours Number of Parts O $2,340,000 Regular $1,068,000 O $2,032,000 O $1,560,000 O $1,309,500 5,000 3,000 45,000 Supreme 7,500 What is the overhead applied to Supreme using activity-based costing? 10,000 80,000

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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.