Emma Co manufactures electric motors. The company expects to sell 490 units in June and 565 units in July. Beginning and ending finished goods for June is expected to be 25 and 110 units, respectively. July's ending finished goods is expected to be 125 units. The company's variable manufacturing overhead is $6 per unit produced and its fixed manufacturing overhead is $6,170 per month. Emma's manufacturing overhead budget for June $.

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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.