Exercise 8-24 (Algo) Controllable and volume variances LO P4 Shaw Incorporated began this period with a budget for 1,090 units of predicted production. The budgeted overhead at this predicted activity follows. At period-end, total actual overhead was $101,900, and actual units produced were 990. The company applies overhead with a standard of 3 DLH per unit and a standard overhead rate of $30 per DLH. $ 54,500 44,500 $ 99,000 Variable overhead Fixed overhead Total overhead a. Compute caontrollable variance. b. Compute volume variance. Complete this question by entering your answers in the tabs below. Required A Required B Compute controllable variance. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Controllable Variance Controllable variance Required B

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Present Value

Present value (PV) is defined as the current or present value of all future sums of cash flow or money at a specified rate of return. This rate of return is known as the discounted rate, which is essentially the interest rate, discounted over some time. The expected cash flows are discounted at a discount rate to compute the present value. The higher the discount rate, the higher the future value (FV), but the lower the present value.