Hockey Accessories Corporation manufactured 23,000 duffle bags during March. The following fixed overhead data pertain to March: Actual Static Budget Production Machine-hours 23,000 units 13,100 hours 14,100 hours 23,500 units Fixed overhead costs for March $626,100 $634,500 What is the amount of fixed overhead allocated to production? (Round intermediary calculations two decimal places and your final answer to the nearest whole dollar.) OA. $639,711 OB. $634,500 OC. $612,779 OD. $621,000
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.
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