Novak Company uses a standard cost system. Indirect costs were budgeted at $176,400 plus $14 per direct labour hour. The overhead rate is based on 9,800 hours. Actual results were: Standard direct labour hours allowed Actual direct labour hours Fixed overhead Variable overhead 8,730 9,800 $168,900 $164,900

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Novak Company uses a standard cost system. Indirect costs were budgeted at $176,400 plus $14 per direct labour hour. The
overhead rate is based on 9,800 hours. Actual results were:
Standard direct labour hours allowed
Actual direct labour hours
Fixed overhead
Variable overhead
8,730
9,800
$168,900
$164,900
Transcribed Image Text:Novak Company uses a standard cost system. Indirect costs were budgeted at $176,400 plus $14 per direct labour hour. The overhead rate is based on 9,800 hours. Actual results were: Standard direct labour hours allowed Actual direct labour hours Fixed overhead Variable overhead 8,730 9,800 $168,900 $164,900
Calculate the variable overhead efficiency variance.
Variable overhead efficiency variance $
eTextbook and Media
Calculate the over- or underapplied overhead.
Overhead $
Transcribed Image Text:Calculate the variable overhead efficiency variance. Variable overhead efficiency variance $ eTextbook and Media Calculate the over- or underapplied overhead. Overhead $
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