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Overhead information for Wilts Company is presented. . Actual fixed overhead, $13,110 Actual variable overhead, $5,620 Budgeted fixed overhead, $13,300 Variable overhead rate, $0.80 Fixed overhead rate, $1.90 • Normal capacity hours, 7,000 Standard hours allowed, 6,900 Determine the overhead controllable and the overhead volume variances. Indicate whether they are favorable or unfavorable. Overhead controllable variance $ Overhead volume variance

Overhead information for Wilts Company is presented. . Actual fixed overhead, $13,110 Actual variable overhead, $5,620 Budgeted fixed overhead, $13,300 Variable overhead rate, $0.80 Fixed overhead rate, $1.90 • Normal capacity hours, 7,000 Standard hours allowed, 6,900 Determine the overhead controllable and the overhead volume variances. Indicate whether they are favorable or unfavorable. Overhead controllable variance $ Overhead volume variance

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Overhead information for Wilts Company is presented. Actual fixed overhead, $13,110 Actual variable overhead, $5,620 Budgeted fixed overhead, $13,300 Variable overhead rate, $0.80 Fixed overhead rate, $1.90 Normal capacity hours, 7,000 Standard hours allowed, 6,900 Determine the overhead controllable and the overhead volume variances. Indicate whether they are favorable or unfavorable. Overhead controllable variance $ Overhead volume variance $
Transcribed Image Text:Overhead information for Wilts Company is presented. Actual fixed overhead, $13,110 Actual variable overhead, $5,620 Budgeted fixed overhead, $13,300 Variable overhead rate, $0.80 Fixed overhead rate, $1.90 Normal capacity hours, 7,000 Standard hours allowed, 6,900 Determine the overhead controllable and the overhead volume variances. Indicate whether they are favorable or unfavorable. Overhead controllable variance $ Overhead volume variance $
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