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Shamrock Company's overhead rate was based on estimates of $186,000 for overhead costs and 18,600 direct labour hours. Shamrock's standards allow 2 hours of direct labour per unit produced. Production in May was 800 units, and actual overhead incurred in May was $19,000. The overhead budgeted for 1,600 standard direct labour hours is $15,850 ($4,650 fixed and $11,200 variable). (a) Calculate the total, budget, and volume variances for overhead. Total overhead variance Overhead budget variance Overhead volume variance $

Shamrock Company's overhead rate was based on estimates of $186,000 for overhead costs and 18,600 direct labour hours. Shamrock's standards allow 2 hours of direct labour per unit produced. Production in May was 800 units, and actual overhead incurred in May was $19,000. The overhead budgeted for 1,600 standard direct labour hours is $15,850 ($4,650 fixed and $11,200 variable). (a) Calculate the total, budget, and volume variances for overhead. Total overhead variance Overhead budget 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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Shamrock Company's overhead rate was based on estimates of $186,000 for overhead costs and 18,600 direct labour hours. Shamrock's standards allow 2 hours of direct labour per unit produced. Production in May was 800 units, and actual overhead incurred in May was $19.000. The overhead budgeted for 1,600 standard direct labour hours is $15,850 ($4,650 fixed and $11.200 variable). (a) Calculate the total, budget, and volume variances for overhead. Total overhead variance Overhead budget variance Overhead volume variance $
Transcribed Image Text:Shamrock Company's overhead rate was based on estimates of $186,000 for overhead costs and 18,600 direct labour hours. Shamrock's standards allow 2 hours of direct labour per unit produced. Production in May was 800 units, and actual overhead incurred in May was $19.000. The overhead budgeted for 1,600 standard direct labour hours is $15,850 ($4,650 fixed and $11.200 variable). (a) Calculate the total, budget, and volume variances for overhead. Total overhead variance Overhead budget variance Overhead volume variance $
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