The following data for November have been provided by Hunn Corporation, a producer of precision drills for oil exploration: Budgeted production 5,400 drills Standard machine-hours per drill 10.7 Standard indirect labor $10.50 $4.10 Standard power Actual production Actual machine-hours Actual indirect labor Actual power 5,600 37,050 Indirect labor Power $ 396,570 $ 145,660 machine-hours per machine-hour per machine-hour Variable Overhead Rate Variance drills Required: Compute the variable overhead rate variances for indirect labor and for power for November. Indicate whether each of the variances is favorable (F) or unfavorable (U). machine-hours (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)

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The following data for November have been provided by Hunn Corporation, a producer of precision drills for oil exploration:
Budgeted production
Standard machine-hours per drill 10.7
Standard indirect labor
$ 10.50
$4.10
5,600
37,050
Standard power
Actual production
Actual machine-hours
Actual indirect labor
Actual power
5,400
$ 396,570
$ 145,660
Indirect labor
Power
drills.
machine-hours
Variable Overhead
Rate Variance
per machine-hour
per machine-hour
drills
Required:
Compute the variable overhead rate variances for indirect labor and for power for November. Indicate whether each of the variances is
favorable (F) or unfavorable (U).
machine-hours
(Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).
Input all amounts as positive values.)
Transcribed Image Text:The following data for November have been provided by Hunn Corporation, a producer of precision drills for oil exploration: Budgeted production Standard machine-hours per drill 10.7 Standard indirect labor $ 10.50 $4.10 5,600 37,050 Standard power Actual production Actual machine-hours Actual indirect labor Actual power 5,400 $ 396,570 $ 145,660 Indirect labor Power drills. machine-hours Variable Overhead Rate Variance per machine-hour per machine-hour drills Required: Compute the variable overhead rate variances for indirect labor and for power for November. Indicate whether each of the variances is favorable (F) or unfavorable (U). machine-hours (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)
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