The following information is available for Pacific Fishery: Actual production: 8,400 units Budgeted production: 8,000 units Standard direct labor hours: 2.5 direct labor hours per unit Actual direct labor hours: 22,000 Standard variable overhead rate: $4 per direct labor hour Actual variable overhead costs: $83,000 Calculate the variable overhead spending and efficiency variances.

The following information is available for Pacific Fishery: Actual production: 8,400 units Budgeted production: 8,000 units Standard direct labor hours: 2.5 direct labor hours per unit Actual direct labor hours: 22,000 Standard variable overhead rate: $4 per direct labor hour Actual variable overhead costs: $83,000 Calculate the variable overhead spending and efficiency variances.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter10: Standard Costing And Variance Analysis

Section: Chapter Questions

Problem 58E: At the beginning of the year, Lopez Company had the following standard cost sheet for one of its...

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