**Factory Overhead Cost Analysis for Manufacturing**The analysis below outlines the standard and actual costs for factory overhead in the manufacture of 2,800 units of actual production:**Standard Costs:**- **Fixed Overhead** (based on 10,000 hours): - 3 hours per unit at $0.73 per hour- **Variable Overhead**: - 3 hours per unit at $2.06 per hour**Actual Costs:**- **Total Variable Cost**: $18,000- **Total Fixed Cost**: $8,200**Total Factory Overhead Cost Variance Calculation:**Identify the variance from the options below:- a. $1,864 favorable- b. $3,032 favorable- c. $1,864 unfavorable- d. $696 unfavorableThe goal is to determine whether the actual costs incurred are favorable or unfavorable compared to the standard costs projected.

Name: **Factory Overhead Cost Analysis for Manufacturing**The analysis belo
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Description: **Factory Overhead Cost Analysis for Manufacturing**The analysis below outlines the standard and actual costs for factory overhead in the manufacture of 2,800 units of actual production:**Standard Costs:**- **Fixed Overhead** (based on 10,000 hours)

Variances are the difference between the standard set and actual performance of the company. It is…

Answered: The standard costs and actual costs for…

Business

Accounting

The standard costs and actual costs for factory overhead for the manufacture of 2,800 units of actual production are as follows:

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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