ThingOne Company has the following information available for the past year. They use machine hours to allocate overhead. Actual total overhead $81,140 Actual fixed overhead $33,500 Actual machine hours 11,000 Standard hours for the units produced 10,400 Standard variable overhead rate $4.60 What is the variable overhead efficiency variance? Enter the amount as positive number. Variable overhead efficiency variance $fill in the blank 1
Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
ThingOne Company has the following information available for the past year. They use machine hours to allocate
| Actual total overhead | $81,140 |
| Actual fixed overhead | $33,500 |
| Actual machine hours | 11,000 |
| Standard hours for the units produced | 10,400 |
| Standard variable overhead rate | $4.60 |
What is the variable overhead efficiency variance? Enter the amount as positive number.
| Variable overhead efficiency variance | $fill in the blank 1 |
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