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Concord Company produces one product, a putter called GO-Putter. Concord uses a standard cost system...

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Accounting

Concord Company produces one product, a putter called GO-Putter. Concord uses a standard cost system and determines that it
should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter is 128,000 units per
year. The total budgeted overhead at normal capacity is $1,049,600 comprised of $294,400 of variable costs and $755,200 of fixed
costs. Concord applies overhead on the basis of direct labor hours.
During the current year, Concord produced 121,600 putters, worked 120,800 direct labor hours, and incurred variable overhead
costs of $327,200 and fixed overhead costs of $768,000.
Compute the predetermined variable overhead rate and the predetermined fixed overhead rate. (Round answers to 2 decimal
places, e.g.2.75.)
Variable
Fixed
Predetermined Overhead Rate
$ Compute the applied overhead for Concord for the year.
Overhead Applied
$ Compute the total overhead variance.
Total Overhead Variance
$

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