Corey Company provided the following information: Standard fixed overhead rate (SFOR) per direct labor hour...
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Corey Company provided the following information: Standard fixed overhead rate (SFOR) per direct labor hour $10.00 Actual fixed overhead $425,000 Budgeted fixed overhead $500,000 8,500 Actual production in units Standard hours allowed for actual units produced (SH) 42,500 Required Enter amounts as positive numbers and select Favorable (F) or Unfavorable(U). If no variance, enter $0 and select 0. 1. Using the columnar approach, calculate the fixed overhead spending and volume variances. (1) Actual FOH (2) BFOH (3) SH X SFOR 425,000 500,000 425,000 75,000 75,000 Spending Volume 2. Using the formula approach, calculate the fixed overhead spending variance. $ 75,000 Favorable 3. Using the formula approach, calculate the fixed overhead volume variance. 75,000 Unfavorable 4. Calculate the total fixed overhead variance
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