Factory Overhead Cost Variances The following data relate to factory overhead cost for the production...
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Accounting
Factory Overhead Cost Variances
The following data relate to factory overhead cost for the production of 7,000 computers:
Actual:
Variable factory overhead
$273,300
Fixed factory overhead
63,250
Standard:
7,000 hrs. at $46
322,000
If productive capacity of 100% was 11,000 hours and the factory overhead cost budgeted at the level of 7,000 standard hours was $345,000, determine the variable factory overhead Controllable Variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $5.75 per hour. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
Variance
Amount
Favorable/Unfavorable
Controllable variance
$
Favorable
Volume variance
$
Unfavorable
Total factory overhead cost variance:
$
Unfavorable
Feedback
I have the controllable variance right but not the others.
If you could please show the work too thank you!
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