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Nora, Inc. manufactures components used by a major cell phone manufacturer. During the year, Nora...

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Accounting

Nora, Inc. manufactures components used by a major cell phone manufacturer. During the year, Nora produced 160,000 components and used 40,500 direct labor hours. Nora based its current year budget on a production level of 150,000 components each of which requires 15 minutes of direct labor time. Total budgeted variable overhead for the year was $131,250. Actual variable overhead for the year was $145,800. What is Noras flexible budget variable overhead variance?

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