The following information for the past year is available from Thinnews Co., a...
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Accounting
The following information for the past year is available from Thinnews Co., a company that uses machine hours to apply standard factory overhead cost to outputs:
Actual total factory overhead cost incurred
$
24,000
Actual fixed overhead cost incurred
$
10,000
Budgeted fixed overhead cost
$
11,000
Actual machine hours
5,000
Standard machine hours allowed for the units manufactured
4,800
Denominator volumemachine hours
5,500
Standard variable overhead rate per machine hour
$
3.00
Under a three-variance breakdown (decomposition) of the total factory overhead variance, the factory overhead efficiency variance (to nearest whole dollar) is:
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