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What was the variable overhead spending variance? CoursHeroTranscribedText: The Islander Corporation makes...

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Accounting

What was the variable overhead spending variance?

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CoursHeroTranscribedText: The Islander Corporation makes a variety of leather goods. It uses standards costs and a flexible budget to aid planning and control. Budgeted variable overhead at a 45,000 direct-labor hour level is P27,000. Material purchases were P241,900 during April. Actual direct- labor costs incurred were P140,700. The direct-labor usage variance was P5, 100 unfavorable. The actual average wage rate was P0.20 lower than the average standard wage rate. Scanned with CamScanner The company uses a variable overhead rate of 20% of standard direct-labor cost for flexible budgeting purposes. Actual variable overhead for the month was P30,750

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