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2 Help Center ? 0/16 pts Question 11 . . . . The Olive...

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Accounting

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2 Help Center ? 0/16 pts Question 11 . . . . The Olive Oyl Corporation calculates four different variances for manufacturing overhead each month. The information for July is as follows: Budgeted units 3,200 units Budgeted fixed manufacturing overhead $20,000 Budgeted variable manufacturing overhead $5 per direct labor hour Budgeted direct manufacturing labor hours 2 hours per unit Fixed manufacturing costs incurred $26.000 Direct manufacturing labor hours used 7.200 DLH Variable manufacturing costs incurred $35,600 Actual units manufactured 3,400 units SHOW ALL CALCULATIONS AND LABELYOUR FINAL ANSWER . . Calculate the following for July using the formulas we used for all assignments 1. Variable Overhead Spending Variance (VOSV) 2. Variable Overhead Efficiency Variance (VOEV) 3. Fixed Overhead Spending Variance (FOSV) 4. Production Volume Variance (PVV) Your Answer: VOSV = actual variable overhead - (standard vararible overhead rate per hour actual hours) VOSV - 35600 - (5 7200) = -400 U VOEV - (actual hours - (standard hours allowed for the output achieved) standard variable overhead rate per hour VOEV = 17200 - (6800) 5= 2000F Dil Do FH 30 fa - A 3 0 96 $ delete + 7 9 8 6 3 4 5 2 {

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