Calculating the Fixed Overhead Spending and Volume Variances Standish Company manufactures consumer products and provided...
50.1K
Verified Solution
Link Copied!
Question
Accounting
Calculating the Fixed Overhead Spending and Volume Variances
Standish Company manufactures consumer products and provided the following information for the month of February:
| Units produced | 131,800 |
| Standard direct labor hours per unit | 0.2 |
| Standard fixed overhead rate (per direct labor hour) | $2.30 |
| Budgeted fixed overhead | $64,500 |
| Actual fixed overhead costs | $68,200 |
| Actual hours worked | 26,500 |
Required:
1. Calculate the fixed overhead spending variance using the formula approach. $fill in the blank 1
2. Calculate the volume variance using the formula approach. $fill in the blank 3
3. What if 127,600 units had actually been produced in February? What impact would that have had? Indicate what the new variances would be below.
| Fixed Overhead Spending Variance | $fill in the blank 5 | |
| Volume Variance | $fill in the blank 7 |
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.