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CoursHeroTranscribedText: Do Homework - M 6 Homework A - Graded - Personal - Microsoft Edge X https://www.mathxl.com/Student/PlayerHomework.aspx?homeworkld=600991903&questionld=6&flushed=true&cld=6560836¢erwin=yes ACG2071_673510_W E Homework: M 6 Homework A - Graded Question 6, SM6-10 (simi... HW Score: 68.02%, 58.5 of 86 points Part 2 of 6 Score: 2.5 of 10 Save The following information relates to Longman, Inc.'s overhead costs for the month: (Click the icon to view the information.) Requirements 1. Compute the overhead variances for the month: variable overhead cost variance, variable overhead efficiency variance, fixed overhead cost variance, and fixed overhead volume variance. 2. Explain why the variances are favorable or unfavorable. Requirement 1. Compute the overhead variances for the month: variable overhead cost variance, variable overhead efficiency variance, fixed overhead cost variance, and fixed overhead volume variance. Begin by selecting the formulas needed to compute the variable overhead (VOH) and fixed overhead (FOH) variances, and then compute each variance amount (Actual cost - Standard cost) * Actual hours = VOH cost variance 8000 - X (Actual hours - Standard hours allowed) * Standard cost VOH efficiency variance 3200 Data Table 11 1I Actual overhead - Budgeted overhead = FOH cost variance 1600 Budgeted overhead - Allocated overhead = FOH volume variance = 4000 Static budget variable overhead 8,000 Static budget fixed overhead 5 3.200 Static budget direct labor hours 1,600 hours Static budget number of units 4,000 units Longman allocates manufacturing overhead to production based on standard direct labor hours. Last month, Longman reported the following actual results: actual variable overhead, $10,600; actual fixed overhead, $2,840; actual production of 7,200 units at 0.30 direct labor hours per unit. The standard direct labor time is 0.4 direct labor hours per unit (1,600 static direct labor hours / 4,000 static units). Enter any number in the edit fields and then click Check Answer. Print Done Help Me Solve This e Text Pages Get More Help - Type here to search O Y W 9:46 PM S 71 82'F ~ 6 90 ( 1) 8/2/2021

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