Creger Corporation, which makes landing gears, has provided the following data for a recent month:...
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Accounting
Creger Corporation, which makes landing gears, has provided the following data for a recent month:
| Budgeted production | 1,500 | gears |
|---|---|---|
| Standard machine-hours per gear | 6.2 | machine-hours |
| Budgeted supplies cost | $ 6.80 | per machine-hour |
| Actual production | 1,200 | gears |
| Actual machine-hours | 7,980 | machine-hours |
| Actual supplies cost (total) | $ 49,772 |
Required:
Determine the rate and efficiency variances for the variable overhead item supplies and indicate whether those variances are favorable or unfavorable.
(Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)
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