E8-26
ComplexChemComplexChem​,
​Inc., produces chemicals for large biotech companies. It hasthe following data for manufacturing overhead costs duringAugust
20172017​:
|
Actual costs incurred | $30,500 | $15,500 | Costs allocated to products | $32,000 | $14,200 | Flexible budget | — | $13,200 | Actual input x budgeted rate | $32,200 | — |
|
Requirement
Fill in the blanks. Use F for favorable and U for​unfavorable:
​(If no variance exists leave the dollar value blank. Label thevariance as favorable​ (F), unfavorable​ (U) or never a variance​(N).)
| | Variable |
(1) | Spending variance | | |
(2) | Efficiency variance | | |
(3) | Production-volume variance | | |
(4) | Flexible-budget variance | | |
(5) | Underallocated(overallocated) manufacturing overhead | | |
| | | |
| | VARIABLE | FIXED | |
-1 | Spending variance | $ | $ | |
-2 | Efficiency variance | | | |
-3 | Production-volume variance | | | |
-4 | Flexible-budget variance | | | |
-5 | Underallocated (overallocated) | | | |
| manufacturing overhead | | | |
| | | | | | | | |
