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Holl Corporation has provided the following data for November. Denominator level of activity 4900 machine-hours Budgeted fixed manufacturing overhead costs $ 58,310 Standard...

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Question

Accounting

Holl Corporation has provided the following data forNovember.

Denominator level of activity

4900

machine-hours

Budgeted fixed manufacturing overhead costs

$

58,310

Standard machine-hours allowed for the actual output

5200

machine-hours

Actual fixed manufacturing overhead costs

$

57,330

Required:

Calculate the following. Input all amounts as positivevalues

FOH Budget Variance

$

FOH Volume Variance

$

Answer & Explanation Solved by verified expert
3.7 Ratings (600 Votes)

FOH Budget Variance

$ 980 Favourable

FOH Volume Variance

$ 3,570 Favourable
  • Working

Fixed Overhead Production Budget Variance

(

Budgeted Fixed Overhead

-

Actual Fixed Overhead incurred

)

(

$                      58,310.00

-

$            57,330.00

)

980

Variance

$                  980.00

Favourable-F

Fixed Overhead Production Volume Variance

(

Standard Fixed Overhead or Fixed Overhead absorbed = ($58310 / 4900 MHs) x 5200 MHs

-

Budgeted Fixed Overhead

)

(

$                      61,880.00

-

$            58,310.00

)

3570

Variance

$              3,570.00

Favourable-F

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