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How to explain and report this to our class reporting? CoursHeroTranscribedText: Sutherland Products uses standard...

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Accounting

How to explain and report this to our class reporting?

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CoursHeroTranscribedText: Sutherland Products uses standard costing. The following information about overhead was generated during August: Standard variable overhead rate $2 per machine hour Standard fixed overhead rate $3 per machine hour Actual variable overhead costs $443,200 Actual fixed overhead costs $698,800 Budgeted fixed overhead costs $700,000 Standard machine hours per unit produced 12 Good units produced 18,940 Actual machine hours 228,400 Compute the variable overhead spending and efficiency variances and the fixed overhead budget and volume variances using formulas or diagram form

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