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PART 1-7 Please Assume that the Big Burger Corporation's manufacturing...

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Accounting

PART 1-7 Please image
image
Assume that the Big Burger Corporation's manufacturing faclity actually incurred $2,976,000 of manufacturing overhead for the year. Total fixed manufacturing overhead was budgeted at $3,040,000. Using a standard costing system, the company allocated $2,940,000 of fixed manufacturing overhead to production. Bead the requirements. Requirement 1. Calculate the total fixed manufacturing overhead variance. What does this tell managers? Identify the formula labels and calculate the total overhead variance. (Enter all values as positive numbers Label the variance as faverable (F) or unfavorable (U) in the input fiekd after the amount you enter). Requirements 1. Calculate the total fixed manufacturing overhead variance. What does this tell managers? 2. Determine the fixed overhead budget variance. What does this tell managers? 3. Determine the fixed overhead volume variance. What does this tell managers? 4. Double check: Do the two variances (computed in Requirements 2 and 3) sum to the total overhead variance computed in Requirement 1

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