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[URGENT] The cheque-clearing office of Pay Loans Company is responsible for processing all cheques that...

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Accounting

[URGENT] The cheque-clearing office of Pay Loans Company is responsible for processing all cheques that come to the company for payment. Managers at the company belleve that varlable overhead costs are essentlally proportional to the number of labour-hours worked in the office, so labour-hours are used as the actlvity base when preparing varlable overhead budgets and performance reports. Data for October, the most recent month, appear below:
\table[[Budgeted labour-hours,1,330],[Actual labour-hours,1,285],[Standard labour-hours allowed for the actual number of cheques processed,1,350]]
\table[[,\table[[Cost],[Formula],[(per],[labour-],[hour)]],\table[[Actual],[Costs],[Incurred in],[October]]],[Variable overhead costs:],[office supplies,$0.6,780],[Staff coffee lounge,.2,317],[Indirect labour,2.20,3,527],[Total variable overhead cost,$3.00,$4,624
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