Willis Corporation manufactures industrial-sized gas furnaces and uses budgeted machine-hours to allocate variable manufacturing overhead....
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Accounting
Willis Corporation manufactures industrial-sized gas furnaces and uses budgeted machine-hours to allocate variable manufacturing overhead. The following information pertains to the company's manufacturing overhead data:
| Budgeted output | 30,000 units |
| Budgeted machine-hours | 60,000 hours |
| Budgeted variable manufacturing overhead costs for 30,000 units | $480,000 |
| Actual output produced | 29,000 units |
| Actual machine-hours used | 55,000 hours |
| Actual variable manufacturing overhead costs | $436,500 |
What is the variable overhead rate variance?
| $24,000 unfavourable | ||
| $24,000 favourable | ||
| $3,500 favourable | ||
| $3,500 unfavourable |
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