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gizmo_the_mogwai [7]
4 years ago
5

The predetermined overhead rate for concord corporation is $5, comprised of a variable overhead rate of $3 and a fixed rate of $

2. the amount of budgeted overhead costs at normal capacity of $150000 was divided by normal capacity of 30000 direct labor hours, to arrive at the predetermined overhead rate of $5. actual overhead for june was $8288 variable and $5040 fixed, and 1400 units were produced. the direct labor standard is 2 hours per unit produced. the total overhead variance is
Business
2 answers:
dybincka [34]4 years ago
5 0
Actual overhead=8,288+5,040=13,328

Estimated overhead
5×(2×1,400)
5×2800 direct labor hours
=14,000

The total overhead variance
14,000−13,328
=672 over applied
son4ous [18]4 years ago
4 0

Answer:

672 (Favorable)

Explanation:

<em>1. Actual Overheads incurred: </em>

Actual Overheads = Variable Overhead + Fixed Overhead = $8288 +$5040 = $13,328

<em>2. Budgeted / Estimated Overheads: </em>

Estimated Overheads = Predetermined Overhead Rate x Total Hours

Estimated Overheads = $5 x (2 x 1,400) hours = 5 x 2,800 = $14,000

<em>3. Total overhead variance: </em>

Total Overhead Variance = Budgeted Overheads - Actual Overheads

Total Overhead Variance = $14,000 - $13,328 = 672 (Favorable)

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