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Stels [109]
3 years ago
15

Monty Manufacturing builds playground equipment that it sells to elementary schools and municipalities.​ Monty's management has

contracted you to perform a variance analysis on the fixed manufacturing overhead for its line of slides.​ Monty's cost accounting team informs you that it allocates fixed overhead based on machine hours. This period production was budgeted at
35

slides. Budgeted and actual production data​ follows:

Standard fixed overhead cost per machine hour

$5.00

Standard machine hours per slide

9

Actual production

390

Actual fixed overhead cost

$20,000

What is the fixed manufacturing overhead volume variance in this​ period?

A.

$18,425

unfavorable

B.

$15,975

unfavorable

C.

$15,975

favorable

D.

$18,425

favorable
Business
1 answer:
telo118 [61]3 years ago
5 0

Question

Monty Manufacturing builds playground equipment that it sells to elementary schools and municipalities.​ Monty's management has contracted you to perform a variance analysis on the fixed manufacturing overhead for its line of slides.​ Monty's cost accounting team informs you that it allocates fixed overhead based on machine hours. This period production was budgeted at  35 0 slides

. Budgeted and actual production data​ follows:

Standard fixed overhead cost per machine hour  $5.00

Standard machine hours per slide  9

Actual production  390

Actual fixed overhead cost  $20,000

What is the fixed manufacturing overhead volume variance in this​ period?

Answer:

Fixed overhead volume variance  $1800 Favorable

Explanation:

Standard fixed cost per unit = cost per hour × standard hours

                                             =  $5.00  ×9  = $45

                                                                                     Units

Budgeted  production unit                                      350

Actual       production unit                                        <u>390</u>

Volume variance in (units)                                       40

Standard fixed over cost per unit                           <u>× $45</u>

Fixed overhead volume variance                          <u>  1800 </u>Favorable

Fixed overhead volume variance  $1800 Favorable

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