A company provided the following information

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Practice Problems

FIXED OVERHEAD SPENDING AND VOLUME ARIANCES, COLUMNAR AND FORMULA APPROACHES

A company provided the following information:

Standard fixed overhead rate (SFOR) per direct labour hour $7.00

Actual fixed overhead rate (AFOR) per direct labour hour $6.95

Actual direct labour hours worked (AH) 36,100

Actual production in units 12,000

Standard hours allowed for actual units produced (SH) 36,000

Hint

Accounts & FinanceFixed overhead spending variance: The fixed overhead spending variance is the difference between the actual and budgeted fixed overhead costs. Also, this fixed overhead production volume variance is the difference between the budgeted and applied fixed overhead costs. Also, there is no efficiency variance for the fixed manufacturing overhead....

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