Question: Point Manufacturing Company uses the standard costing method The company s
Point Manufacturing Company uses the standard costing method. The company’s main product is a fine-quality pen that normally takes 5.1 hours to produce. Normal annual capacity is 20,000 direct labor hours, and budgeted fixed overhead costs for the year were $10,000. During the year, the company produced and sold 4,000 units. Actual fixed overhead costs were $10,200. Compute the fixed overhead rate per direct labor hour, and determine the fixed overhead budget and volume variances.
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