Refer to Exercise 11-34. Assume that the actual fixed overhead was $420,000. Budgeted fixed overhead was $405,000,
Question:
Refer to Exercise 11-34. Assume that the actual fixed overhead was $420,000. Budgeted fixed overhead was $405,000, based on practical capacity of 33,750 direct labor hours.
Required:
1. Calculate the standard fixed overhead rate based on budgeted fixed overhead and practical capacity.
2. Compute the fixed overhead spending and volume variances.
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Cornerstones of Managerial Accounting
ISBN: 978-0324660135
3rd Edition
Authors: Mowen, Hansen, Heitger
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