10. Lihue, Inc., applies fixed overhead at the rate of $3.70 per unit. Budgeted fixed overhead was $1,295,370. This month 342,600 units were produced, and actual overhead was $1,275,000.

 

Required:

a. What are the fixed overhead price and production volume variances for Lihue?(Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.)

 

b. What was budgeted production for the month? (Do not round intermediate calculations.)

 11. Mint Company applies fixed overhead at the rate of $1.60 per unit. For May, budgeted fixed overhead was $654,400. The production volume variance amounted to $4,800 unfavorable, and the price variance was $15,000 favorable.

 

Required:

a. What was the budgeted volume in units for May?

 

b. What was the actual volume of units produced in May?

 

c. What was the actual fixed overhead incurred for May?

 

Answer rating: 100% (QA)

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