Restore Company manufactures jeans. In June, Restore made 500 pairs of jeans, but had budgeted production...

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Restore Company manufactures jeans. In June, Restore made 500 pairs of jeans, but had budgeted production at 800 pairs of jeans. The allocation base for overhead costs is direct labor hours. The following additional data is available for the month: (Round intermediary calculations to two decimal places and final answers to the nearest whole dollar, $X.XX. Enter a "0" for any zero balances. For any $0 variances, enter N/A for the label. Abbreviation used: DLHr = per hour of direct labor.) View the additional data, Calculate the following variances: The variable overhead cost variance is The variable overhead efficiency variance is The total variable overhead variance is The fixed overhead cost variance is The fixed overhead volume variance is The total fixed overhead variance is Additional Data Variance Amount Label Variable overhead cost standard Direct labor efficiency standard Actual amount of direct labor hours Actual cost of variable overhead Fixed overhead cost standard Budgeted fixed overhead Actual cost of fixed overhead $0.95 per DLHr 3 DLHr per jean 2,530 DLHr $1,771 $0.44 per DLHr $1,060 $800 - X Restore Company manufactures jeans. In June, Restore made 500 pairs of jeans, but had budgeted production at 800 pairs of jeans. The allocation base for overhead costs is direct labor hours. The following additional data is available for the month: (Round intermediary calculations to two decimal places and final answers to the nearest whole dollar, $X.XX. Enter a "0" for any zero balances. For any $0 variances, enter N/A for the label. Abbreviation used: DLHr = per hour of direct labor.) View the additional data, Calculate the following variances: The variable overhead cost variance is The variable overhead efficiency variance is The total variable overhead variance is The fixed overhead cost variance is The fixed overhead volume variance is The total fixed overhead variance is Additional Data Variance Amount Label Variable overhead cost standard Direct labor efficiency standard Actual amount of direct labor hours Actual cost of variable overhead Fixed overhead cost standard Budgeted fixed overhead Actual cost of fixed overhead $0.95 per DLHr 3 DLHr per jean 2,530 DLHr $1,771 $0.44 per DLHr $1,060 $800 - X

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Answer To calculate the variances we need to use the following formulas 1 Variable Overhead Cost Variance Variable Overhead Cost Variance Actual Varia... View the full answer