Use the following information to answer the question below. Forward Venture Company, which uses a standard cost
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- Use the following information to answer the question below.
- Forward Venture Company, which uses a standard cost system, budgeted $500,000 of fixed overhead when 40,000 machine hours were anticipated. Other data for the period were:
- Actual units produced: 10,000
- Standard production time per unit: 3.8
- machine hours Fixed overhead incurred: $550,000
- Actual machine hours worked: 44,000
- 1. Forward Venture Company’s fixed-overhead budget variance is___________.
- 2. Forward Venture Company’s fixed-overhead volume variance is____________.
Related Book For
Cost Management Measuring Monitoring And Motivating Performance
ISBN: 9781118168875
2nd Canadian Edition
Authors: Leslie G. Eldenburg, Susan Wolcott, Liang Hsuan Chen, Gail Cook
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