Exact Corporations accountant left for vacation before completing the monthly cost variance report. The corporations president has

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Exact Corporation’s accountant left for vacation before completing the monthly cost variance report. The corporation’s president has asked you to complete the report. The following data are available (capacities are expressed in machine hours):

Actual machine hours...............20,100

Standard machine hours allowed .........20,500

Actual variable overhead ............(a)

Standard variable overhead rate .........$2.00

Variable overhead spending variance.......$250 (F)

Variable overhead efficiency variance ........(b)

Actual fixed overhead ...............(c)

Budgeted fixed overhead ............$153,000

Fixed overhead budget variance ..........$500 (U)

Fixed overhead volume variance ..........$750 (F)

Normal capacity in machine hours ........(d)

Standard fixed overhead rate............(e)

Fixed overhead applied ............(f)


Required

Analyze the data and fill in the missing amounts.


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Related Book For  book-img-for-question

Principles of Accounting

ISBN: 978-1133626985

12th edition

Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson

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