Question: Masters Company applies overhead using machine hours and reports the following information. Compute the total variable overhead cost variance. Actual machine hours used . .

Masters Company applies overhead using machine hours and reports the following information. Compute the total variable overhead cost variance.
Actual machine hours used . . . . . . . . . . . . . . . . . . . . . 4,950 hours
Standard machine hours . . . . . . . . . . . . . . . . . . . . . . . 5,000 hours
Actual variable overhead rate per hour . . . . . . . . . . . . . . . . $4.10
Standard variable overhead rate per hour . . . . . . . . . . . . . . . $4.00

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