13-49 Variances

Consider the following data regarding factory overhead:

Variable Fixed

Budget for actual hours of input $45,000 $70,000

Applied 41,000 64,800

Budget for standard hours allowed

for actual output achieved ? ?

Actual incurred 48,500 68,500

Using the above data, fill in the following blanks with the variance amounts. Use F for favorable or U

for unfavorable for each variance.

Total Overhead Variable Fixed

1. Spending variance ______ ______ ______

2. Efficiency variance ______ ______ ______

3. Production-volume variance ______ ______ ______

4. Flexible-budget variance ______ ______ ______

5. Underapplied overhead ______ ______ ______