Question: Please help with the numberd provided in this questions. The following information relates to Longman, Inc. ' s overhead costs for the month: ( Click
Please help with the numberd provided in this questions.
The following information relates to Longman, Inc. s overhead costs for the month:
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Requirements
Compute the overhead variances for the month: variable overhead cost variance, variable overhead efficiency variance, fixed overhead cost variance, and fixed overhead volume variance.
Explain why the variances are favorable or unfavorable.
Begin by selecting the formulas needed to compute the variable overhead and fixed overhead variances, and then compute each variance amount.Actual hours Standard hours allowedtimes Standard cost
Actual overhead Budgeted overhead
Budgeted overhead Allocated overhead
VOH cost variance
VOH efficiency variance
FOH cost variance
FOH volume variance Data table
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