Thomas Technologies budgeted $3,000,000 for fixed overhead for the year, based on a planned production level...

 

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Thomas Technologies budgeted $3,000,000 for fixed overhead for the year, based on a planned production level of 60,000 units. Fixed overhead is applied based on a predetermined rate per unit. Thomas produced 59,700 units. Actual fixed overhead for the year was $3,087,000. Calculate the following variances (You will have 2 answers for each variance. First, enter the amount of the variance as a whole number. Do not use dollar signs, parentheses, negative signs, commas, decimal points, etc.) Second, indicates whether the variance is favorable or unfavorable by entering Favorable or Unfavorable). SHOW YOUR WORK ON A SHEET OF SCRATCH PAPER. TAKE A PHOTO OF THE PAPER AND EMAIL IT TO ME IF YOU WANT TO BE ELIGILBE FOR PARTIAL CREDIT. 1. Fixed overhead budget variance amount 2. Favorable or unfavorable? 3. Fixed overhead volume variance amount 4. Favorable or unfavorable? Thomas Technologies budgeted $3,000,000 for fixed overhead for the year, based on a planned production level of 60,000 units. Fixed overhead is applied based on a predetermined rate per unit. Thomas produced 59,700 units. Actual fixed overhead for the year was $3,087,000. Calculate the following variances (You will have 2 answers for each variance. First, enter the amount of the variance as a whole number. Do not use dollar signs, parentheses, negative signs, commas, decimal points, etc.) Second, indicates whether the variance is favorable or unfavorable by entering Favorable or Unfavorable). SHOW YOUR WORK ON A SHEET OF SCRATCH PAPER. TAKE A PHOTO OF THE PAPER AND EMAIL IT TO ME IF YOU WANT TO BE ELIGILBE FOR PARTIAL CREDIT. 1. Fixed overhead budget variance amount 2. Favorable or unfavorable? 3. Fixed overhead volume variance amount 4. Favorable or unfavorable?

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