The following information relates to Osprey Limited: Budgeted production: 500 units. Standard hours per unit: 10. Actual
Question:
The following information relates to Osprey Limited:
Budgeted production: 500 units.
Standard hours per unit: 10.
Actual production: 600 units.
Budgeted fixed overhead: £125,000.
Actual fixed overhead: £120,000.
Actual hours worked: 4900.
Required:
Calculate the following fixed production overhead variances:
(a) Total
(b) Expenditure
(c) Volume.
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