13-49 Variances Study Appendix 13 Variances Consider the following data regarding factory overhead:

13-49 Variances Study Appendix 13 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

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