Overhead Variances Study Appendix 13. Consider the following data for the Rivera Company:
Factory Overhead Fixed Variable
Actual incurred $14,200 $13,300
Budget for standard hours allowed for output achieved 12,500 11,000
Applied 11,600 11,000
Budget for actual hours of input 12,500 11,400
From the above information, fill in the blanks below. Be sure to mark your variances F for favorable and U for unfavorable
a. Flexible-budget variance ________Fixed______ Variable________
b. Production-volume variance ________ Fixed __________ Variable __
c. Spending variance ___________ Fixed__________ Variable________
d. Efficiency variance _______ Fixed_____ Variable_______
