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Jay Enterprises collected the following data regardingproduction of one of its products.

Jay Enterprises collected the following data regardingproduction of one of its products.

Jay Enterprises collected the following data regardingproduction of one of its products.

Compute the variable overhead cost variance, the variableoverhead spending variance, the variable overhead efficiencyvariance, the fixed overhead cost variance, the fixed overheadspending variance, and the fixed overhead volumevariance.

Direct labor standard (2 hrs. @ $15/hr.)

$30.00 per finished unit

Actual direct labor hours

60,800 hrs.

Budgeted units

31,000 units

Actual finished units produced

30,000 units

Standard variable OH rate (2 hrs. @ $14.00/hr.)

$28.00 per finished unit

Standard fixed OH rate ($310,000/31,000 units)

$10.00 per unit

Actual variable overhead costs incurred

$857,600

Actual fixed overhead costs incurred

$312,000

Abhinav 04-Dec-2019

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