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Home Q & A Board Other Fields Homework Help Business Accounting
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bernie2981 bernie2981
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8 years ago
LampLight Industries gathered the following information for the month of July:

Overhead flexible budget:

Number of units   10,000   13,000   16,000
Standard machine hours   13,500   17,500   21,500
         
Budgeted variable overhead costs:   $30,000   $29,000   $48,000
Budgeted fixed overhead costs:   $53,250   $53,500   $63,000

LampLight actually produced 14,000 units in 17,500 machine hours. Total actual overhead cost of $85,500 consisted of $35,000 variable costs and $50,500 fixed costs. The standard variable and fixed overhead rates are based on a master (static) budget of 15,000 units. Assume the allocation base for fixed overhead costs is the number of units.

A. Compute the total manufacturing overhead cost variance.
B. Compute the overhead flexible budget variance.
C. Compute the production volume variance.
Textbook 
Managerial Accounting

Managerial Accounting


Edition: 4th
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nucleinuclei
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8 years ago
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bernie2981 Author
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#2
8 years ago
You're such a dedicated member, I very much appreciate the help.

Marking this solved ✓
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#3
3 years ago
Thank you
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