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13-49 Variances

Study Appendix 13. 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. Under applied overhead ______ ______ _____