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You brought your work home one evening, and your nephew spilled his chocolate milk shake on the variance report you were preparing. Fortunately, knowing that overhead was applied based on machine hours, you were able to reconstruct the obliterated information from the remaining data. Fill in the missing numbers below.

You brought your work home one evening, and your nephew spilled his chocolate milk shake on the variance report you were preparing. Fortunately, knowing that overhead was applied based on machine hours, you were able to reconstruct the obliterated information from the remaining data. Fill in the missing numbers below.

Essentials of Business Analytics (MindTap Course List)
Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN:9781305627734
Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Chapter7: Linear Regression
Section: Chapter Questions
Problem 2P: In a manufacturing process the assembly line speed (feet per minute) was thought to affect the...
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You brought your work home one evening, and your nephew spilled his chocolate milk shake on the variance report you were preparing. Fortunately, knowing that overhead was applied based on machine hours, you were able to reconstruct the obliterated information from the remaining data. Fill in the missing numbers below.
 
Note: Round your per machine hour and per unit answers to two decimal places. Indicate the effect of the variance by selecting "Positive" or "Negative". Select "None" and enter "0" for no effect (i.e., zero variance).
Standard Machine hours per unit of output 5 hours
Standard Variable-overhead rate per machine hour      $9
Actual variable-overhead rate per mchine hours          ?
Actual machine hours per unit of output                      ?
Budgeted fixed overhead                                     $27,500
Actual fixed overhead                                               ?
Budgeted production in units                              11,000
Actual production in units                                          ?
Variable-overhead spending variance           $33,000 Unfavorable
Variable-overhead efficiency variance         $126,000 Favorable
Fixed-overhead budget variance                $9,000 Unfavorable
Fixed-overhead volume variance                          ?
Total actual overhead                                       $366,500
Total budgeted overhead(flexible budget)                     ?
Total budgeted overhead(static budget)                      ?
Total applied overhead                                           $446,50
 
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