bartoletti fabrication corporation has a standard cost system in which it applies manufacturing overhead to products on the basis of standard machine-hours (mhs) at $9.70 per mh. the company had budgeted its fixed manufacturing overhead cost at $67,000 for the month. during the month, the actual total variable manufacturing overhead was $66,660 and the actual total fixed manufacturing overhead was $70,000. the actual level of activity for the period was 6,600 mhs. what was the total of the variable overhead rate and fixed manufacturing overhead budget variances for the month? garrison 17e rechecks 2021-12-03 multiple choice $2,640 unfavorable $2,640 favorable $5,640 unfavorable $5,640 favorable

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06-12-2022
Business

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bartoletti fabrication corporation has a standard cost system in which it applies manufacturing overhead to products on the basis of standard machine-hours (mhs) at $9.70 per mh. the company had budgeted its fixed manufacturing overhead cost at $67,000 for the month. during the month, the actual total variable manufacturing overhead was $66,660 and the actual total fixed manufacturing overhead was $70,000. the actual level of activity for the period was 6,600 mhs. what was the total of the variable overhead rate and fixed manufacturing overhead budget variances for the month? garrison 17e rechecks 2021-12-03 multiple choice $2,640 unfavorable $2,640 favorable $5,640 unfavorable $5,640 favorable

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Srivastava Srivastava · Answer 1 · 2022-12-13T03:19:16-05:00

Budget variations for fixed manufacturing overhead and variable overhead rate for the month total $5640, which is unfavorable.

Explain the mechanism of variable overhead rate and fixed manufacturing overhead budget?

Actually realized variable overhead rate = [tex]\frac{Actual\\variable\\coverhead}{Actualhours}[/tex]=[tex]\frac{66660}{6600}= 10.1[/tex]

Variance from the budgeted standard variable overhead therefore = (Standard Overhead rate - Actual overhead rate) Realized Hours

= ($9.70 - $10.1) 6,600 = -$2640

Additionally, Fixed Overhead Variance is calculated as Standard Fixed Overhead - Actual Fixed Overhead = $67,000 - $70,000 = -$3,000

Budget variations for the month's variable overhead rate and fixed manufacturing overhead = -$2640 + -$3000 = -$5640

Since the variance's value is negative, it indicates that both variable and fixed expenses are being absorbed excessively, which makes it unfavorable.

Budget variations for fixed manufacturing overhead and variable overhead rate for the month total $5640, which is unfavorable.

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Explain the mechanism of variable overhead rate and fixed manufacturing overhead budget?

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