## Answers

**SOLUTION**

1. Fixed overhead volume variance = Applied Fixed overhead - Budgeted fixed overhead

= ($20*8,780) - 196,000

= $175,600 - 196,000 = $20,400 F

Fixed overhead rate = 196,000/9,800 = $20

2. Variable overhead Spending Variance = Actual variable overhead - (Actual hours * standard rate)

= $183,600 - (9,800 * $15)

= $183,600 - $147,000 = $36,600 U

3. Variable overhead Efficiency Variance = Standard rate*(Actual hours - standard hours allowed)

= $15 * (9,800 - 8,780)

= $15 * 1,020 = $15,300 U

4.

Particulars | Amount ($) |

Actual overhead (189,200+183,600) | 372,800 |

Applied overhead (9,800*15)+(8,780*$20) | 322,600 |

Overhead Over applied | 50,200 |

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