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Wadding Corporation applies manufacturing overhead to products on the basis of standard machine-hours. For the most recent month, the company based its budget on 3,600 machine-hours. Budgeted and actual overhead costs for the month appear below:

..........................budget 3600 hrs....actual
............................costs.............costs

Variable overhead costs:
Supplies...............$11,160..........$11,830
Indirect labor..........26,280...........27,970
Fixed overhead costs:
Supervision.............19,700...........19,340
Utilities................5.900............5,770
Factory depreciation.....6,900............7,210

TOTAL OVERHEAD COSTS.....$69,940.........$72,120

The company actually worked 3,900 machine-hours during the month. The standard hours allowed for the actual output were 3,890 machine-hours for the month. What was the overall variable overhead efficiency variance for the month?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M992084

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