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The Winnipeg Chemical Company uses flexible budgets and a standard cost system.

• Direct-labor costs incurred, 12,000 hours, $150,000
• Variable-overhead costs incurred, $37,000
• Fixed-overhead flexible-budget variance, $1,600, favorable
• Finished units produced, 1,800
• Fixed-overhead costs incurred, $38,000
• Variable overhead applied at $3 per hour
• Standard direct-labor cost, $13 per hour
• Denominator production per month, 2,000 units
• Standard direct-labor hours per finished unit, 6 hours

Prepare an analysis of all variances

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9101966

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