Overhead Variances
Three Bridges, Inc., shows the following overhead information for the current period:
|
Actual overhead incurred |
$638,400 ($182,400 fixed and $456,000 variable) |
|
Budgeted fixed overhead |
$187,200 (12,000 direct labor hours budgeted) |
|
Standard variable overhead rate |
|
|
per direct labor hour |
$36 |
|
Standard hours allowed for |
|
|
actual production |
14,000 hours |
|
Actual labor hours used |
13,200 hours |
Required
What are the variable overhead price and efficiency variances and the fixed overhead price variance?