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Is this Variable O/H spending variance or total O/H spending variance

  • 1.  Is this Variable O/H spending variance or total O/H spending variance

    Posted 12-08-2011 10:56 AM
      |   view attached

     Hi Everybody,

    In this question, the answer is calculated for variable O/H variance but in the question it is asked to calculate total overhead variance.

    Please advise.

    Regards

    Harsh

     



  • 2.  Re: Is this Variable O/H spending variance or total O/H spending variance

    Posted 12-09-2011 06:38 PM

    This question requires total overhead spending variance to be calculated. Total overheads are sum of fixed and variable overheads.

    Total overhead spending variance is calculated = (Actual total overhead - budgeted total overhead at actual activity level)

    Budgeted total overhead at actual activity are calculated as = fixed overhead + variable overhead at actual activity level

    Variable overheads are calculated = direct labour hours x rate = 430,000 x 0.5 = 215,000

    Budgeted total overhead at actual activity = 1,500,000 + 215,000 = 1,715,000

    Total overhead spending variance = 1,600,000 - 1,715,000 = (115,000) favorable (actual expenses are less than budgeted)

    Correct answer is b

    Please note that applied fixed overhead 1,200,000 are irrelevent for this question.

    Hope its is clear for you now

    Best regards,