Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of direct labor hours. Information from LLL’s standard cost card follows:
Standard Quantity
Standard Rate
Standard Unit Cost
Variable manufacturing overhead
0.6
$0.80
$0.48
During August, LLL had the following actual results:
Units produced and sold
25,200
Actual variable overhead
$
9,510
Actual direct labor hours
16,200
Required:
Compute LLL’s variable overhead rate variance, variable overhead efficiency variance, and over or underapplied variable overhead. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable/Overapplied and "U" for unfavorable/underapplied.)
Variable Overhead Rate Variance
$
Variable Overhead Efficiency Variance
$
Variable Overhead Spending Variance
Answers: 3
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Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of direc...
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