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Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of...

Factory Overhead Cost Variances

The following data relate to factory overhead cost for the production of 7,000 computers:

Actual: Variable factory overhead $98,500
Fixed factory overhead 38,500
Standard: 7,000 hrs. at $18 126,000

If productive capacity of 100% was 11,000 hours and the factory overhead cost budgeted at the level of 7,000 standard hours was $140,000, determine the variable factory overhead Controllable Variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $3.5 per hour. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

Variance Amount Favorable/Unfavorable
Controllable variance $ Favorable
Volume variance $ Unfavorable
Total factory overhead cost variance: $ Unfavorable

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