Question
Hollywood Jewellers planned to produce 1,800 necklaces during March with a total overhead budget of $49,600....
Hollywood Jewellers planned to produce 1,800 necklaces during March with a total overhead budget of $49,600. However, while manufacturing the 2,000th necklace the microcomputer that contained the month's cost information broke down. With the computer out of commission, the company has asked you to complete the variance analysis report. The missing information of the report is lettered in the following set of data: Variable overhead: Standard cost per necklace: 0.4 labour hour at $8 per hour Actual costs: $8,400 for 752 hours Flexible budget: a Total flexible-budget variance: b Variable overhead rate variance: c Variable overhead efficiency variance: d Fixed overhead: Budgeted costs: e Actual costs: f Flexible-budget variance: $2,000 favourable Required: 1) Compute the missing elements in the report represented by the lettered items.
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