Study Appendix 13. Consider the following data for the Rivera Company

Question 13-48, Overhead Variances, on p. 622

13-48 Overhead Variances

Study Appendix 13. Consider the following data for the Rivera Company:

Factory Overhead

Fixed               Variable

Actual incurred                                                                                    $14,200           $13,300

Budget for standard hours allowed for output achieved                      12,500                         11,000

Applied                                                                                    11,600                         11,000

Budget for actual hours of input                                                          12,500                         11,400

From the above information, fill in the blanks below. Be sure to mark your variances F for favourable and U for unfavorable.

a. Flexible-budget variance $______ Fixed $______

Variable $______

b. Production-volume variance $______ Fixed $______

Variable $______

c. Spending variance $______ Fixed $______

Variable $______

d. Efficiency variance $______ Fixed $______

Variable $______