E11-11 - EXERCISE 1111 Predetermined Overhead Rate Overhead...

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EXERCISE 11–11 Predetermined Overhead Rate; Overhead Variances [ LO4 LO5 LO6 ] Weller Company's flexible budget for manufacturing overhead (in condensed form) follows: The following information is available for a recent period: a. The denominator activity of 8,000 machine-hours was chosen to compute the predetermined  overhead rate.  b. At the 8,000 standard machine-hours level of activity, the company should produce 3,200 units of  product.  c. The company's actual operating results were as follows:  Required: 1. Compute the predetermined overhead rate and break it down into variable and fixed cost  elements.  2. What were the standard hours allowed for the year's actual output?  3. Compute the variable overhead spending and efficiency variances and the fixed overhead budget  and volume variances.
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Exercise 11-11  (20 minutes) 1.
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