Study Appendix 13 The Winnipeg Chemical Company uses flexible budgets and a standard cost system.
Direct-labor costs incurred, 12,000 hours, $150,000
Variable-overhead costs incurred, $37,000
Fixed-overhead flexible-budget variance, $1,600, favorable
Finished units produced, 1,800
Fixed-overhead costs incurred, $38,000
Variable overhead applied at $3 per hour
Standard direct-labor cost, $13 per hour
Denominator production per month, 2,000 units
Standard direct-labor hours per finished unit, 6 hours.
Prepare an analysis of all variances (similar to exhibit 13-11 which is attached).
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