(Solved): 11.24 Fixed and variable overhead variances Glen's Landscaping Supplies uses a standard costing sys ...

11.24 Fixed and variable overhead variances Glen's Landscaping Supplies uses a standard costing system to allocate overhead costs. The accountant estimated 8500 hours as the volume to develop standard overhead rates. Budgeted costs were

for fixed overhead and

for variable overhead. The following results were reported. Required (a) Calculate the spending variances for fixed and variable overhead. (b) Calculate the overhead allocation rates for fixed and variable overhead. (c) Calculate the production volume variance for fixed overhead. (d) Calculate the efficiency variance for variable overhead.