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The predetermined overhead rate for Zane Company is $5 comprised of a variable overhead rate of $3 and a fixed rate of $2. The amount of budgeted overhead costs at normal capacity of $150000 was divided by normal capacity of 30000 direct labor hours to arrive at the predetermined overhead rate of $5. Actual overhead for June was $8900 variable and $5400 fixed and 1500 units were produced. The direct labor standard is 2 hours per unit produced. The total overhead variance is
Unlimited Liability
A legal obligation in business where owners are personally responsible for all debts of the business, extending to their personal assets.
Limited Liability
A legal structure that protects business owners' personal assets from company debts and liabilities.
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