Monte Industries Has a Standard Costing System

question 168

Essay

Monte Industries has a standard costing system. The following data are available for July:
a. Actual manufacturing overhead cost incurred: $22000
b. Actual machine hours worked: 1600
c. Overhead volume variance: $3600 Unfavorable
d. Total overhead variance: $2000 Unfavorable
e. Overhead is assigned to production on the basis of machine hours
Instructions
Determine the amount of (1) the controllable overhead variance and (2) the overhead applied.

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Definitions:

Strike-Slip Fault

A type of fault where two blocks of the Earth's crust slide past one another in a horizontal direction, with little to no vertical movement.

Horizontal Offset

The displacement of the Earth's surface along a fault line, measured in a horizontal direction.

Fault Scarp

A steep slope or cliff formed as a result of movement along a geological fault, typically found at the Earth's surface.

Carbon-14

A carbon isotope that emits radiation, utilized in radiocarbon dating to ascertain the age of organic matter.