The Following Information Was Compiled by Baker Company Compute the Following Variances:
A

question 96

Essay

The following information was compiled by Baker Company: $\begin{array}{ll}\text { Exp ected volume of production } & 50,000 \text { units } \\\text { Actual level of production } & 47,500 \text { units } \\\text { Budgeted fixed overhead } & \$ 400,000 \\\text { Actual fixed overhead } & \$ 415,000 \\\text { Variable overhead rate p er direct- lab or } & \$ 18 \\\text { hour } &\\\text { Actual variable overhead }&\$790,000\\\text { Standard direct- lab or hours allowed }\\\text { per unit produc ed } & 1.0 \text { hour } \\\text { Standard direct- lab or rate per hour } & \$ 32.00 \\\text { Actual direct- lab or hours of input } & 46,500 \text { hours } \\\text { Actual direct- lab or rate per hour } & \$ 33.00\end{array}$ Compute the following variances:
a. Variable factory overhead flexible- budget variance
b. Fixed factory overhead flexible- budget variance
c. Fixed factory overhead production- volume variance

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Definitions:

18th Century

The period ranging from January 1, 1701, to December 31, 1800, in accordance with the Gregorian calendar, marked by significant developments in various fields like science, politics, and art.

Open-Class Societies

Societies characterized by the opportunity for social mobility and the ability for individuals to change their socio-economic status.

Mobility

The ability to move or be moved freely and easily, whether referring to physical movement of individuals or social mobility within hierarchical structures.

Social Class

is a division of a society based on social and economic status, influencing access to resources and opportunities.