The Following Selected Information Was Extracted from the Accounting Records $\$ 16$

question 7

Essay

The following selected information was extracted from the accounting records of Lethbridge Corporation:
Planned manufacturing activity: 40,000 machine hours
Standard variable-overhead rate per machine hour: $\$ 16$
Budgeted fixed overhead: $\$ 100.000$
Variable-overhead spending variance: $\$ 92,000 \mathrm{U}$
Variable-overhead eflicieney varianes: $\$ 102.000 \mathrm{~F}$
Fixed-overhead budget varianee: $\$ 25.000 \mathrm{U}$
Total actual overhead: S675,000 Required:
Determine the following: actual fixed overhead, actual variable overhead, actual machine hours worked, standard machine hours allowed for actual production, and the fixed-overhead volume variance.