Please do not give solution in image format thanku The condensed form of Nordstrop Company's flexible budget for manufacturing overhead follows:CostFormulaOverhead CostsVariable costFixed costTotal overhead cost(per machine-hour) 6,500$Machine-Hours1.25Number of units produced3,550Actual machine-hours.7,000Actual variable overhead costs $ 8,960Actual fixed overhead costs $ 12,000Variable rateFixed ratePredetermined overhead rate7,500 8,500$$The following information is available for a recent period:1. The denominator activity of 6,500 machine-hours was chosen to compute the predetermined overhead rate.2. At the 6,500 standard machine-hours level of activity, the company should produce 3,250 units of product.3. The company's actual operating results were as follows:8,125 $ 9,375 $ 10,62511,70019,825 $ 21,075 $22,325Variable overhead spending varianceVariable overhead efficiency varianceFixed overhead budget varianceFixed overhead volume variance11,700Required:1. Compute the predetermined overhead rate and break it down into variable and fixed cost elements. (Round youranswers to 2 decimal places.)11,700per MHper MHper MH2. What were the standard hours allowed for the year's actual output? (Do not round intermediate calculations.)3. Compute the variable overhead spending and efficiency variances and the fixed overhead budget and volumevariances. (Do not round intermediate calculations. Round your answers to 2 decimal places. Indicate the effect of eachvariance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).)

Name: Please do not give solution in image format thanku The condensed form
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Please do not give solution in image format thanku The condensed form of Nordstrop Company's flexible budget for manufacturing overhead follows:CostFormulaOverhead CostsVariable costFixed costTotal overhead cost(per machine-hour) 6,500$Machine-Hours1