Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of direct labor hours.                                     Standard Quantity           Standard Rate                  Standard Unit Cost Var. Man. OH                     0.6                                  $0.80                                      $0.48 During August, LLL had the following actual results Units produced and sold-25,300 Actual Variable Overhead-$9,520 Actual Direct Labor Hours-16,300 Variable Overhead Rate Variance?       AH X (SR-AR) I keep getting wrong Variable Overhead Effeciency Variance?     SR X  (SH-AH)m I keep gettimg wrong Variable Overhead Spending Variance? Im not sure the formula for this

ACTUAL Direct Materials Direct Labor Summary Mat. Req. No. Description Amount Time Ticket No. Description Amount Item Amount Direct Materials 132 360 meters at $32 H9 18 hours at $19 Direct Labor 134 50 meters at $32 H12 18 hours at $19 Factory Overhead Total Total Total Cost Feedback V Check My Work 1 & 2. Include the estimated and actual direct materials and direct labor. Include the estimated and applied factory overhead. What is the best explanation for the variances between actual costs and estimated costs. For this purpose, assume that the additional meters of material used in the job were spoiled, the factory overhead rate has proven to be satisfactory, and an inexperienced employee performed the work. a. The direct materials cost exceeded the estimate by $40 because 2 meters of materials were spoiled. b. Management didn't provide enough direction to complete tasks on budget. c. The direct materials cost exceeded the estimate by $320 because 10 meters of materials were spoiled.…

Subject: acounting

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Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of direct labor hours. Information from LLL’s standard cost card follows:    Standard Quantity Standard Rate Standard Unit Cost Variable manufacturing overhead 0.6 $0.80 $0.48   During August, LLL had the following actual results:        Units produced and sold   26,300 Actual variable overhead $ 9,590 Actual direct labor hours   17,000   Required:Compute LLL’s variable overhead rate variance, variable overhead efficiency variance, and over- or underapplied variable overhead. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)   How do I figure out the variable overhead rate variance? I thought it's AH*(SR-AR) 17,000 * (.80- 9,590/17000=.56) 17000 * (.80-.56)= 4,080??  It says not correct?

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