Ask Question
8 November, 01:57

Warner Company has the following data for the past year:

Actual overhead $470,000

Applied overhead:

Work-in-process inventory $100,000

Finished goods inventory 200,000

Cost of goods sold 200,000

Total $500,000

Warner uses the overhead control account to accumulate both actual and applied overhead.

Calculate the overhead variance for the year.

+3
Answers (1)
  1. 8 November, 02:20
    0
    The overhead variance for the year is $ 30000 and is Favorable/overapplied.

    Explanation:

    Overhead variance = Actual overhead - Applied overhead

    = $470,000 - $500,000

    = - $30000

    Therefore, the overhead variance for the year is $ 30000 and is Favorable/overapplied.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Warner Company has the following data for the past year: Actual overhead $470,000 Applied overhead: Work-in-process inventory $100,000 ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers