Cost Accounting Quiz
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STANDARD COSTING AND VARIANCE ANALYSIS
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For the month of August, Nova Corp. gathered the following data:
- Static budget fixed overhead: $480,000, based on a denominator level of 60,000 direct labor-hours (DLH).
- Actual results: 40,000 units were produced, and 62,000 DLH were worked.
- Standard: 1.5 DLH are allowed per unit.
- Actual fixed overhead incurred: $495,000.
What is Nova Corp.'s fixed overhead budget variance for August?
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