During the year a factory produced 225,000 units. At this activity level factory overhead cost were $ 1,100,000. Before the start of the year accountant of the factory estimated annual activity level as 250,000 units and factory overhead as $ 1,250,000. Thus factory overhead applied rate was $5 per unit. 60% of factory overhead applied rate is composed of variable cost. Required: (1). Budgeted fixed factory overhead. (2). Under or over-applied factory overhead. (3). Volume variance. (4). Budget variance.

During the year a factory produced 225,000 units. At this activity lev

1.	During the year a factory produced 225,000 units. At this activity level factory overhead cost were $ 1,100,000. Before the start of the year accountant of the factory estimated annual activity level as 250,000 units and factory overhead as $ 1,250,000. Thus factory overhead applied rate was $5 per unit. 60% of factory overhead applied rate is composed of variable cost. Required: (1). Budgeted fixed factory overhead. (2). Under or over-applied factory overhead. (3). Volume variance. (4). Budget variance.
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