Exercise 11-11 (15 minutes)
Columbia National Bank
Check Clearing Office
Variable Overhead Performance Report
For the Month Ended September 30
Budgeted labor-hours ... 3,080
Actual labor-hours ... 3,100
Standard labor-hours allowed for the actual number of checks processed ... 3,200
(3)
Actual (1)
(2)
Costs
Budget
Total Variance
Based on Breakdown of the
Incurred
Based on
for 3,100
Cost
3,200
3,100
Spending
Labor-
Efficiency
Formula
Total
Hours
Variance
(per labor-
(1) – (2)
(2) – (3)
hour)
(1) – (3)
(SH × SR)
(AH × SR)
(AH × AR)
Overhead Costs
Variable overhead costs:
Office supplies... $0.10 $ 365 $ 310 $ 320 $ 45 U $ 55 U $ 10 F
Staff coffee lounge ... 0.20 520 620 640 120 F 100 F 20 F
Indirect labor ... 0.90 2,710 2,790 2,880 170 F 80 F 90 F
Total variable overhead
cost ... $1.20 $3,595 $3,720 $3,840 $245 F $125 F $120 F
© The McGraw-Hill Companies, Inc., 2006. All rights reserved.
Solutions Manual, Chapter 11 655
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