Shaw Incorporated began this period with a budget for 1,070 units of predicted production. The budgeted overhead at this predict activity follows. At period-end, total actual overhead was $99,700, and actual units produced were 970. The company applies overhead with a standard of 3 DLH per unit and a standard overhead rate of $30 per DLH. $ 53,500 43,500 $ 97,000 Variable overhead Fixed overhead Total overhead a. Compute controllable variance. b. Compute volume variance. Complete this question by entering your answers in the tabs below.

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Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.