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#12 only boxes outlined in blue need an answer Required Information [The following information applies to the questions displayed below] Antuan Company set the following
#12 only boxes outlined in blue need an answer
Required Information [The following information applies to the questions displayed below] Antuan Company set the following standard costs per unit for its product. Direct materials (4.0 pounds @ $5.00 per pound) Direct labor (1.7 hours @ $12.00 per hour) Overhead (1.7 hours @ $18.50 per hour) Standard cost per unit The standard overhead rate ($18.50 per direct labor hour) is based on a predicted activity level of 75% of the factory's capacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the 75% capacity level. Overhead Budget (75% Capacity) Variable overhead costs Indirect materials Indirect labor Power Maintenance Total variable overhead costs Fixed overhead costs. Depreciation-Building Depreciation-Machinery Taxes and insurance Supervisory salaries. Total fixed overhead costs Total overhead costs Indirect materials Indirect labor Power Maintenance $ 15,000 75,000 Depreciation-Building Depreciation Machinery Taxes and insurance Supervisory salaries Total costs 15,000 30,000 135,000 The company Incurred the following actual costs when It operated at 75% of capacity in October. Direct materials (61,000 pounds @ $5.20 per pound) Direct labor (22,000 hours @ $12.30 per hour) Overhead costs $20.00 20.40 31.45 $71.85 24,000 71,000 17,000 224,750 336,750 $471,750 $ 41,100 176,300 17,250 34,500 24,000 95,850 15,300 224,750 $317,200 270,600 629,050 $1,216,850 4. Prepare a detalled overhead varlance report that shows the varlances for Individual Items of overhead. (Indicate the effect of each varlance by selecting favorable, unfavorable, or no variance.) Expected production volume Production level achieved Volume Variance Variable overhead costs Fixed overhead costs Total overhead costs Volume Variance Volume variance Total overhead variance ANTUAN COMPANY Overhead Variance Report For Month Ended October 31 Flexible Budget Actual Results Variances Favorable/UnfavorableStep by Step Solution
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