14 Required information [The following information applies to the questions displayed below.) Antuan Company set the following standard costs for one unit of its product. Part 1 of 4 Direct materiale (3.0 Ibs. $6.00 per Ib.) Direct labor (1.9 hrs. $14.00 per hr.) Overhead (1.9 hrs. + $18.50 per hr.) Total standard cost $18.00 26.60 35.15 $79.75 3 points Skipped The predetermined overhead rate ($18.50 per direct labor hour) is based on an expected volume 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. eBook Print $135,000 Overhead Budget (758 Capacity) Variable overhead costs Indirect materials $ 15,000 Indirect labor 75,000 Power 15,000 Repairs and maintenance 30,000 Total variable overhead costs Fixed overhead costs Depreciation-Building 23,000 Depreciation Machinery 72,000 Taxes and insurance 16,000 Supervision 281,250 Total fixed overhead costs Total overhead costs 392,250 $527,250 The company incurred the following actual costs when it operated at 75% of capacity in October $ 282,100 328,900 Direct materials (45,500 Tbs. $6.20 per lb.) Direct labor (23,000 hrs. $14.30 per hr.) Overhead costs Indirect materials Indirent lan $ 41,000 176.190 Saved apter 8 Homework 14 16,000 281,250 Taxes and insurance Supervision Total fixed overhead costs Total overhead costs 392,250 $527,250 att 1 of 4 The company incurred the following actual costs when it operated at 75% of capacity in October $ 282,100 328,900 ints Skipped Direct materials (45,500 lbs. e $6.20 per lb.) Direct labor (23,000 hrs. $14.30 per hr.) Overhead costs Indirect materials Indirect labor Power Repairs and maintenance Depreciation-Building Depreciation Machinery Taxes and insurance Supervision Total costs $ 41,000 176,350 17,250 34,500 23,000 97,200 14,400 281,250 Book 684,950 $1,295,950 Print Required: 1& 2. Prepare flexible overhead budgets for October showing the amounts of each variable and fixed cost at the 65%, 75%, and 85% capacity levels and classify all items listed in the fixed budget as variable or fixed. ANTUAN COMPANY Flexible Overhead Budgets For Month Ended October 31 Flexible Budget Flexible Budget for Variable Amount Total Fixed 65% of 75% of 85% of per Unit Cost capacity capacity capacity Sales (in units) Variable overhead costs Prav 14 15 16 Next > 17 of 17 !!! Part 1 of 4 Required: 1&2. Prepare flexible overhead budgets for October showing the amounts of each variable and fixed cost at the 65%, 75%, and 85% capacity levels and classify all items listed in the fixed budget as variable or fixed. 3 points Skipped ANTUAN COMPANY Flexible Overhead Budgets For Month Ended October 31 Flexible Budget Flexible Budget for Variable Amount Total Fixed 65% of 75% of 85% of per Unit Cost capacity capacity capacity eBook Sales (in units) Variable overhead costs Print $ 0.00 0 0 0 Fixed overhead costs 0 0 0 Total overhead costs 8 Homework Seved Help Save & Exit Subm Check my work $ 202,100 328.900 4 Direct materials (45,500 lbs. $6.20 per lb.) Direct labor (23,000 hrs. $14.30 per he.) Overhead coats Indirect materials Indirect labor Power Repairs and maintenance Depreciation-Balding Depreciation Machinery Taxes and insurance Supervision Total coate $41,000 176.350 17,250 34,500 23.000 97,200 14.400 201,250 684,950 $1,295,950 3. Compute the direct materials cost variance, including its price and quantity variances, (Indicate the effect of each variance by selecting for favorable, unfavorable, and No variance.) Standard Cost Actual Cost $ 0 $ 0 $ Check $ 282,100 328,900 Direct materials (45,500 lbs. $6.20 per lb.) Direct labor (23,000 hrs. $14.30 per he.) Overhead costs Indirect materials Indirect labor Power Repairs and maintenance Depreciation-Building Depreciation Machinery Taxes and insurance Supervision Total costs $ 41,000 176,350 17,250 34,500 23,000 97,200 14,400 281,250 684,950 $1,295,950 4. Compute the direct labor cost variance, including its rate and efficiency variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and No variance. Round "Rate per hour" answers to two decimal places.) Actual Cost Standard Cost $ 0 $ 0 $ wuawa Total costa $1,295,950 5. Prepare a detailed overhead variance report that shows the variances for individual items of overhead. (Indicate the effect of each variance by selecting for favorable, unfavorable, and No variance.) ANTUAN COMPANY Overhead Variance Report For Month Ended October 31 Expected production volume Production level achieved Volume variance Flexible Budget Actual Results Variances Fav./Unfav. Variable costs Fixed costs Total overhead costs