33 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 2 Direct materials (4.0 lbs. $4.00 per Ib.) Direct labor (1.6 hrs. $11.00 per hr.) Overhead (1.6 hrs. $18.50 per hr.) Total standard cost $16.00 17.60 29.60 $63.20 8 03:45:51 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. $135,000 Overhead Badget 754 Capacity) Variable overhead costa Indirect materials $ 15,000 Indirect labor 75,000 Power 15,000 Repairs and maintenance 30.000 Total variable overhead coats Fixed overhead coats Depreciation-Building 24,000 Depreciation Machinery 72,000 Taxes and insurance 18,000 Supervision 195,000 Total fixed overhead conta Total overhead costs 309,000 $444,000 The company incurred the following actual costs when it operated at 75% of capacity in October 33 34 of 34 !!! ME G WE w Total fixed overhead costs Total overhead costs 309,000 $444,000 The company incurred the following actual costs when it operated at 75% of capacity in October $ 252, 150 248,600 Direct materials (61,500 lbs. @ $4.10 per lb.) Direct labor (22,000 hrs. e $11.30 per hr.) Overhead costs Indirect materials Indirect labor Power Repairs and maintenance Depreciation-Building Depreciation Machinery Taxes and insurance Supervision Total costs $ 41,600 176, 450 17,250 34,500 24,000 97,200 16,200 195,000 602,200 $1,102,950 Required: 182. 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 Variable Amount Total Fixed 65% of per Unit Cost capacity Flexible Budget for 75% of 85% of capacity capacity Sales (in units) Variable overhead costs CURLADI mi VLLAH 3 Required: 182. 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. 2 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 Cost capacity capacity capacity -45:37 per Unit Sales (in units) Variable overhead costs Fixed overhead costs Total overhead costs