Question
Acme Companys production budget for August is 18,600 units and includes the following component unit costs: direct materials, $8.00; direct labor, $11.50; variable overhead, $5.00.
Acme Companys production budget for August is 18,600 units and includes the following component unit costs: direct materials, $8.00; direct labor, $11.50; variable overhead, $5.00. Budgeted fixed overhead is $43,000. Actual production in August was 19,998 units, actual unit component costs incurred during August include direct materials, $10.00; direct labor, $10.50; variable overhead, $6.00. Actual fixed overhead was $45,600. |
Required: |
Prepare a performance report, including each cost component. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.) |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started