Anker Company had the data below for its most recent year, ended December 31:

Actual costs:					Variable overhead standards:
Indirect labor		$36,000			Indirect labor		0.15 hr. @ $24.00
Supplies		$3,800			Supplies		0.15 hr. @ $2.40
Actual hours worked		1,490	hours		Standard variable overhead rate		$26.40 per direct labor hour
Units produced		10,000	units
Hours allowed for production		1,500	hours

Required:

Prepare a performance report that shows the variances on an item-by-item basis. Enter a favorable variance as a negative amount, and an unfavorable variance as a positive amount.

Cost Formula Anker Company Performance Report For the Year Ended December 31 Budget for Budget for Actual Spending Favorable/ Hours Variance Unfavorable $35,760 $ 240 Unfavorable 3,576 224 Unfavorable Actual Cost 36,000 3,800 Budget for Standard Hours $ 36,000 3,600 Budget for Efficiency Variance $ x Favorable/ Unfavorable Favorable Indirect labor Supplies Favorable Favorable Total $ 39,800 $ 39,336 $ 464 Unfavorable $ 39,600 $ -264