Antuan Company set the following standard costs for one unit of its product.
overneaa variance report to P1, P2, P3, P4 The following information applies to the questions displayed below) Antuan Company set the following standard costs for one unit of its product. Direct materials (5.0 Ibs. @ $5.00 per Ib.) Direct labor (1.9 hrs. @ $12.00 per hr.) Overhead (1.9 hrs. @ $18.50 per hr.) Total standard cost $25.00 22.80 35.15 $82.95 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 Budget (75% 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 24,000 Depreciation-Machinery 70,000 Taxes and insurance 17,000 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. $ 397,800 258,300 Direct materials (76,500 Ibs. @ $5.20 per lb.) Direct labor (21,000 hrs. @ $12.30 per hr.) Overhead costs Indirect materials Indirect labor Power Repairs and maintenance Depreciation-Building Depreciation-Machinery Taxes and insurance Supervision Total costs $ 42,000 176,700 17,250 34,500 24,000 94,500 15,300 281,250 685,500 $1,341,600 T YYPATIN Required information SY UIISU. 18.2. 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 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 Fixed overhead costs Total overhead costs Problem 23-3A Part 3 3. Compute the direct materials cost varlance, Including its price and quantity variances. (Indicate the effect of each verlance by selecting for favorable, unfavorable, and No var lance. Actual Cost Standard Cost Problem 23-3A Part 4 4. Compute the direct labor cost varlance, including its rate and efficiency varlances. Indicate the effect of each varlance by selecting for favorable, untavorable, and No var lance. Round "Rate per hour" answers to two decimal places. Actual Cost Standard Cost 5. Prepare a detalled overnead variance report that shows the variances for individual items of overnead. jina icate the enect OT cech var lance by selecting for favorable, untevorable, and No var lance.) 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
