Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Bottom picture is for a factory overhead cost variance report for the assembly department Chapter 8 Homework eBook Calculator Factory Overhead Cost Variance Report Feeling
Bottom picture is for a factory overhead cost variance report for the assembly department
Chapter 8 Homework eBook Calculator Factory Overhead Cost Variance Report Feeling Better Medical Inc., a manufacturer of disposable medical supplies, prepared the following factory overhead cost budget for the Assembly Department for October of the cument year. The company expected to operate the department at100% of normal apaaty of 850 hours. Variable costs: Indirect factory wages Power and light Indirect materials $25,800 14,362 Total variable cost $57,964 Fixed costs Supervisory salaries $16,620 42,620 13,000 Depreciation of plant and equipment Insurance and property taxes Total fixed cost 72,240 Total factory overhead cost 130,204 During October, the department operated at 9,100 standard hours, and the factory overhead costs incurred were indirect factory wages, $27.570; power and light, $18,500; indirect material Required: is, $15,500: supervisory salaries, $16,620; depreciation of plant and equipment, $42,620; and insurance and property taxes, $13,000 Prepare a factory overhead cost vanance report for October To be useful for cost control the budgeted amounts nould be based on sutOors Entera favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Round your par unit computations to the nearest cent, if required. If an amount box does not require an entry, leave it blank Feeling Better Medical Inc. Check My Work PreviousStep 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