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Can you please help me finish this problem? Required information Use the following information for the Exercises below. (Algo) [The following information applies to the
Can you please help me finish this problem?
Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below) Sedona Company set the following standard costs for one unit of its product for this year. Direct material (15 pounds $3.20 per pound) $48.00 Direct labor (10 hours $7.00 per DLH) 70.00 Variable overhead (10 hours 54.18 per DLH) 41.00 Fixed overhead (10 hours a $1.70 per DLH) 17.00 Standard cost per unit $ 176.00 The $5.80 ($4.10 - $170) total overhead rate per direct labor hour (DLH) is based on a predicted activity level of 35700 urits, which is 70% of the factory's capacity of 51,000 units per month The following monthly flexible budget information is available Operating levels of capacity) Flexible Budent 75% Budgeted production (units) 33,150 35,700 38,250 Budgeted direct labor (standard hours) 331,500 357,000 382,500 Budgeted overhead Variable overhead $ 1,359,150 $ 1,463,700 $ 1,568,250 Fixed overhead 606,900 606, 900 606,900 Total overhead $ 1,966,050 5.2,070,680 52,175, 150 During the current month, the company operated at 65% of capacity, direct labor of 320,000 hours were used, and the following actual overhead costs were incurred Actual variable overhead 51,325,000 Actual fixed overhead 649,650 Actual total overhead $ 1,974,650 70% During the current month, the company operated at 65% of capacity, direct labor of 320,000 hours were used, and the following actual overhead costs were incurred. Actual variable overhead $ 1,325,000 Actual fixed overhead 649,650 Actual total overhead $ 1,974,650 Exercise 23-27A (Algo) Computing total variable and fixed overhead variances LO P5 1. Compute the total variable overhead variance and identify it as favorable or unfavorable (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) 2 Compute the total fixed overhead variance and identify it as favorable or unfavorable (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) At 65% of Operating Capacity Standard Direct Labor Hours Overhead Rate Standard Favorable/Unfavorable Direct Labor Standard Actual Overhead Hours Overhead Applied Overhead Variance Vanable overhead vanance $ 4.10 331 500 $ 1,359,150 $ 1,325,000 $ 34 150 Favorable Fixed overhead vanance 170 331,500 649,650 Unfavorable Step by Step Solution
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