Company A's 2014 Production Budget (Both fixed and variable overhead allocation are based on Assemble Department's labor hours)

Company A's 2014 Actual Production

With the given information, calculate the following variances and enter "F" for favorable variance of "U" for unfavorable variance after the dollar amount.

Variable Overhead Spending Variance =

Variable Overhead Efficiency Variance =

Fixed Overhead Volume Variance =

Fixed Overhead Spending Variance =

Materials Price Variance for Assembly Department =

Materials Efficiency Variance for Packaging Department =

Budgeted production: 5,000 units Molding Department Materials Direct Labor Total Molding Department S S S 330,000 (110,000 lbs. @ $3.00/1b.) 150,000 (10,000 hrs. @ $15.00/hr.) 480,000 Assembly Department Materials Direct Labor Total Assembly Department S $ 60.000 (5.000 kits @ $12.00/kit) 65,000 (5,000 hrs. @ $13.00/hr.) 125,000 Packaging Department Materials $ Direct Labor S Total Packaging Departments 17,500 (5,000 boxes @ $3.50/box) 105,000 (7,500 hrs. @ $14.00/hr.) 122,500 Overhead costs: Fixed overhead costs Variable overhead costs Total overhead $ 750,000 $ 600,000 $ 1.350.000 Total Annual Costs $ 2,077,500 Actual production: 5,400 units Molding Department Materials S Direct Labor S Total Molding Departments 357,210.00 (113.400 lbs. @ $3.15/1b.) 153,014.40 (9,936 hrs. @ $15.40/hr.) 510,224.40 Assembly Department Materials $ Direct Labor S Total Assembly Departments 72.468.00 (5.940 kits @ $12.20/kit) 78.732.00 (5,832 hrs @ $13.50/hr.) 151,200.00 Packaging Department Materials S Direct Labor S Total Packaging Departments 25,763.40 (7,020 boxes @ $3.67/box) 109,620.00 (7,560 hrs. @ $14.50/hr.) 135,383.40 Overhead costs: Fixed overhead costs Variable overhead costs Total overhead S 740,000.00 S 560,000.00 $ 1,300,000.00 Total Annual Costs $ 2,096,807.80