Factory Overhead Cost Variance Report Tannin Products Inc. prepared the following factory overhead cost budget for...
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Factory Overhead Cost Variance Report Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for July of the current year, during which it expected to use 18,000 hours for production: Variable overhead costs: Indirect factory labor Power and light $45,000 12,960 Indirect materials 28,800 Total variable overhead cost $86,760 Fixed overhead costs: Supervisory salaries $66,460 Depreciation of plant and equipment 17,490 Insurance and property taxes 32,650 Total fixed overhead cost 116,600 Total factory overhead cost $203,360 Tannin has available 22,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 17,000 hours for production. The actual fixed costs were as budgeted. The actual variable overhead for July was as follows: Actual variable factory overhead costs: Factory Overhead Cost Variance Report Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for July of the current year, during which it expected to use 18,000 hours for production: Variable overhead costs: Indirect factory labor Power and light $45,000 12,960 Indirect materials 28,800 Total variable overhead cost $86,760 Fixed overhead costs: Supervisory salaries $66,460 Depreciation of plant and equipment 17,490 Insurance and property taxes 32,650 Total fixed overhead cost 116,600 Total factory overhead cost $203,360 Tannin has available 22,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 17,000 hours for production. The actual fixed costs were as budgeted. The actual variable overhead for July was as follows: Actual variable factory overhead costs:
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