Homework Chapter 8 Saved Help Save & Exit Submit Check my work 4 Problem 8-3A Flexible budget preparation; computation of materials, labor, and overhead variances; and overhead variance report LO P1, P2, P3, C2 The following information applies to the questions displayed below. Antuan Company set the following standard costs for one unit of its product. Part 1 of 4 Direct materials (4.0 Ibs. 4.00 per Ib. $16.00 Direct labor (1.6 hrs. 12.00 per hr. Overhead (1.6 hrs. $18.50 per hr.) Total standard cost 19.20 29.60 $64.80 points eBook 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. Print Variable overhead costs Indirect materials Indirect labor 15,000 75,000 15,000 References Power Repairs and maintenance Total variable overhead costs $135,000 Fixed overhead costs Depreciation-Building Depreciation-Machinery Taxes and insurance Supervision Total fixed overhead costs 24, 000 70,000 16,000 199,000 309,000 $444,000 Total overhead costs The company incurred the following actual costs when it operated at 75% of capacity in October. Direct materials (61,500 Ibs. 4.20 per 1b. $ 258,300 Check my work Direct labor (21,000 hrs. $12.20 per hr.) Overhead costs 256,200 41,500 176,850 17,250 34,500 24,000 94,500 14,400 Indirect materials Indirect labor Repairs and maintenance Depreciation-Building Depreciation-Machinery Taxes and insurance Supervision Part 1 of 4 3 points 199,000602,000 $1,116,500 Total costs Problem 8-3A Part 1&2 Print Required: 1&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 References ANTUAN COMPANY Flexible Overhead Budgets For Month Ended October 31 Flexible Budget Flexible Budget for 75% of Variable Amount 85% of Total Fixed Cost 65% of Sales (in units) Variable overhead costs 13,000 15,000 17,000 Indirect materials Indirect labor Power Repairs and maintenance 16.00 19.20 Check my work Required information ANTUAN COMPANY Flexible Overhead Budgets For Month Ended October 31 Part 1 of4 Flexible Budget for 75% of Flexible Budget Variable Amount Total Fixed 65% of 85% of points ca Sales (in units) Variable overhead costs 13,000 15,000 17,000 Indirect materials Indirect labor Power Repairs and maintenance 16.00 19.20 Print otal variable costs 35.20 References Fixed overhead costs 24,000 94.500 14,400 199,000 31,900 24,000 94,500 14,400 199,000 331,900 24,000 94,500 14,400 199,000 331,900 24,000 94,500 14,400 199,000 331,900 achinery Taxes and insurance Supervision otal fixed costs Total overhead costs