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I appreciate any help you can provide me Required Information [The following information applies to the questions displayed below.] Antuan Company set the following standard
I appreciate any help you can provide me
Required Information [The following information applies to the questions displayed below.] Antuan Company set the following standard costs per unit for its product. Direct materials (4.6 pounds @ $5.ee per pound) $ 20.00 Direct labor (2.0 hours @ $14.ee per hour) 28.ee Overhead (2.0 hours $18.58 per hour) 37.ee Standard cost per unit $ 85.00 The standard overhead rate ($18.50 per direct labor hour) is based on a predicted activity level 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. Overhead Budget (75% Capacity) Variable overhead costs Indirect materials $ 15,eee Indirect labor 75,600 Power 15,eee Maintenance 30.ee Total variable overhead costs 135, eee Fixed overhead costs Depreciation-Building 23,eee Depreciation Machinery 71,600 Taxes and insurance 17,eee Supervisory salaries 3e9,800 Total fixed overhead costs 420.ee Total overhead costs $ 555, eee The company Incurred the following actual costs when it operated at 75% of capacity in October Direct materials (61,500 pounds @ $5.10 per pound) $ 313,650 Direct labor (21,eee hours $14.30 per hour) 380, 300 Overhead costs Indirect materials $ 41,700 Indirect labor 176,150 wer 17,250 Maintenance 34,588 Depreciation-Building 23, eee Depreciation-Machinery 95,85 Taxes and insurance 15,300 Supervisory salaries 309,00 712,750 Total costs $ 1,326,700 Required: 1. Prepare flexible overhead budgets for October showing amounts of each varlable and fixed cost at the 65%, 75% and 85% capacity levels. ANTUAN COMPANY Flexible Overhead Budgets Flexible Budget at Capacity Level of For Month Ended October 31 Variable Amount Total Fixed per Unit Cost 65% 75% 85% Production (in units) Variable overhead costs S 0.00 $ 0 $ 01 S 0 Fixed overhead costs $ 0 $ 01 S 0 S 0 Total overhead costs 2 Compute the direct materials variance, Including its price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Actual Cost Standard Cost 0 $ 0 $ 0 0 0 3. Compute the direct labor varlance. Including its rate and efficiency variances. (Indicate the effect of each varlance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to two decimal places.) Actual Cost Standard Cost $ 0 $ 0 $ 0 4. Prepare a detailed overhead varlance report that shows the variances for Individual items of overhead. (Indicate the effect of each varlance by selecting favorable, unfavorable, or no variance.) ANTUAN COMPANY Overhead Variance Report For Month Ended October 31 Expected production volume Production level achieved Volume Variance Flexible Budget Actual Results Variances Favorable/Unfavorable Variable overhead costs Fixed overhead costs Total overhead costs Volume Variance S 0 Volume variance Total overhead varianceStep by Step Solution
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