Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i need help correcting the ones i got wrong. can someone help please thank you Indirect factory wages $ $ 504 Power and light 32,400

i need help correcting the ones i got wrong. can someone help please thank you image text in transcribed
image text in transcribed
Indirect factory wages $ $ 504 Power and light 32,400 21,000 18,250 v 71,650 31,896 21,264 17,720 70,880 v 0 20 0 Indirect materials x 530 Total variable cost $ $ Fixed factory overhead costs: Supervisory salaries 20,000 $ 20,000 Depreciation of plant and equipment 36,200 36,200 Insurance and property taxes 15,200 15,200 Total fixed cost S 71.400 $ 71,400 Total factory overhead cost Total controllable variances $ 1,034 $ 264 x Net controllable variance-unfavorable $ 770 Volume variance-favorable: Check My Work Previous eBook Calculator Factory Overhead Cost Variance Report Tiger Equipment Inc., a manufacturer of construction equipment, prepared the following factory overhead cost budget for the Welding Department for May of the current year. The company expected to operate the department at 100% of normal capacity of 8,400 hours. Variable costs: Indirect factory wages $30,240 Power and light Indirect materials 20,160 16,800 Cost Total variable cost Fixed costs: $67,200 Supervisory salaries $20,000 ) Depreciation of plant and equipment 36,200 Insurance and property taxes 15,200 Total fixed cost 71,400 Total factory overhead cost $138,600 During May, the department operated at 8,860 hours, and the factory overhead costs incurred were indirect factory wages, $32,400; power and light, $21,000; indirect materials, $18,250; supervisory salaries, $20,000; depreciation of plant and equipment, $36,200; and insurance and property taxes, $15,200. rhead cost Required: Prepare a factory overhead cost variance report for May. To be useful for cost control, the budgeted amounts should be based on

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Effect Of Audit Quality On The Market Value Of Listed Non Financial Companies In Nigeria

Authors: Dr. Patience Ote Ola

1st Edition

6200479496, 978-6200479495

More Books

Students also viewed these Accounting questions