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I need help on this please, anyone? Factory Overhead Cost Variance Report Tiger Equipment Inc., a manufacturer of construction equipment, prepared the following factory overhead
I need help on this please, anyone?
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. Th company expected to operate the department at 100% of normal capacity of 5,200 hours. During May, the department operated at 5,500 standard hours. The factory overhead costs incurred were indirect factory wages, $16,110; power and light, $11,230; indirect materials, $9,400; supervisory salaries, $10,170; depreciation of plant and equipment, $26,080; and insurance and property taxes, $7,950. Required: Prepare a factory overhead cost variance report for May. To be useful for cost control, the budgeted amounts should be based on 5,500 hours. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Round your per unit computations to the nearest cent, if required. If an amount be does not require an entry, leave it blank. Prepare a factory overhead cost variance report for May. To be useful for cost control, the budgeted amounts should be based on 5,500 hours. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Round your per unit computations to the nearest cent, if required. If an amount bo does not require an entry, leave it blankStep by Step Solution
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