O ezto.mheducation.com Home | myLU Lu Homework: Flexible Budgets Assignment M Question 14 - Homewe xible Budgets Assignment i Saved Help ! 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 (4.0 pounds @ $6.00 per pound) $ 24.00 Direct labor (1.9 hours @ $12.00 per hour) 22.80 Overhead (1.9 hours @ $18.50 per hour) 35 . 15 Standard cost per unit $ 81.95 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, 000 Indirect labor 75, 000 Power 15 , 000 Maintenance 30, 000 Total variable overhead costs 135 , 000 Fixed overhead costs Depreciation-Building 23, 000 Depreciation-Machinery 71, 000 Taxes and insurance 17, 000 Supervisory salaries 281, 250 Total fixed overhead costs 392 , 250 Total overhead costs $ 527, 250 1 5 NOV 21 itv 4 MacBook Air 20 888 DD DII DD F2 F3 F4 F5 F6 F7 F8 F9 F10 @ # $ % & 4 5 6 8 9 0 W E R T Y U OEB View History Bookmarks Window Help O D ezto.mheducation.com Home | myLU Lu Homework: Flexible Budgets Assignment M Question 14 - Homework: Flexible Budgets Assignment i Saved Help The company incurred the following actual costs when it operated at 75% of capacity in October. Direct materials (61, 500 pounds @ $6. 20 per pound) $ 381, 300 Direct labor (23, 000 hours @ $12. 20 per hour) 280, 600 Overhead costs Indirect materials $ 41, 150 Indirect labor 176, 400 Power 17,250 Maintenance 34,500 Depreciation-Building 23, 000 Depreciation-Machinery 95 , 850 Taxes and insurance 15 , 300 Supervisory salaries 281, 250 684, 700 Total costs $ 1, 346, 600 Required: 1. Prepare flexible overhead budgets for October showing amounts of each variable 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 Indirect materials 1 NOV 21 istv A MacBook Air 80 DIL DD A F3 F4 F5 F6 F7 F8 E9 F10 % & 4 5 6 8 O W E R T Y U O PEdit View History Bookmarks Window Help O ezto.mheducation.com Home | myLU Lu Homework: Flexible Budgets Assignment ork: Flexible Budgets Assignment i Saved I. Fitvait IICAIIE uveilItau buqueis IVI ULLUVEI SITUWIIIU allIVHILLS VI tacII vallauIE allu HAEU CUSt at WIFE JJ /0. . Required information ANTUAN COMPANY Flexible Overhead Budgets Variable Amount Total Fixed Flexible Budget at Capacity Level of For Month Ended October 31 per Unit Cost 65% 75% 85% Production (in units Variable overhead costs Indirect materials OK Indirect labor Power ences Maintenance Total variable overhead $ 0.00 o $ Fixed overhead costs Depreciation-Building Depreciation-Machinery Taxes and insurance Supervisory salaries Total fixed overhead $ o $ Total overhead costs 5 NOV 21 utv 4 MacBook Air 20 DII F2 F3 F4 F5 F6 F7 F8 @ S % 8View History Bookmarks Window Help $ 0 7 4 8 Tue ezto.mheducation.com Home | myLU Lu Homework: Flexible Budgets Assignment M Question 15 - Homework: Flexible Budgets Assignment Flexible Budgets Assignment i Saved Help Save & Exit Submit Check my work Indirect labor 176 , 400 Power 17, 250 Maintenance 34, 500 Depreciation-Building 23, 000 Depreciation-Machinery 95 , 850 Taxes and insurance 15, 300 Supervisory salaries 281, 250 684, 700 Total costs $ 1, 346, 600 2. Compute the direct materials variance, including its price and quantity variances. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Actual Cost Standard Cost $ $ 0 $ of ZAV NOV 21 stv T 4 OLEO MacBook Air A 888 F12 20 FA F6 Vo & * @ # 6 9 O N 3 5 T Y U O P W E R S D F G H K X C V B N MTue R D ezto.mheducation.com C Home | myLU Lu Homework: Flexible Budgets Assignment M Question 16 - Homework: Flexible Budgets Assignment . exible Budgets Assignment i Saved Help Save & Exit Submit Check my work Depreciation-Building 23, 000 Depreciation Machinery 95, 850 Taxes and insurance 15, 300 Supervisory salaries 281, 250 684, 700 Total costs $ 1, 346, 600 3. Compute the direct labor variance, including its rate and efficiency variances. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to two decimal places. Actual Cost Standard Cost $ $ C NOV 21 tv 4 MacBook Air DD 20 588 F12 EA @ $ 8 O O W A 5 6 N P W E R T Y U O S D F G H K X C V B N M command option COMA ezto.mheducation.com Lu Homework: Flexible Budgets Assignment Home | myLU Saved : Flexible Budgets Assignment i 4. Prepare a detailed overhead variance report that shows the variances for individual items of overhead. Note: Indicate the effect of each variance 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 or Unfavorable Variable overhead costs Fixed overhead costs NOV 21 . - tv 4 MacBook Air 20 DIL F2 F3 F4 F5 F6 F7 FB