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Required information {The following information applies to the questions displayed below) Antuan Company set the following standard costs for one unit of its product. $12.00 22.00 Direct materials (3.0 Ibs. @ $4.00 per Ib.) Direct labor (2.0 hrs. @ $11.00 per hr.) Overhead (2.0 hrs. @ $18.50 per hr.) Total standard cost 37.00 $71.00 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. Overhead Budget (758 Capacity) Variable overhead costs Indirect materials $ 15,000 Indirect labor 75,000 Power 15,000 Repairs and 30,000 maintenance Total variable $135,000 overhead costs Fixed overhead costs Depreciation Building 25,000 Depreciation Machinery 72,000 Taxes and insurance 16,000 Supervision 307,000 Total fixed numrhand Required information The company incurred the following actual costs when It operated at 75% of capacity in October. $ 188,600 246,400 Direct materials (46,000 lbs. $4.10 per lb.) Direct labor (22,000 hrs. @ $11.20 per hr.) Overhead costs Indirect materials Indirect labor Power Repairs and maintenance Depreciation-Ruilding Depreciation Machinery Taxes and insurance Supervision Total costs $ 41,050 176,200 17,250 34,500 25,000 97,200 14,400 307,000 712,600 $1,147,600 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. ANTUAN COMPANY Flexible Overhead Budgets For Month Ended October 31 Flexible Budget Flexible Budget for Variable Amount Total Fixed 65% of % 75% of 65% of per Unit Cost capacity capacity capacity 13.000 15.000 17,000 5 15,000 Singinn Variable widts Indirect materials Indirect labor Power Repare and mananca 1.00 5.00 1.00 2.00 13.000 65,000 13.000 28.000 75,000 15.000 30,000 17,000 85,000 17,000 H.000 $ 117,000 135.000 153,000 Total variable costs Fixed overhead costs Depreciation Ouiding Depreciation-Minery Tende Supervision $ 25,000 72,000 16.000 25.000 72.000 18000 307,000 25.000 72 000 16.000 307.000 25,000 72,000 16.000 307,000 307,000 420,000 Totalfond costs Totalread 420.00 420.000 420,000 5 537.000 $ 550.000 S 573.000 ANTUAN COMPANY Flexible Overhead Budgets For Month Ended October 31 Flexible Budget Flexible Budget for Variable Amount Total Fixed 65% of 75% of 85% of Cost capacity capacity capacity 13,000 15,000 17,000 per Unit Sales (in units) Variable overhead costs Indirect materials $ 1.00 15,000 Indirect labor 5.00 13,000 65,000 13,000 17,000 85,000 17,000 34,000 Power 75,000 15,000 30,000 1.00 2 Repairs and maintenance 2.00 26,000 Total variable costs $ 9.00 117,000 135,000 153,000 $ 25,000 Fixed overhead costs DepreciationBuilding DepreciationMachinery Taxes and insurance Supervision 72,000 25,000 72,000 16,000 307,000 25,000 72,000 16,000 307,000 25,000 72,000 16,000 307,000 16,000 307,000 Total fixed costs 420,000 420,000 420,000 555,000 420,000 573,000 Total overhead costs $ 537,000 $ $
