Question
PLEASE GIVE ME THE WHOLE FORM IF ITS POSSIBLE! THANKS!!! Required information [The following information applies to the questions displayed below.] Antuan Company set the
PLEASE GIVE ME THE WHOLE FORM IF ITS POSSIBLE! THANKS!!!
Required information
[The following information applies to the questions displayed below.] Antuan Company set the following standard costs for one unit of its product.
Direct materials (5.0 Ibs. @ $4.00 per Ib.) | $ | 20.00 |
Direct labor (1.7 hrs. @ $12.00 per hr.) | 20.40 | |
Overhead (1.7 hrs. @ $18.50 per hr.) | 31.45 | |
Total standard cost | $ | 71.85 |
The predetermined overhead rate ($18.50 per direct labor hour) is based on an expected volume of 75% of the factorys capacity of 20,000 units per month. Following are the companys 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 | ||||
Repairs and maintenance | 30,000 | ||||
Total variable overhead costs | $ | 135,000 | |||
Fixed overhead costs | |||||
DepreciationBuilding | 23,000 | ||||
DepreciationMachinery | 71,000 | ||||
Taxes and insurance | 18,000 | ||||
Supervision | 224,750 | ||||
Total fixed overhead costs | 336,750 | ||||
Total overhead costs | $ | 471,750 | |||
The company incurred the following actual costs when it operated at 75% of capacity in October.
Direct materials (76,000 Ibs. @ $4.10 per lb.) | $ | 311,600 | |||
Direct labor (23,000 hrs. @ $12.20 per hr.) | 280,600 | ||||
Overhead costs | |||||
Indirect materials | $ | 41,300 | |||
Indirect labor | 176,500 | ||||
Power | 17,250 | ||||
Repairs and maintenance | 34,500 | ||||
DepreciationBuilding | 23,000 | ||||
DepreciationMachinery | 95,850 | ||||
Taxes and insurance | 16,200 | ||||
Supervision | 224,750 | 629,350 | |||
Total costs | $ | 1,221,550 | |||
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