please help me solve #5!

5) Turfset overhead calcolate how much for wall we be applied be weten hoed variables plied in sonder minderheid level of civity Caption the predstaving to foreheading the table baie buted ovladados abied for PANNED BUDGETED"production inel Fixed Overhead Pre Determined Rate Budgeted Fixed Overhead Costs C80,000 Budgeted DL hours 13,244.40 Predetermined Fixed OH Rate A25 Bhout b) What company uses standard Contoh pidurred on STANDARD HOURS for the clorofile for Pham Company, this is the wadud bowled labore. Use these and hours to calculate the amount of red ved applied be Standard hors from Ibato 15,702 predetermined from 51.3425 Total Fixed or solied 3041792215 c) Calculate and mare Riche Direct Laborarios wing the corrector information. You may want to reference your con 11 HW Make sure yo indicate whether the variante is for and show your work Actualmed on Costs Fred Overhead Varance Budgeted Overhead Standard Cost FOH applied Favorable/Unfavorable Fixed OH spending variance Fixed OH volume vanane Total fixed overhead variance di Summarize the components of overhead controllable varie in the table below Favorable/Unfavorable Variable OH spending variance Variable OH efficiency variance Fixed OH spending variance Total OH controllable variance c) Give one cample of a station that would real FAVORABLE overhead spending variance. Explaining 2013 30 de 1) Give temple of station would result in an UNFAVORABLE Ped overhead volume variance Explaining 2000 words Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected production and sales volume of 16,000 units. PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2019 Sales $ 4,000,000 $1,040,000 160,000 64,000 300,000 198,000 230,000 1,992,000 2,008,000 Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation Plant equipment (straight line) Utilition ($48,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual amount) General and administrative expenses Advertising expense Salaries Entertainment expense Income from operations 80,000 112,000 250,000 442,000 132,000 241,000 90,000 463,000 $ 1,103,000 S 4,813,000 Phoenix Company's actual income statement for 2019 follows. PHOENIX COMPANY Statement of income from Operations For Year Ended December 31, 2019 Sales (19,000 units) Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation Plant equipment straight-line) Utilities (fixed cost is $148,000) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (annual) General and administrative expenses Advertising expenso Salaries Entertainment expense Income from operations $1,252.000 199,000 07.000 300.000 204,000 240.000 2.262.000 2,661,000 93,000 125,500 269.000 487 500 541,000 241.000 93.000 475,000 $ 1588,500 Required: 1. Prepare a flexible budget performance on for 2019 indicate the testach vatanse bylos informeable unfavorable and No variance 4) With respect to variable overhead calculate the following relating to their operating results for the year a) Remember Phoenix Company applies overhead (vanable and fixed) based on direct labor hours. Therefore, the total quantity of input (hours) for variable overhead will equal those of direct labor. Calculate an average variable overhead actual rate as variable overhead expenses divided by direct labor hours (actual). Show 4 decimals. Use this as your actual rate, AR, to calculate spending and efficiency variance below. Note Remember that AH for variable overhead here will be the same as calculated in 3a. Actual Variable OH Costs IXAR 17100x1 6.5497 112000 Variable Overhead Variances Flexible Budget AH X SR 17100 x 8.4705 1448461 32846 11842 Standard Cost (VOH applied SH x SR 15702 x 8.4705 133004 Variable OH spending variance Variable OH efficiency variance Total variable OH variance Favorable/Unfavorable 32846|favorable 11842 unfavorable 21004 favorable b) Give one example of a situation that would result in a FAVORABLE variable overhead rate variance. Explain using 20 to 30 words. c) Give one example of a situation that would result in an UNFAVORABLE variable overhead efficiency variance. Explain using 20 to 30 words. 5) For fixed overhead, calculate how much fixed overhead would have been applied. Remember that overhead (fixed and variable) is applied based on a standard or predetermined rate for a budgeted level of activity Project 5 Page 12 D) Phoenix Company budget amounts are prepared using standards. Follow the instructions provided in (a) through (e) to complete the Standard Card below. Show 4 decimals for all calculated "aty per unit and "cost per iput" amounts. Phoenix Company Standard Cost Card-Current Year (2019) Qty per Cost per Unit Input Direct materials 4.00 lbs. 16.25 Direct labor .8264 hrs. 12.10 Variable Overhead .8264hrs. 8.4705 Std. Cost per Unit (a) 65 10 7 a) Use the Budget expenses (Fixed connect top) Planning or flexible budget) and the number of units to calculate the Standard cost per unit. Include your calculated amounts in the last column for direct material direct labor, and variable overhead Note: For variable overhead, you will need to add all variable overhead costs together b) Phoenix Company sets its material standard at 4 pounds of raw material per unit of finished goods. Calculate the standard cost per pound (input) for direct material as the cost per unit divided by 4. This is the standard price per pound of raw material. Include it in the standard cost card above c) Phoenix Company estimated its standard labor rate at $12.10 per hour. Calculate the standard number of direct labor hours to complete one unit of finished goods. Note: Cost per unit @) divided by 12.10. Include the standard in the table above. d) Phoenix Company applies its overhead based on direct labor hours. Include the standard hours of variable overhead in the standard card above. e) Calculate the standard variable overhead rate and include it in the standard cost card Variable overhead cost per unit divided by standard overhead hours. This is your Check Point. Text/email your Cost Card for 1 to Teri for early review before continuing with the project requirements. 5) Turfset overhead calcolate how much for wall we be applied be weten hoed variables plied in sonder minderheid level of civity Caption the predstaving to foreheading the table baie buted ovladados abied for PANNED BUDGETED"production inel Fixed Overhead Pre Determined Rate Budgeted Fixed Overhead Costs C80,000 Budgeted DL hours 13,244.40 Predetermined Fixed OH Rate A25 Bhout b) What company uses standard Contoh pidurred on STANDARD HOURS for the clorofile for Pham Company, this is the wadud bowled labore. Use these and hours to calculate the amount of red ved applied be Standard hors from Ibato 15,702 predetermined from 51.3425 Total Fixed or solied 3041792215 c) Calculate and mare Riche Direct Laborarios wing the corrector information. You may want to reference your con 11 HW Make sure yo indicate whether the variante is for and show your work Actualmed on Costs Fred Overhead Varance Budgeted Overhead Standard Cost FOH applied Favorable/Unfavorable Fixed OH spending variance Fixed OH volume vanane Total fixed overhead variance di Summarize the components of overhead controllable varie in the table below Favorable/Unfavorable Variable OH spending variance Variable OH efficiency variance Fixed OH spending variance Total OH controllable variance c) Give one cample of a station that would real FAVORABLE overhead spending variance. Explaining 2013 30 de 1) Give temple of station would result in an UNFAVORABLE Ped overhead volume variance Explaining 2000 words Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected production and sales volume of 16,000 units. PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2019 Sales $ 4,000,000 $1,040,000 160,000 64,000 300,000 198,000 230,000 1,992,000 2,008,000 Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation Plant equipment (straight line) Utilition ($48,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual amount) General and administrative expenses Advertising expense Salaries Entertainment expense Income from operations 80,000 112,000 250,000 442,000 132,000 241,000 90,000 463,000 $ 1,103,000 S 4,813,000 Phoenix Company's actual income statement for 2019 follows. PHOENIX COMPANY Statement of income from Operations For Year Ended December 31, 2019 Sales (19,000 units) Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation Plant equipment straight-line) Utilities (fixed cost is $148,000) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (annual) General and administrative expenses Advertising expenso Salaries Entertainment expense Income from operations $1,252.000 199,000 07.000 300.000 204,000 240.000 2.262.000 2,661,000 93,000 125,500 269.000 487 500 541,000 241.000 93.000 475,000 $ 1588,500 Required: 1. Prepare a flexible budget performance on for 2019 indicate the testach vatanse bylos informeable unfavorable and No variance 4) With respect to variable overhead calculate the following relating to their operating results for the year a) Remember Phoenix Company applies overhead (vanable and fixed) based on direct labor hours. Therefore, the total quantity of input (hours) for variable overhead will equal those of direct labor. Calculate an average variable overhead actual rate as variable overhead expenses divided by direct labor hours (actual). Show 4 decimals. Use this as your actual rate, AR, to calculate spending and efficiency variance below. Note Remember that AH for variable overhead here will be the same as calculated in 3a. Actual Variable OH Costs IXAR 17100x1 6.5497 112000 Variable Overhead Variances Flexible Budget AH X SR 17100 x 8.4705 1448461 32846 11842 Standard Cost (VOH applied SH x SR 15702 x 8.4705 133004 Variable OH spending variance Variable OH efficiency variance Total variable OH variance Favorable/Unfavorable 32846|favorable 11842 unfavorable 21004 favorable b) Give one example of a situation that would result in a FAVORABLE variable overhead rate variance. Explain using 20 to 30 words. c) Give one example of a situation that would result in an UNFAVORABLE variable overhead efficiency variance. Explain using 20 to 30 words. 5) For fixed overhead, calculate how much fixed overhead would have been applied. Remember that overhead (fixed and variable) is applied based on a standard or predetermined rate for a budgeted level of activity Project 5 Page 12 D) Phoenix Company budget amounts are prepared using standards. Follow the instructions provided in (a) through (e) to complete the Standard Card below. Show 4 decimals for all calculated "aty per unit and "cost per iput" amounts. Phoenix Company Standard Cost Card-Current Year (2019) Qty per Cost per Unit Input Direct materials 4.00 lbs. 16.25 Direct labor .8264 hrs. 12.10 Variable Overhead .8264hrs. 8.4705 Std. Cost per Unit (a) 65 10 7 a) Use the Budget expenses (Fixed connect top) Planning or flexible budget) and the number of units to calculate the Standard cost per unit. Include your calculated amounts in the last column for direct material direct labor, and variable overhead Note: For variable overhead, you will need to add all variable overhead costs together b) Phoenix Company sets its material standard at 4 pounds of raw material per unit of finished goods. Calculate the standard cost per pound (input) for direct material as the cost per unit divided by 4. This is the standard price per pound of raw material. Include it in the standard cost card above c) Phoenix Company estimated its standard labor rate at $12.10 per hour. Calculate the standard number of direct labor hours to complete one unit of finished goods. Note: Cost per unit @) divided by 12.10. Include the standard in the table above. d) Phoenix Company applies its overhead based on direct labor hours. Include the standard hours of variable overhead in the standard card above. e) Calculate the standard variable overhead rate and include it in the standard cost card Variable overhead cost per unit divided by standard overhead hours. This is your Check Point. Text/email your Cost Card for 1 to Teri for early review before continuing with the project requirements