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Please help me with the following question: Leno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the
Please help me with the following question:
Leno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the current year, during which it expected to require 14,000 hours of productive capacity in the department: Variable overhead cost: Indirect factory labor $107,800 Power and light 6,160 Indirect materials 32,200 Total variable overhead cost $146,160 Fixed overhead cost: Supervisory salaries $51,160 Depreciation of plant and equipment 32,160 Insurance and property taxes 20,460 Total fixed overhead cost 103,780 Total factory overhead cost $249,940 Assuming that the estimated costs for November are the same as for October, prepare a flexible factory overhead cost budget for the Press Department for November for 12,000, 14,000, and 16,000 hours of production. Round your interim computations to the nearest cent, if required. Enter all amounts as positive numbers. Assuming that the estimated costs for November are the same as for October, prepare a flexible factory overhead cost budget for the Press Department for November for 12,000, 14,000, and 16,000 hours of production. Round your interim computations to the nearest cent, if required. Enter all amounts as positive numbers. Leno Manufacturing Company Factory Overhead Cost Budget-Press Department For the Month Ended November 30 Direct labor hours 12,000 14,000 16,000 Variable overhead cost: Indirect factory labor $ $ $ Power and light Indirect materials Total variable factory overhead $ $ Fixed factory overhead cost: Supervisory salaries $ $ Depreciation of plant and equipment Insurance and property taxes Total fixed factory overhead 00 Total factory overhead cost Leno Manufacturing Company Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 5,600 units of product were as follows: Standard Costs Actual Costs Direct materials 7,300 lb. at $4.90 7,200 lb. at $4.70 Direct labor 1,400 hrs. at $17.00 1,430 hrs. at $17.20 Factory overhead Rates per direct labor hr., based on 100% of normal capacity of 1,460 direct labor hrs.: Variable cost, $3.80 $5,270 variable cost Fixed cost, $6.00 $8,760 fixed cost Each unit requires 0.25 hour of direct labor. Required: a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct materials price variance Direct materials quantity variance Total direct materials cost variance b. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct labor rate variance Direct labor time variance Total direct labor cost variance c. Determine variable factory overhead controllable variance, the fixed factory overhead volume variance, and total factory overhead cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Variable factory overhead controllable variance Fixed factory overhead volume variance dil Total factory overhead cost varianceStep by Step Solution
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