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Please help with the blank and red x's. Tiger Equipment Inci, a manufacturer of construction equipment, prepared the following factory overhead cost budget for the
Please help with the blank and red x's.
Tiger Equipment Inci, a manufacturer of construction equipment, prepared the following factory overhead cost budget for the Weiding Department for May of the current year. The company expected to operate the department at 100% of normal capacity of 8,000 hours. During May, the department operated at 8,500 standard hours. The factory overhead costs incurred were indirect factory wages, $29,190; power and light, $17,530; indirect materials, $14,700; supervisory salaries, $16,010; depreclation of plant and equipment, $41,060; and insurance and property taxes, $12,530, Required: Prepare a factory overhead cost variance report for May. To be useful for cost control, the budgeted amounts shouid be based on 8,500 hours. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Round your per unit computations to the nearest cent, if required. If an amount box does not require an entry, leave it blank. Actual production for the month 8,500 hrs. Unfavorable Actual Budget Variable costs: Indirect factory wages Power and light Indirect materials Total variable cost Step by Step Solution
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