Print Item Instructions Part 1: Budgeted Amounts for Each Cost Category Part 2: Performance Report Instructions Bowling Company provided the following information for last year. Master Budget Actual Data Budgeted production 4,300 4,100 units Direct materials: 1 pounds @ 0.2 per pound $6,800 Direct labor: $15.5 per hour 0.6 hr. VON: 30,500 0.6 hr. $2.10 FOH: 4,200 Materials handling, $6,000 Depreciation, $2,400 6,300 2,400 ctions Part 1: Budgeted Amounts for Each Cost Category 1. Calculate the budgeted amounts for each cost category listed above for the 4,300 budgeted units, then give the total below. Direct materials Direct labor Variable overhead Fixed overhead: Materials handling Depreciation Ivot Total Pa Nel 2. Prepare a performance report using a budget based on expected production. In the variance type column, select "F" for favorable and for unfavorable. If the variance is zero, enter ("0") in the variance amount column and "N" for neither in the variance type column. Bowling Company Performance Report Actual Budgeted Variance Variance Type (F, U, N) Units produced Dei Tot ok Direct materials Direct labor Variable overhead Pored overhead Materials handling Depre Depreciation Total Bowling Company budgeted the following amounts: Variable costs of production: Direct materials 2 pounds @ $0.60 per pound 0.5 hr @ $15.80 per hour Direct labor VOH 0.5 hr @ $2.20 per hour FOH: Materials handling $5,700 Depreciation $3,100 Required: Prepare a flexible budget for 2,300 units, 2,800 units and 3.300 units. Hefer to the Wore a Wrowy Prepare a flexible budget for 2,300 units 2,800 units and 3,300 units. (Note: Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries.) Amount Descriptions Depreciation Direct labor Bowling Company Flexible Budget 2,300 units Direct materials Material handling Total 2,800 units 3,300 units 1 Variable Total conversion cost Total cost of goods sold Total prime cost Variable overhead Check My Work Previous Next > Email Instructor Save and Ex Submit Assignment for Grading Variable Overhead Spending and Efficiency Variances, Columnar and Formula Approaches Gladys Company provided the following information: Standard variable overhead rate (SVOR) per direct labor hour $3.30 Actual variable overhead rate (AVOR) per direct labor hour $3.63 Actual direct labor hours worked (AH) 55,300 11,000 Actual production in units Standard hours (SH) allowed for actual units produced 55,000 Required: 1. Using the columnar approach, calculate the variable overhead spending and efficiency variances. Spending $ Unfavorable v Efficiency $ Unfavorable v 2. Using the formula approach, calculate the variable overhead spending variance. $ Unfavorable v 3. Using the formula approach, calculate the variable overhead efficiency variance. $ Unfavorable v 4. Calculate the total variable overhead variance. $ Unfavorable
