{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-26T10:15:40-04:00", "answer_date": "2024-05-26 10:15:40", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1735073", "url": "\/study-help\/questions\/problem-233a-algo-flexible-overhead-budget-materials-labor-and-overhead-1735073", "question_creation_date_js": "2024-05-26T10:15:40-04:00", "question_creation_date": "May 26, 2024 10:15 AM", "meta_title": "[Solved] Problem 23-3A (Algo) Flexible overhead bu | SolutionInn", "meta_description": "Answer of - Problem 23-3A (Algo) Flexible overhead budget; materials, labor, and overhead variances; and overhead variance report | SolutionInn", "meta_keywords": "problem,23-3a,algo,flexible,overhead,budget,materials,labor,variances,variance,report,lo", "question_title_h1": " Problem 23-3A (Algo) Flexible overhead budget; materials, labor, and overhead variances; and overhead variance report LO P1, P2, P3, P4 [The following information applies", "question_title": " Problem 23-3A (Algo) Flexible overhead budget; materials, labor, and overhead variances;", "question_title_for_js_snippet": "Problem 23 3A (Algo) Flexible overhead budget materials, labor, and overhead variances and overhead variance report LO P1, P2, P3, P4 The following information applies to the questions displayed below Antuan Company set the following standard costs per unit for its product Direct materials (3 0 pounds $5 00 per pound) Direct labor (1 7 hours $10 00 per hour) Overhead (1 7 hours $18 50 per hour) Standard cost per unit $ 15 00 17 00 31 45 $ 63 45 The standard overhead rate ($18 50 per direct labor hour) is based on a predicted activity level of 75 of the factory's capacity of 20,000 units per month Following are the company's budgeted overhead costs per month at the 75 capacity level Overhead Budget (75 Capacity) Variable overhead costs Indirect materials Indirect labor Power Maintenance Total variable overhead costs Fixed overhead costs Depreciation Building Depreciation Machinery Taxes and insurance Supervisory salaries Total fixed overhead costs Total overhead costs $ 15,000 75,000 15,000 30,000 135,000 24,000 70,000 16,000 226,750 336,750 $ 471,750 The company incurred the following actual costs when it operated at 75 of capacity in October Direct materials (46,500 pounds $5 20 per pound) Direct labor (21,000 hours $10 20 per hour) Overhead costs Indirect materials Indirect labor Power Maintenance Depreciation Building Depreciation Machinery Taxes and insurance Supervisory salaries Total costs $ 41,800 176,650 17,250 34,500 24,000 94,500 14,400 226,750 $ 241,800 214,200 629,850 $ 1,085,850", "question_description": "\"image\"image", "transcribed_text": "Problem 23-3A (Algo) Flexible overhead budget; materials, labor, and overhead variances; and overhead variance report LO P1, P2, P3, P4 [The following information applies to the questions displayed below.] Antuan Company set the following standard costs per unit for its product. Direct materials (3.0 pounds @ $5.00 per pound) Direct labor (1.7 hours @ $10.00 per hour) Overhead (1.7 hours @ $18.50 per hour) Standard cost per unit $ 15.00 17.00 31.45 $ 63.45 The standard overhead rate ($18.50 per direct labor hour) is based on a predicted activity level of 75% of the factory's capacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the 75% capacity level. Overhead Budget (75% Capacity) Variable overhead costs Indirect materials Indirect labor Power Maintenance Total variable overhead costs Fixed overhead costs Depreciation-Building Depreciation-Machinery Taxes and insurance Supervisory salaries Total fixed overhead costs Total overhead costs $ 15,000 75,000 15,000 30,000 135,000 24,000 70,000 16,000 226,750 336,750 $ 471,750 The company incurred the following actual costs when it operated at 75% of capacity in October. Direct materials (46,500 pounds @ $5.20 per pound) Direct labor (21,000 hours @ $10.20 per hour) Overhead costs Indirect materials Indirect labor Power Maintenance Depreciation-Building Depreciation-Machinery Taxes and insurance Supervisory salaries Total costs $ 41,800 176,650 17,250 34,500 24,000 94,500 14,400 226,750 $ 241,800 214,200 629,850 $ 1,085,850", "related_book": { "title": "Accounting Tools for Business Decision Making", "isbn": "9780470418239, 470239808, 9780470239803, 470418230, 978-1118128169", "edition": "5th edition", "authors": "Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/291.jpg", "uri": "\/textbooks\/accounting-tools-for-business-decision-making-5th-edition-291", "see_more_uri": "" }, "free_related_book": { "isbn": "1841767069", "uri": "\/textbooks\/modelling-the-sdkfz-251-halftrack-1st-edition-9781841767062-107105", "name": "Modelling The SdKfz 251 Halftrack", "edition": "1st Edition" }, "question_posted": "2024-05-26 10:15:40", "see_more_questions_link": "\/study-help\/questions\/business-banking-2021-September-12", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/consider-a-country-that-imports-steel-and-exports-automobiles-the", "description": "Consider a country that imports steel and exports automobiles. The value per unit of cars exported is measured in units of thousands of dollars per car by the random variable X. 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Assume the term structure of interest rates is flat.", "stars": 3 }, { "url": "\/study-help\/financial-markets\/2310-discuss-qualitatively-how-your-answer-to-exercise-238-would-1685312", "description": "23.10. Discuss qualitatively how your answer to exercise 23.8 would change if the bond in exercise 23.7 was a 10 percent 2-year par bond. (This means that the term structure of interest rates is not...", "stars": 3 }, { "url": "\/study-help\/financial-markets\/239-how-would-your-answer-to-exercise-238-change-if-1685311", "description": "23.9. 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