! Required information (The following information applies to the questions displayed below.) Antuan Company set the following standard costs for one unit of its product. Direct materials (5.0 Ibs. @ $4.00 per Ib.) Direct labor (1.6 hrs. @ $14.00 per hr.) Overhead (1.6 hrs. @ $18.50 per hr.) Total standard cost $20.00 22.40 29.60 $72.00 The predetermined overhead rate ($18.50 per direct labor hour) is based on an expected volume 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 $ 15,000 Indirect labor 75,000 Power 15,000 Repairs and maintenance 45,000 Total variable overhead costs Fixed overhead costs Depreciation-Building 23,000 Depreciation-Machinery 71,000 Taxes and insurance 16,000 Supervision 184,000 Total fixed overhead costs Total overhead costs $150,000 294,000 $444,000 The company incurred the following actual costs when it operated at 75% of capacity in October. $ 319,200 312,400 Direct materials (76,000 lbs. @ $4.20 per lb.) Direct labor (22,000 hrs. @ $14.20 per hr.) Overhead costs Indirect materials Indirect labor Power Repairs and maintenance Depreciation-Building Depreciation-Machinery Taxes and insurance Supervision Total costs $ 41,550 176,750 17,250 51,750 23,000 95,850 14,400 184,000 604,550 $1,236,150 Required: 1. Compute the direct materials cost variance, including its price and quantity variances. 2. Compute the direct labor cost variance, including its rate and efficiency variances. 3. Compute the overhead controllable and volume variances. Complete this question by entering your answers in the tabs below. Reg 3 Req 1 Reg 2 Controllable Red 4 Volume Variance Variance Compute the volume variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Fixed overhead volume variance Budgeted fixed overhead Fixed overhead cost applied Fixed overhead volume variance (a) Compute the variable overhead spending and efficiency variances. (b) Compute the fixed overhead spending and volume variances. (c) Compute the total overhead controllable variance. Required A Required B Required C Compute the variable overhead spending and efficiency variances. (Round "cost per unit" and "rate per hour" answers to 2 decimal places.) Actual Variable OH Cost Flexible Budget Standard Cost (VOH applied) (a) Compute the variable overhead spending and efficiency variances. (b) Compute the fixed overhead spending and volume variances. (c) Compute the total overhead controllable variance. Required A Required B Required C Compute the fixed overhead spending and volume variances. (Round "cost per unit" and "rate per hour" answers to 2 decimal places.) Actual Fixed OH Cost Budgeted Overhead Standard Cost (FOH applied) 5. Prepare a detailed overhead variance report that shows the variances for individual items of overhead. (Indicate the effect of each variance by selecting for favorable, unfavorable, and No variance.) ANTUAN COMPANY Overhead Variance Report For Month Ended October 31 Expected production volume Production level achieved Volume variance Flexible Budget Actual Results Variances Fav. / Unfav. Variable costs Fixed costs Total overhead costs Required: 1. Compute the direct materials cost variance, including its price and quantity variances. 2. Compute the direct labor cost variance, including its rate and efficiency variances. 3. Compute the overhead controllable and volume variances. Complete this question by entering your answers in the tabs below. Req 3 Req 4 Volume Reg 1 Reg 2 Controllable Variance Variance Compute the direct materials cost variance, including its price and quantity variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Cost per unit" answers to 2 decimal places.) Actual Cost Standard Cost $ 0 $ 0 $ Required: 1. Compute the direct materials cost variance, including its price and quantity variances. 2. Compute the direct labor cost variance, including its rate and efficiency variances. 3. Compute the overhead controllable and volume variances. Complete this question by entering your answers in the tabs below. Req3 Reg 1 Reg 2 Req 4 Volume Controllable Variance Variance Compute the direct labor cost variance, including its rate and efficiency variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Rate per hour" answers to 2 decimal places.) Actual Cost Standard Cost $ 0 $ 0 $ 0 0 Required: 1. Compute the direct materials cost variance, including its price and quantity variances. 2. Compute the direct labor cost variance, including its rate and efficiency variances. 3. Compute the overhead controllable and volume variances. Complete this question by entering your answers in the tabs below. Req3 Req 1 Req 4 Volume Reg 2 Controllable Variance Variance Compute the controllable variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Controllable Variance Actual overhead Budgeted overhead Controllable variance
