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 (3.0 Ibs. $5.00 per Ib.) Direct labor (2.0 hrs. * $11.00 per hr.) Overhead (2.0 hrs. & $18.50 per hr.) Total standard cost $15.00 22.00 37.00 $74.00 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 (759 Capacity) Variable overhead costs Indirect materials $ 15,000 Indirect labor 75,000 Power 15,000 Repairs and maintenance 30,000 Total variable overhead costs Pixed overhead costs Depreciation-Building 24,000 Depreciation-Machinery 70,000 Taxes and insurance 17,000 Supervision 309,000 Total fixed overhead costs Total overhead costs $135,000 420,000 $555,000 The company incurred the following actual costs when it operated at 75% of capacity in October $ 236,600 246,400 Direct materials (45,500 lbs. 85.20 por lb.) Direct labor (22,000 hrs. O $11.20 per hr.) Overhead conta Indirect materials Indirect labor Power Repairs and maintenance Depreciation-Building Depreciation Machinery Taxes and insurance Supervision Total costs $ 41,900 176,850 17,250 34,500 24,000 94,500 15,300 309,000 713, 300 $1,196,300 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 (3.0 Ibs. $5.00 per Ib.) Direct labor (2.0 hrs. * $11.00 per hr.) Overhead (2.0 hrs. & $18.50 per hr.) Total standard cost $15.00 22.00 37.00 $74.00 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 (759 Capacity) Variable overhead costs Indirect materials $ 15,000 Indirect labor 75,000 Power 15,000 Repairs and maintenance 30,000 Total variable overhead costs Pixed overhead costs Depreciation-Building 24,000 Depreciation-Machinery 70,000 Taxes and insurance 17,000 Supervision 309,000 Total fixed overhead costs Total overhead costs $135,000 420,000 $555,000 The company incurred the following actual costs when it operated at 75% of capacity in October $ 236,600 246,400 Direct materials (45,500 lbs. 85.20 por lb.) Direct labor (22,000 hrs. O $11.20 per hr.) Overhead conta Indirect materials Indirect labor Power Repairs and maintenance Depreciation-Building Depreciation Machinery Taxes and insurance Supervision Total costs $ 41,900 176,850 17,250 34,500 24,000 94,500 15,300 309,000 713, 300 $1,196,300
