Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.) Sedona Company set the following standard costs for one unit of its product for this year. Direct material (20 pounds @ $4.10 per pound) $ 82.00 Direct labor (15 hours @ $6.00 per DLH) 90.00 Variable overhead (10 hours @ $3.60 per DLH) 36.00 Fixed overhead (10 hours @ $1.60 per DLH) 16.00 Standard cost per unit $ 224.00 The $5.20 ($3,60 + $1.60) total overhead rate per direct labor hour (DLH) is based on a predicted activity level of 46,200 units, which is 70% of the factory's capacity of 66,000 units per month. The following monthly flexible budget information is available. Operating Levels (% of capacity) Flexible Budget 654 70% 75% Budgeted production (units) 42,900 46,200 49,500 Budgeted direct labor (standard hours) 429,000 462,000 495,000 Budgeted overhead Variable overhead $ 1,544,400 $ 1,663,200 $ 1,782,000 Fixed overhead 739,200 739,200 739,200 Total overhead $ 2,283,600 $ 2,402,400 $ 2,521,200 During the current month, the company operated at 65% of capacity, direct labor of 410,000 hours were used, and the following actual overhead costs were incurred, Actual variable overhead $ 1,501,000 Actual fixed overhead 784,200 Actual total overhead $ 2,285,200 Exercise 23-27A (Algo) Computing total variable and fixed overhead variances LO P5 1. Compute the total variable overhead variance and identify it as favorable or unfavorable. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) 2. Compute the total fixed overhead variance and identify it as favorable or unfavorable. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Standard DL Hours At 65% of Operating capacity Overhead Coats Actual Results Variance Applied Fav./Unt. Variable overhead applied Fixed overhead applied Total overhead variance Predetermined OH Rate $ 3,60 1.60 $ 5.20 Use the following information for the Exercises below. (Algo) The following information applies to the questions displayed below.) Sedona Company set the following standard costs for one unit of its product for this year. Direct material (20 pounds @ $4.10 per pound) $ 82.00 Direct labor (15 hours @ $6.00 per bLH) 90.00 Variable overhead (10 hours @ $3.60 per DLH) 36.80 Fixed overhead (10 hours @ $1.60 per DLH) 16.00 Standard cost per unit $ 224.00 The $5.20 ($3,60 + $1.60) total overhead rate per direct labor hour (DLH) is based on a predicted activity level of 46,200 units, which is 70% of the factory's capacity of 66,000 units per month. The following monthly flexible budget information is available. Flexible Budget Budgeted production (units) Budgeted direct labor (standard hours) Budgeted overhead Variable overhead Fixed overhead Total overhead Operating levels of capacity) 659 709 759 42,900 46,200 49,500 429,000 462,800 495,000 $ 1,544,400 $ 1,663,200 $1,782,000 739,200 239,200 739,200 $ 2,283,600 $ 2,402,400 $ 2,521,200 During the current month, the company operated at 65% of capacity, direct labor of 410,000 hours were used, and the following actual overhead costs were incurred. Actual variable overhead Actual fixed overhead Actual total overhead $ 1,501,000 784,200 $ 2,285,200 Exercise 23-28A (Algo) Detailed overhead variances LO P5 AH - Actual Hours SH - Standard Hours AVR Actual Variable Rate SVR Standard Variable Rate 1. Compute the variable overhead spending and efficiency variances 2. Compute the fixed overhead spending and volume variances. 3. Compute the controllable variance. Complete this question by entering your answers in the tabs below. Exercise 23-28A (Algo) Detailed overhead variances LO P5 AH = Actual Hours SH = Standard Hours AVR - Actual Variable Rate SVR Standard Variable Rate 1. Compute the variable overhead spending and efficiency variances 2. Compute the fixed overhead spending and volume variances. 3. Compute the controllable variance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the variable overhead spending and efficiency variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no v "Rate per unit" to 2 decimal places.) Actual Variable OH Cost Flexible Budget Standard Cost (VOH applied) Required 2 > Variable overhead Fixed overhead Total overhead $ 1,544,400 $ 1,663,200 $ 1,782,000 739 200 739,200 739,200 $ 2,283,600 $ 2,402,480 $2,521,200 During the current month, the company operated at 65% of capacity, direct labor of 410,000 hours were used, and the following actual overhead costs were incurred, Actual variable overhead $ 1,501,000 Actual fixed overhead 784,200 Actual total overhead $ 2,285,200 Exercise 23-28A (Algo) Detailed overhead variances LO P5 AH - Actual Hours SH Standard Hours AVR-Actual Variable Rate SVR Standard Variable Rate 1. Compute the variable overhead spending and efficiency variances 2. Compute the fixed overhead spending and volume variances 3. Compute the controllable variance, Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the fixed overhead spending and volume variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round 2 decimal places.) Fixed OH (Fixed Budgeted) Standard Cost (FOH applied Actual Fixed OH cost wuuyu Variable overhead Fixed overhead Total overhead $ 1,544,400 $ 1,663,200 $ 1,782,000 739,200 739,200 739,200 $ 2,283,600 $ 2,402,400 $ 2,521,200 During the current month, the company operated at 65% of capacity, direct labor of 410,000 hours were used, and to following actual overhead costs were incurred. Actual variable overhead $ 1,501,000 Actual fixed overhead 784,200 Actual total overhead $ 2,285,200 Exercise 23-28A (Algo) Detailed overhead variances LO P5 AH = Actual Hours SH - Standard Hours AVR - Actual Variable Rate SVR Standard Variable Rate 1. Compute the variable overhead spending and efficiency variances. 2. Compute the fixed overhead spending and volume variances, 3. Compute the controllable variance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the controllable variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Controllablo Variance Controllable variance