See images below. blue boxes are where data is input, I already made guesses so there is information in there already
Calgary Paper Company produces paper for photocopiers. The company has developed standard overhead rates based on a monthly capacity of180,000 direct-labor hours as follows: Standard costs per unit (one box of paper): Variable overhead {2 directlabor hours B $3 per hour) 5 6 Fixed overhead (2 direct-labor hours E $5 per hour) 10 Total $16 During April, 90,000 units were scheduled for production; however, only 80,000 units were actually produced. The following data relate to April. 1. Actual direct-labor cost incurred was $1,567,500 for 165,000 actual hours of work. 2. Actual overhead incurred totaled $1,371,500, of which $511,500 was variable and $860,000 was fixed. Required: Prepare two exhibits similar to Exhibit 11-6 and Exhibit 11-8 in the chapter, which show the following variances. State whether each variance is favorable or unfavorable, where appropriate. 1. Variable-overhead spending variance. 2. Variable-overhead efciency variance. 3. Fixed-overhead budget variance. 4. Fixed-overhead volume variance. Variable-Overhead Spending And Efficiency Variances (Hours = Direct-Labor Hours) (1) (2) (3) (4) Actual Variable Overhead Projected Variable Overhead Flexible Budget: Variable Overhead Variable Overhead Applied To Work-In- Process Actual Actual Rate Standard Standard Standard X Standard Allowed Standard Allowed X Qty (AQ) X (AVR) Actual Qty (AQ) Rate (SVR) X Qty (SQ) Rate (SVR) Qty (SQ) Rate (SVR) 80,000 X $ 3.19 165,000 X $ 3.00 90,000 X $ 10.00 80,000 X $ 10.75 hours per hour hours per hour hours per hour hours per hour $ 255,200 $ 495,000 $ 900,000 $ 860,000 $ 16,500 Unfavorable $ 15,000 Unfavorable 40,000 None Variable-overhead spending variance Variable-overhead efficiency variance No differenceFixed-Overhead Budget And Volume Variances (Hours = Direct-Labor Hours) (1) (2) (3) Actual Fixed Budgeted Fixed Overhead Overhead Fixed Overhead Applied To Work In Process Standard X Standard Fixed- Allowed Hours Overhead Rate 80,000 X $ 10.00 hours per hour $ 860,000 $ 900,000 $ 800,000 $ 40,000 Favorable 100,000 Unfavorable Fixed-overhead budget variance Fixed-overhead volume variance