Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for July of the current year, during which it expected to use 10,000 hours for production:
D I D [:II) Musicand Podcasts, Free ar XJ {.4 CengageNOWvZ|Onlineteachll X L. CourseHero 6 G Factory Overhead Cost Variance Report x|+ https://y2.cengagenowcom/ilrn/ta keAssignment/takeAsslgnmentMaln.do?inprogr655:true Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for July of the current year, during which it expected to use 10,000 hours for production: Variable overhead cost: Indirect factory labor $25,000 Power and light 7,500 Indirect materials 16,000 Total variable overhead cost $ 48,500 Fixed overhead cost: Supervisory salaries $43,090 Depreciation of plant and equipment 11,340 Insurance and property taxes 21,170 Total xed overhead cost 75,600 Total factory overhead cost $124,100 Tannin has available 14,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 9,000 hours for production. The actual fixed costs were as budgeted. The actual variable overhead for July was as follows: Actual variable factory overhead cost: Indirect factory labor $21,940 Power and light 6,630 Indirect materials 15,100 ,0 Type here to search gill?- PM malarial F40 P ) Music and Podcasts, Free ar X CengageNOWv2 | Online teachin X Course Hero x + X C @https://v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?inprogress=true . . Actual variable factory overhead cost: Indirect factory labor $21,940 Power and light 6,630 ? Indirect materials 15,100 Total variable cost $43,670 Construct a factory overhead cost variance report for the Trim Department for July. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. If an amount box does not require an entry, leave it blank. Round your interim computations to the nearest cent, if required. Tannin Products Inc. Factory Overhead Cost Variance Report-Trim Department For the Month Ended July 31 Productive capacity for the month 14,000 hrs. Actual productive capacity used for the month 9,000 hrs. Actual Budget (at actual production) Unfavorable Variances Favorable Variances Variable factory overhead costs: Indirect factory labor Power and light Indirect materials Total variable factory overhead cost Fixed factory overhead costs: Supervisory salaries Depreciation of plant and equipment Previous Next Type here to search O 9:18 PM 32 86.F 8/8/2021 40P ) Music and Podcasts, Free ar X CengageNOWv2 | Online teachin X Course Hero x + X C @ https://v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?inprogress=true . . Productive capacity for the month 14,000 hrs. Actual productive capacity used for the month 9,000 hrs. Actual Budget (at actual production) Unfavorable Variances Favorable Variances Variable factory overhead costs: Indirect factory labor Power and light Indirect materials Total variable factory overhead cost Fixed factory overhead costs: Supervisory salaries Depreciation of plant and equipment Insurance and property taxes Total fixed factory overhead cost Total factory overhead cost Total controllable variances 1010 010 Idle hours at the standard rate for fixed factory overhead Previous Next 9:18 PM Type here to search O 32 86.F 8/8/2021 40
