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[The following information applies to the questions displayed below.] Antuan Company set the following standard costs for one unit of its product. Direct materials (4.0

[The following information applies to the questions displayed below.]

Antuan Company set the following standard costs for one unit of its product.

Direct materials (4.0 Ibs. @ $6.00 per Ib.)$24.00Direct labor (1.7 hrs. @ $14.00 per hr.)23.80Overhead (1.7 hrs. @ $18.50 per hr.)31.45Total standard cost$79.25

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 costsIndirect materials$15,000Indirect labor75,000Power15,000

Repairs and maintenance30,000Total variable overhead costs$135,000Fixed overhead costsDepreciation?Building23,000Depreciation?Machinery71,000Taxes and insurance16,000Supervision226,750Total fixed overhead costs336,750Total overhead costs$471,750

The company incurred the following actual costs when it operated at 75% of capacity in October.

Direct materials (61,500 Ibs. @ $6.20 per lb.)$381,300Direct labor (20,000 hrs. @ $14.40 per hr.)288,000Overhead costsIndirect materials$41,950Indirect labor176,400Power17,250Repairs and maintenance34,500Depreciation?Building23,000Depreciation?Machinery95,850Taxes and insurance14,400Supervision226,750630,100Total costs$1,299,400

rev: 03_28_2018_QC_CS-122864

Required:

1&2.Prepare flexible overhead budgets for October showing the amounts of each variable and fixed cost at the 65%, 75%, and 85% capacity levels and classify all items listed in the fixed budget as variable or fixed.

please answer the following charts

image text in transcribed
GOLDEN CORPORATION Statement of Cash Flows For Year Ended December 31, 2017 Cash flows from operating activities Net income $ 160,000 Adjustments to reconcile net income to net cash provided by operations: Accounts receivable increase Inventory increase Accounts payable increase Income taxes payable increase Depreciation expense Net cash provided by operating activities $ 160.000 Cash flows from investing activities: Cash paid for equipment Net cash used in financing activities 0 Cash flows from financing activities: Cash received from stock issuance Cash paid for cash dividends Net cash used in financing activities Net increase (decrease) in cash $ 160,000 Cash balance at beginning of year Cash balance at end of year $ 160,000

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