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Trico Company set the following standard unit costs for its single product. Direct materials (30 Ibs. @ $5.10 per Ib.) Direct labor (6 hrs. @
Trico Company set the following standard unit costs for its single product. Direct materials (30 Ibs. @ $5.10 per Ib.) Direct labor (6 hrs. @ $15 per hr.) Factory overhead-Variable (6 hrs. @ $7 per hr.) Factory overhead-Fixed (6 hrs. @ $11 per hr.) Total standard cost $153.00 90.00 42.00 66.00 $351.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 56,000 units per quarter. The following flexible budget information is available. Operating Levels 70% 80% 90% 39,200 44,800 50,400 235, 200 268,800 302,400 Production in units Standard direct labor hours Budgeted overhead Fixed factory overhead Variable factory overhead $2,956,800 $2,956,800 $2,956,800 $1,646,400 $1,881,600 $2,116,800 During the current quarter, the company operated at 90% of capacity and produced 50,400 units of product; actual direct labor totaled 299,400 hours. Units produced were assigned the following standard costs. Direct materials (1,512,000 Ibs. @ $5.10 per Ib.) Direct labor (302,400 hrs. @ $15 per hr.) Factory overhead (302,400 hrs. @ $18 per hr.) Total standard cost $ 7,711,200 4,536,000 5,443,200 $17,690,400 Actual costs incurred during the current quarter follow. Direct materials (1,499,000 Ibs. @ $6.30 per lb.) Direct labor (299,400 hrs. @ $12.50 per hr.) Fixed factory overhead costs Variable factory overhead costs Total actual costs $ 9,443,700 3,742,500 2,604,700 2,438,500 $18, 229,400 (a) Compute the variable overhead spending and efficiency variances. (b) Compute the fixed overhead spending and volume variances. (c) Compute the total overhead controllable variance. Required A Required B Required C Compute the variable overhead spending and efficiency variances. (Round "cost per unit" and "rate per hour" answers to 2 decimal places.) Actual Variable OH Cost Flexible Budget Standard Cost Compute the fixed overhead spending and volume variances. (Round "cost per unit" and "rate per hour" answers to 2 decimal places.) Actual Fixed OH Cost Budgeted Overhead Standard Cost (FOH applied)
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