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Required information [The following information applies to the questions displayed below.] Antuan Company set the following standard costs per unit for its product. Direct materials (4.0 pounds @ $5.00 per pound) Direct labor (2.0 hours@ $11.00 per hour) Overhead (2.0 hours @ $18.50 per hour) Standard cost per unit The standard overhead rate ($18.50 per direct labor hour) is based on a predicted activity level 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 costs Indirect materials Indirect labor Power Maintenance Total variable overhead costs Fixed overhead costs Depreciation-Building Depreciation-Machinery Taxes and insurance Supervisory salaries Total fixed overhead costs Total overhead costs Indirect materials Indirect labor Power Maintenance Depreciation-Building Depreciation-Machinery The company incurred the following actual costs when it operated at 75% of capacity in October. Direct materials (61,500 pounds @ $5.10 per pound) $ 313,650 246,400 Direct labor (22,000 hours @ $11.20 per hour) Overhead costs Taxes and insurance Supervisory salaries Total costs $ 15,000 75,000 15,000 30,000 135,000 $ 20.00 22.00 37.00 $ 79.00 24,000 71,000 16,000 309,000 420,000 $ 555,000 $ 41,100 176,400 17,250 34,500 24,000 95,850 14,400 309,000 712,500 $ 1,272,550

Required information [The following information applies to the questions displayed below.] Antuan Company set the following standard costs per unit for its product. Direct materials (4.0 pounds @ $5.00 per pound) Direct labor (2.0 hours@ $11.00 per hour) Overhead (2.0 hours @ $18.50 per hour) Standard cost per unit The standard overhead rate ($18.50 per direct labor hour) is based on a predicted activity level 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 costs Indirect materials Indirect labor Power Maintenance Total variable overhead costs Fixed overhead costs Depreciation-Building Depreciation-Machinery Taxes and insurance Supervisory salaries Total fixed overhead costs Total overhead costs Indirect materials Indirect labor Power Maintenance Depreciation-Building Depreciation-Machinery The company incurred the following actual costs when it operated at 75% of capacity in October. Direct materials (61,500 pounds @ $5.10 per pound) $ 313,650 246,400 Direct labor (22,000 hours @ $11.20 per hour) Overhead costs Taxes and insurance Supervisory salaries Total costs $ 15,000 75,000 15,000 30,000 135,000 $ 20.00 22.00 37.00 $ 79.00 24,000 71,000 16,000 309,000 420,000 $ 555,000 $ 41,100 176,400 17,250 34,500 24,000 95,850 14,400 309,000 712,500 $ 1,272,550

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 21E: Ellerson Company provided the following information for the last calendar year: During the year,...
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4. Prepare a detailed overhead variance report that shows the variances for individual items of overhead. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Expected production volume Production level achieved Volume Variance Variable overhead costs Fixed overhead costs Total overhead costs Volume Variance Volume variance Total overhead variance ANTUAN COMPANY Overhead Variance Report For Month Ended October 31 Flexible Budget Actual Results Variances Favorable or Unfavorable $ 69 0
Transcribed Image Text:4. Prepare a detailed overhead variance report that shows the variances for individual items of overhead. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Expected production volume Production level achieved Volume Variance Variable overhead costs Fixed overhead costs Total overhead costs Volume Variance Volume variance Total overhead variance ANTUAN COMPANY Overhead Variance Report For Month Ended October 31 Flexible Budget Actual Results Variances Favorable or Unfavorable $ 69 0
Required information [The following information applies to the questions displayed below.] Antuan Company set the following standard costs per unit for its product. Direct materials (4.0 pounds @ $5.00 per pound) Direct labor (2.0 hours @ $11.00 per hour) Overhead (2.0 hours @ $18.50 per hour) $ 20.00 22.00 37.00 Standard cost per unit $ 79.00 The standard overhead rate ($18.50 per direct labor hour) is based on a predicted activity level 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 costs Indirect materials Indirect labor Power Maintenance Total variable overhead costs Fixed overhead costs Depreciation-Building Depreciation-Machinery Taxes and insurance Supervisory salaries Total fixed overhead costs Total overhead costs Indirect materials Indirect labor Power Maintenance $ 15,000 75,000 15,000 30,000 135,000 The company incurred the following actual costs when it operated at 75% of capacity in October. Direct materials (61,500 pounds @ $5.10 per pound) Direct labor (22,000 hours @ $11.20 per hour) $ 313,650 246,400 Overhead costs Depreciation-Building Depreciation-Machinery Taxes and insurance Supervisory salaries. Total costs 24,000 71,000 16,000 309,000 420,000 $ 555,000 $41,100 176,400 17,250 34,500 24,000 95,850 14,400 309,000 712,500 $ 1,272,550
Transcribed Image Text:Required information [The following information applies to the questions displayed below.] Antuan Company set the following standard costs per unit for its product. Direct materials (4.0 pounds @ $5.00 per pound) Direct labor (2.0 hours @ $11.00 per hour) Overhead (2.0 hours @ $18.50 per hour) $ 20.00 22.00 37.00 Standard cost per unit $ 79.00 The standard overhead rate ($18.50 per direct labor hour) is based on a predicted activity level 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 costs Indirect materials Indirect labor Power Maintenance Total variable overhead costs Fixed overhead costs Depreciation-Building Depreciation-Machinery Taxes and insurance Supervisory salaries Total fixed overhead costs Total overhead costs Indirect materials Indirect labor Power Maintenance $ 15,000 75,000 15,000 30,000 135,000 The company incurred the following actual costs when it operated at 75% of capacity in October. Direct materials (61,500 pounds @ $5.10 per pound) Direct labor (22,000 hours @ $11.20 per hour) $ 313,650 246,400 Overhead costs Depreciation-Building Depreciation-Machinery Taxes and insurance Supervisory salaries. Total costs 24,000 71,000 16,000 309,000 420,000 $ 555,000 $41,100 176,400 17,250 34,500 24,000 95,850 14,400 309,000 712,500 $ 1,272,550
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