variance report LO P1, P2, P3, P43 of 4[The following information applies to the questions displayed below)and overheadSkippedeBookferencesAntuan Company set the following standard costs per unit for its product.Direct materials (3.0 pounds @ $6.00Direct labor (1.7 hours $13.00Overhead (1.7 hours $18.50 per hourStandard cost per unit$ 18.00The standard overhead rate ($18.50 per direct labor hour) is based on a predicted activity level of 75% of the factory'scapacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the 75% capacitylevel.Overhead Budget (75% Capacity)Variable overhead costsIndirect materialsIndirect labor15.000PowerMaintenance000$0.000Total variable overhead costs135,000Fixed overhead costsDepreciation-Building24.000170180017.000225.75013361750$ 471,750Depreciation-MachineryTaxes and insuranceSupervisory salariesTotal fixed overhead costsTotal overhead costsThe company incurred the following actual costs when it operated at 75% of capacity in October.Direct materials (46, see pounds @ $6.Direct labor (21,080 hours @ $13110 ppoundOverhead costsIndirect materialsIndirect laborMaintenanceDepreciation-BuildingDepreciation MachineryTaxes and insuranceSupervisory salariesTotal costs$ 288,300275,10041 100176,95017,25034,50024,00094,50015.300225,758629, 350$1,192,750Problem 21-3A (Algo) Part 33. Compute the direct labor variance, including its rate and efficiency variances. (Indicate the effect of each varlance by selectingfavorable, unfavorable, or no varlance. Round "Rate per hour" answers to two decimal places.)Actual CostStandard Cost

Labor rate variance:It is a variance between the standard rate at which labor should be hire against…

Antuan Company set the following standard costs per unit for its product. Direct materials (3.0 pounds @ $6.0 Direct labor (3.7 hours Overhead (1-7 hours @ $18.50 per 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 $ 15,000

Antuan Company set the following standard costs per unit for its product. Direct materials (3.0 pounds @ $6.0 Direct labor (3.7 hours Overhead (1-7 hours @ $18.50 per 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 $ 15,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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