Required information [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. @ $4.00 per Ib.) $ 16.00 Direct labor (1.9 hrs. @ $11.00 per
hr.) 20.90 Overhead (1.9 hrs. @ $18.50 per hr.) 35.15 Total
standard cost $ 72.05 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 costs
Indirect materials $ 15,000 Indirect labor 75,000 Power 15,000
Repairs and maintenance 30,000 Total variable overhead costs $
135,000 Fixed overhead costs Depreciation—Building 25,000
Depreciation—Machinery 71,000 Taxes and insurance 18,000
Supervision 278,250 Total fixed overhead costs 392,250 Total
overhead costs $ 527,250 The company incurred the following actual
costs when it operated at 75% of capacity in October. Direct
materials (61,000 Ibs. @ $4.20 per lb.) $ 256,200 Direct labor
(23,000 hrs. @ $11.40 per hr.) 262,200 Overhead costs Indirect
materials $ 41,100 Indirect labor 176,350 Power 17,250 Repairs and
maintenance 34,500 Depreciation—Building 25,000
Depreciation—Machinery 95,850 Taxes and insurance 16,200
Supervision 278,250 684,500 Total costs $ 1,202,900
3) Direct material
Actual Cost | Standard cost | |||||||||
AQ | AP | AQ*AP | AQ | SP | AQ*SP | SQ | SP | SQ*SP | ||
61000 | 4.20 | 256200 | 61000 | 4 | 244000 | 60000 | 4 | 240000 | ||
12200 | 4000 | |||||||||
Direct material price variance | 12200 | Unfavorable | ||||||||
Direct material quantity variance | 4000 | Unfavorable | ||||||||
Total material variance | 16200 | Unfavorable | ||||||||
4) Direct Labor
Actual Cost | Standard cost | |||||||||
AH | AR | AH*AR | AH | SR | AH*SR | SH | SR | SH*SR | ||
23000 | 11.40 | 262200 | 23000 | 11 | 253000 | 28500 | 11 | 313500 | ||
9200 | 60500 | |||||||||
Direct labor rate variance | 9200 | Unfavorable | ||||||||
Direct labor efficiency variance | 60500 | favorable | ||||||||
Total labor variance | 51300 | favorable | ||||||||
Required information [The following information applies to the questions displayed below.] Antuan Company set the following...
Required information [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.) Direct labor (1.9 hrs. @ $13.00 per hr.) Overhead (1.9 hrs. @ $18.50 per hr.) Total standard cost $24.00 24.70 35.15 $83.85 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....
Required information [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. @ $4.ee per Ib.) Direct labor (1.8 hrs. @ $12.00 per hr.) Overhead (1.8 hrs. @ $18.50 per hr.) Total standard cost $16.00 21.60 33.38 $79.90 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....
Required information [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.) Direct labor (1.9 hrs. @ $13.00 per hr.) Overhead (1.9 hrs. @ $18.50 per hr.) Total standard cost $24.00 24.70 35.15 $83.85 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....
Required information [The following information applies to the questions displayed below Antuan Company set the following standard costs for one unit of its product. Direct materials (5.0 Ibs. $6.00 per Ib.) $30.00 Direet labor (1.8 hre. $14.00 per hr.) Overhead (1.8 hrs. $18.50 per hr. Total standard co 25.20 33.30 $88.50 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...
Required information [The following information applies to the questions displayed below.] Antuan Company set the following standard costs for one unit of its product. Direct materials (3.0 Ibs. @ $5.00 per Ib.) Direct labor (1.9 hrs. @ $11.00 per hr.) Overhead (1.9 hrs. @ $18.50 per hr.) Total standard cost $15.00 20.90 35.15 $71.05 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....
Required information [The following information applies to the questions displayed below.] Antuan Company set the following standard costs for one unit of its product. Direct materials (3.0 Ibs. @ $6.00 per Ib.) $ 18.00 Direct labor (2.0 hrs. @ $10.00 per hr.) 20.00 Overhead (2.0 hrs. @ $18.50 per hr.) 37.00 Total standard cost $ 75.00 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...
[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.)
$
24.00
Direct labor (2.0 hrs. @ $13.00 per hr.)
26.00
Overhead (2.0 hrs. @ $18.50 per hr.)
37.00
Total standard cost
$
87.00
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....
Required information (The following information applies to the questions displayed below.) Antuan Company set the following standard costs for one unit of its product. Direct materials (3.0 Ibs. $6.00 per Ib.) Direct labor (1.9 hrs. $13.00 per hr.) Overhead (1.9 hrs. @ $18.50 per hr.) Total standard cost $18.00 24.70 35.15 $77.85 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...
Required information [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. @ $5.00 per Ib.) Direct labor (1.8 hrs. @ $11.00 per hr.) Overhead (1.8 hrs. @ $18.50 per hr.) Total standard cost $20.00 19.80 33.30 $ 73.10 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...
Questions
Required information (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.) Direct labor (1.9 hrs. @ $14.000 per hr.) Overhead (1.9 hrs. @ $18.50 per 251 hr.) Total standard cost $85.75 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...