Question

Reagan Products Ltd., an Australian company, has the following cost formulas (expressed in Australian dollars) for variable overhead costs in one of its machine shops:
The flexible budget amounts for fixed overhead costs in July are as follows:
During July, the machine shop was scheduled to work 5,600 machine-hours and to produce 28,000 units of product. The standard machine time per unit of product is 0.2 hours. A severe storm during the month forced the company to close for several days, which reduced the level of output for the month. Actual results for July were as follows:
Actual machine-hours worked . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,700
Actual number of units produced . . . . . . . . . . . . . . . . . . . . . . . . . 24,500
Actual costs for July were as follows:
Required:
Prepare an overhead performance report including both variable and fixed overhead for the machine shop for July. Use column headings in your report as shown below:


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  • CreatedJuly 08, 2015
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