Question: Minihan Company had the data below for its most recent year, ending December 31: Required: Prepare a performance report that shows the variances on an

Minihan Company had the data below for its most recent year, ending December 31:

Required:
Prepare a performance report that shows the variances on an item-by-itembasis.

Actual costs: Indirect labor Supplies Actual hours worked Variable overhead standards: $29,800 Indirect labor Supplies overhead rate 0.25 hr. @ $15.00 0.25 hr. $1.00 $2,200 2,080 hours Standard variable $16.00 per direct labor hour Units produced Hours allowed for 8,000 units 2,000 houns production

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