Question: if you can do the full question that would be greatly appreciated Chip Company has the following production standard for overhead costs: Variable Costs Fixed

if you can do the full question that would be greatly appreciated  if you can do the full question that would be greatly
appreciated Chip Company has the following production standard for overhead costs: Variable
Costs Fixed Costs per per Direct Labor Period: Hour $4.70 Supervision $88,000

Chip Company has the following production standard for overhead costs: Variable Costs Fixed Costs per per Direct Labor Period: Hour $4.70 Supervision $88,000 Indirect Materials Indirect Labor 11.60 Depreciation 9,400 Other Property 7.20 Taxes 2,700 Total Total Fixed Variable $23.50 Costs Costs $100,100 Required: 1. Prepare a flexible budget for activities ranging from 4,000 labor hours to 7,000 direct labor hours in increments of 1,000 hours in the attached Workpaper #1. 2. Using the following information, prepare a budget variance report for Chip Company in the attached Workpaper #1. Chip Company's actual activity was 5.000 direct labor hours and the actual costs were as follows 2. Using the following information, prepare a budget variance report for Chip Company in the attached Workpaper #1. Chip Company's actual activity was 5,000 direct labor hours and the actual costs were as follows: Total Variable Costs: Fixed Costs: Indirect $23,200 Supervision $89,400 Materials Indirect Labor 58,900 Depreciation 9,500 Other Property 37,200 Taxes 2,350 A. CHIP COMPANY FLEXIBLE BUDGET REPORT Quantity of Direct Labor Hours Variable Costs: Indirect Materials Indirect Labor Other Total Variable Costs Fixed Costs: Supervision Depreciation Property Taxes Total Fixed Costs Total Overhead Costs B CHIP COMPANY BUDGET VARIANCE REPORT Actual Budget Variance U or F Variable Costs Indirect Materials Indirect Labor Other Total Variable Cost Fixed Costs: Supervision Depreciation Property Taxes Total Fixed Costs Total Overhead Costs

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