Question: Please answer these three questions using this information for all three. Required information (The following information applies to the questions displayed below.) Antuan Company set
Please answer these three questions using this information for all three.




Required information (The following information applies to the questions displayed below.) Antuan Company set the following standard costs per unit for its product. Direct materials (5.0 pounds @ $4.00 per pound) $ 20.00 Direct labor (1.8 hours @ $13.00 per hour) 23.40 Overhead (1.8 hours @ $18.50 per hour) 33.30 Standard cost per unit $ 76.70 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. $ 15,000 75,000 15,000 30,000 135,000 Overhead Budget (75% Capacity) Variable overhead costs Indirect materials Indirect labor Power Maintenance Total variable overhead costs Fixed overhead costs Depreciation-Building Depreciation-Machinery Taxes and insurance Supervisory salaries Total fixed overhead costs Total overhead costs 24,000 72,000 17,000 251,500 364,500 $ 499,500 The company incurred the following actual costs when it operated at 75% of capacity in October $ 319,200 250, 800 Direct materials (76,000 pounds @ $4.20 per pound) Direct labor (19,000 hours @ $13.20 per hour) Overhead costs Indirect materials Indirect labor Power Maintenance Depreciation-Building Depreciation-Machinery Taxes and insurance Supervisory salaries Total costs $ 41,650 176,150 17,250 34,500 24,000 97,200 15,300 251,500 657,550 $ 1,227,550 2. Compute the direct materials variance, including its price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Actual Cost Standard Cost Actual quantity Actual price Standard price 0 $ 0 S 01 Unfavorable Favorable 0 3. Compute the direct labor variance, including its rate and efficiency variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to two decimal places.) Actual Cost Standard Cost Actual hours Standard hours X Favorable 4. Prepare a detailed overhead variance report that shows the variances for individual items of overhead. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Expected production volume Production level achieved Volume Variance ANTUAN COMPANY Overhead Variance Report For Month Ended October 31 65% of capacity 70% of capacity Favorable Flexible Budget Actual Results Variances Favorable/Unfavorable Variable overhead costs Depreciation Machinery Direct labor Depreciation Building Direct materials Maintenance Gross profit Fixed overhead costs DepreciationBuilding Direct labor DepreciationMachinery Indirect labor Maintenance Income from operations Total overhead costs Volume Variance Budgeted (flexible) overhead Standard overhead applied Volume variance Total overhead variance $ 01
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