Portal( X @ Plan & X Dashb x o Mail - x 3 Cal Sta X 4 My Ho X Cenga X Log In x [ Genera X * Course X *Course X + X -CD v2.cengagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Chapter 23 1 eBook 1. EX.23.04.ALGO Factory Overhead Cost Variance Report ? Tiger Equipment Inc., a manufacturer of construction equipment, prepared the following factory overhead cost budget for the Welding Department for 2. EX.23.08.ALGO May of the current year. The company expected to operate the department at 100% of normal capacity of 8,400 hours. 3. EX.23.13 Variable costs: Indirect factory wages $30,240 4. EX.23.16.ALGO Power and light 20,160 5. PR.23.02A.ALGO Indirect materials 16,800 Total variable cost $67,200 6. PR.23.04A Fixed costs: 7. PR.23.01B Supervisory salaries $20,000 Depreciation of plant and equipment 36,200 8. EX.23.02.ALGO Insurance and property taxes 15,200 9. EX.23.01.ALGO Total fixed cost 71,400 Total factory overhead cost $138,600 10. EX.23.03 During May, the department operated at 8,860 hours, and the factory overhead costs incurred were indirect factory wages, $32,400; power and light, $21,000; indirect materials, $18,250; supervisory salaries, $20,000; depreciation of plant and equipment, $36,200; and insurance and property taxes, $15,200. Required: Prepare a factory overhead cost variance report for May. To be useful for cost control, the budgeted amounts should be based on 8,860 hours. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. If an amount box does not require an Progress: 6/10 items Check My Work 3 more Check My Work uses remaining. Previous Next > Type here to search m 5:33 PM O 87'F Sunny ~ 91 @ 10/11/2022Portal( X @ Plan & X Dashb x o Mail - x Cal Sta X 4 My Ho X Cenga X Log In x Gener: X * Course X *Course X + V X -CD v2.cengagenow.com/ilmn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false To Chapter 23 1 eBook Factory Overhead Cost Variance Report-Welding Department 1. EX.23.04.ALGO For the Month Ended May 31 ? Normal capacity for the month 8,400 hrs. 2. EX.23.08.ALGO Actual production for the month 8,860 hrs. 3. EX.23.13 Budget Actual (at Actual Unfavorable Favorable Cost Production) Variances Variances 4. EX.23.16.ALGO Variable factory overhead costs: 5. PR.23.02A.ALGO Indirect factory wages 31,896 X 32,400 X X 504 X Power and light 21,264 X 21,000 X 264 X X 6. PR.23.04A Indirect materials 17,720 X 18,250 X X 530 X 7. PR.23.01B Total variable cost 70,880 X 71,650 X 8. EX.23.02.ALGO Fixed factory overhead costs: Supervisory salaries 20,000 20,000 9. EX.23.01.ALGO Depreciation of plant and equipment 36,200 V 36,200 10. EX.23.03 Insurance and property taxes 15,200 V 15,200 V Total fixed cost 71,400 71,400 Total factory overhead cost 142,280 X 143,050 X Total controllable variances 264 X $ 1,034 X Net controllable variance-unfavorable V Progress: 6/10 items Check My Work 3 more Check My Work uses remaining. Previous Next > Type here to search 5:33 PM O 87'F Sunny ~ 91 10/11/2022