Antuan Company set the following standard costs per unit for its product. Direct materials (6 pounds @ $5 per pound) $ 30 Direct labor (2 hours @ $17 per hour) 34 Overhead (2 hours @ $18.50 per hour) 37 Standard cost per unit $ 101 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. Overhead Budget (75% Capacity) Variable overhead costs Indirect materials. $ 45,000 Indirect labor 180,000 Power 45,000 Maintenance 90,000 360,000 Total variable overhead costs. Fixed overhead costs 24,000 Depreciation-Building Depreciation-Machinery 80,000 Taxes and insurance 12,000 Supervisory salaries. 79,000 Total fixed overhead costs 195,000 Total overhead costs $ 555,000 The company incurred the following actual costs when it operated at 75% of capacity in October. Direct materials (91,000 pounds @ $5.10 per pound) $ 464,100 526, 125 Direct labor (30,500 hours @ $17.25 per hour) Overhead costs Indirect materials $ 44,250 Indirect labor 177,750 Power 43,000 Maintenance 96,000 24,000 Depreciation-Building Depreciation-Machinery 75,000 Taxes and insurance 11,500 Supervisory salaries. 89,000 560,500 Total costs $ 1,550,725

Camila Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (14 pounds @ $5 per pound) Direct labor (3 hours @ $15 per hour) During June the company incurred the following actual costs to produce 8,300 units. Direct materials (119,100 pounds @ $4.70 per pound) Direct labor (28,600 hours @ $15.20 per hour) AR = Actual Rate SR = Standard Rate AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price $70 45 $ 559,770 434,720

Antuan Company set the following standard costs per unit for its product. Direct materials (6 pounds @ $5 per pound) $ 30 Direct labor (2 hours @ $17 per hour) 34 Overhead (2 hours @ $18.50 per hour). 37 Standard cost per unit $ 101 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. Overhead Budget (75% Capacity) Variable overhead costs Indirect materials. $ 45,000 Indirect labor 180,000 Power 45,000 Maintenance 90,000 360,000 Total variable overhead costs Fixed overhead costs 24,000 Depreciation-Building Depreciation-Machinery 80,000 Taxes and insurance 12,000 Supervisory salaries. 79,000 Total fixed overhead costs 195,000 Total overhead costs $ 555,000 The company incurred the following actual costs when it operated at 75% of capacity in October. Direct materials (91,000 pounds @ $5.10 per…

Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Average Cost Per Unit Direct materials $ 6.00 Direct labor $ 3.50 Variable manufacturing overhead $ 1.50 Fixed manufacturing overhead $ 4.00 Fixed selling expense $ 3.00 Fixed administrative expense $ 2.00 Sales commissions $ 1.00 Variable administrative expense $ 0.50 Foundational 1-6 (Static) 6. If 12,500 units are produced and sold, what is the total amount of variable costs related to the units produced and sold?

Rhodes Corporation manufactures a product with the following standard costs: Direct materials (20 yards @ $1.85 per yard) $ 37.00 Direct labor (4 hours @ $12.00 per hour) 48.00 Variable factory overhead (4 hours @ $5.40 per hour)   21.60 Fixed factory overhead (4 hours @ $3.60 per hour) 14.40 Total standard cost per unit of output $121.00   Standards are based on normal monthly production involving 2,000 direct labor hours (500 units of output).The following information pertains to the month of July: Direct materials purchased (16,000 yards @ $1.80 per yard) $28,800 Direct materials used (9,400 yards)   Direct labor (1,880 hours @ $12.20 per hour) 22,936 Actual factory overhead 16,850 Actual production in July:  460 units         Using the information above, compute the following variances for the month of July, indicating whether each variance is favorable or unfavorable: Materials purchase price variance…

Kubin Company’s relevant range of production is 20,000 to 23,000 units. When it produces and sells 21,500 units, its average costs per unit are as follows:      Average Cost per Unit Direct materials $ 8.00 Direct labor $ 5.00 Variable manufacturing overhead $ 2.50 Fixed manufacturing overhead $ 6.00 Fixed selling expense $ 4.50 Fixed administrative expense $ 3.50 Sales commissions $ 2.00 Variable administrative expense $ 1.50   Exercise 1-7 (Algo) Direct and Indirect Costs [LO1-1] Required: 1. Assume the cost object is units of production: a. What is the total direct manufacturing cost incurred to make 21,500 units? b. What is the total indirect manufacturing cost incurred to make 21,500 units?   2. Assume the cost object is the Manufacturing Department and that its total output is 21,500 units. a. How much total manufacturing cost is directly traceable to the Manufacturing Department? b. How much total manufacturing cost is an indirect cost that cannot be…

The standard factory overhead rate is $10 per direct labor hour ($8 for variable factory overhead and $2 for fixed factory overhead) based on 100% of normal capacity of 30,000 direct labor hours. The standard cost and the actual cost of factory overhead for the production of 5,000 units during May were as follows: Standard hours at 100% of normal capacity 30,000 Standard hours for actual production 25,000 Standard total FOH cost (25,000 hours $10 per hour) $250,000 Actual Variable FOH costs $202,500 Actual Fixed FOH costs $60,000   Required: Calculate Variable FOH Controllable variance. Calculate Fixed FOH Volume variance. Calculate the total FOH variance.

Trico Company set the following standard unit costs for its single product. Direct materials (30 lbs. @ $4 per lb.) $120 Direct labor (5 hrs. @ $14 per hr.) 70 Factory overhead—variable (5 hrs. @ $8 per hr.)   40 Factory overhead—fixed (5 hrs. @ $10 per hr.)   60 Total standard cost $280 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 60,000 units per quarter. The following flexible budget information is available.   Operating Level Operating Level Operating Level   70% 80% 90% Production in units 42,000 48,000 54,000 Standard direct labor hours   210,000   240,000   270,000 Budgeted overhead:       Fixed factory OH $2,400,000 $2,400,000 $2,400,000 Variable factory OH $1,68,000 $1,920,000 $2.160,000 During the current quarter, the company operated at 90% of capacity and produced 54,000 units of product; actual direct…

Martinez Company’s relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows:     Average Cost per Unit Direct materials $ 5.50 Direct labor $ 3.00 Variable manufacturing overhead $ 1.50 Fixed manufacturing overhead $ 4.00 Fixed selling expense $ 2.50 Fixed administrative expense $ 2.00 Sales commissions $ 1.00 Variable administrative expense $ 0.50   2. For financial accounting purposes, what is the total amount of period costs incurred to sell 10,000 units? (Do not round intermediate calculations.)

Bullseye Company manufactures dartboards. Its standard cost information follows: Standard Price (Rate) Standard Quantity 2.50 sq. ft. 1 hrs. $2.90 per sq. ft. $11.00 per hr. $ 0.40 per hr. Direct materials (cork board) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($68,250+ 195,000 units) Bullseye has the following actual results for the month of September: Number of units produced and sold Number of square feet of corkboard used Cost of corkboard used Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost Required 1 Required 2 Required 3. 1 hrs. Complete this question by entering your answers in the tabs below. Direct Materials Price Variance Direct Materials Quantity Variance Direct Materials Spending Variance Required: 1. Calculate the direct materials price, quantity, and total spending variances for Bullseye. 2. Calculate the direct labor rate, efficiency, and total spending variances for…