Construct a factory overhead cost variance report for the Trim Department for July. Enter a favorable variance as a negative amount, and an unfavorable variance

FIXED FACTORY OVERHEAD VARIANCES AND JOURNAL ENTRIES (YOU MUST SHOW YOUR CALCULATIONS – NO CALCULATIONS, NO CREDIT).   Company’s fixed factory overhead is budgeted at $300,000 for the year on an expected annual production level of 5,000 units.  Each unit of finished product requires three (3) standard direct labor hours. Actual production in units:                                           4,950 units Actual direct labor hours worked                              15,100 hours Actual fixed factory overhead costs incurred:       $298,000     PREPARE JOURNAL ENTRY TO RECOGNIZE THE VARIANCES:

Factory Overhead Cost Variance Report Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for July of the current year, during which it expected to use 14,000 hours for production: Variable overhead costs:     Indirect factory labor $44,800   Power and light 10,780   Indirect materials 21,000      Total variable overhead cost   $76,580 Fixed overhead costs:     Supervisory salaries $61,560   Depreciation of plant and equipment 16,200   Insurance and property taxes 30,240      Total fixed overhead cost   108,000 Total factory overhead cost   $184,580 Tannin has available 18,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 13,000 hours for production. The actual fixed costs were as budgeted. The actual variable overhead for July was as follows: Actual variable factory overhead costs:   Indirect factory labor $40,560…

Yuvwell Corporation's direct labor budget for next year contained the following information: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 8,600 8,500 8,200 8,800 Budgeted direct labor-hours The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $2.75 per direct labor-hour and its total fixed manufacturing overhead is $54,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation of $13,500 per quarter. Required: 1. Prepare the company's manufacturing overhead budget for next year. 2. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for next year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the company's manufacturing overhead budget for next year. Note: Round "Variable manufacturing overhead rate" answers to 2 decimal places. Variable manufacturing…

please help me

I cant figure this one out can someone help me?

Yourtube Company uses a standard cost system and prepared the following budget at normal capacity for the month of January. Direct labor hours Variable factory overhead Fixed factory overhead Total factory overhead per DLH 24,000 $48,000 $108,000 $6.50 Actual data for January were as follows: 22,000 Total factory overhead $147,000 Direct labor hours worked Standard DLH allowed for the capacity attained 21,000 Using the two-way analysis of overhead variances, what is the budget (controllable) variance for January? A. $3,000. B. $13,500 unfavorable. C. $9,000 favorable. D. $10,500 unfavorable.

The Diamond Manufacturing Company uses a standard cost system for and applies overhead based on machine hours. The following information is available for June:  Standard:   Machine hours (MH) per unit 2 Fixed overhead rate per MH $5.00 Budgeted fixed overhead $25,000 Actual:   Machine hours 4,800 Fixed overhead $26,200 Units produced 2,600  Calculate the fixed overhead budget variance and volume variance for the month of June.