Feeling better medical inc., a manufacturer of disposable medical supplies, prepared the following factory overhead cost budget for the assembly department for october of the current year. the company expected to operate the department at 100% of normal capacity of 7,000 hours.
variable costs:
indirect factory wages $21,000
power and light 15,540
indirect materials 13,440
total variable cost $49,980
fixed costs:
supervisory salaries $12,720
depreciation of plant and equipment 32,630
insurance and property taxes 9,950
total fixed cost 55,300
total factory overhead cost $105,280
during october, the department operated at 7,400 standard hours, and the factory overhead costs incurred were indirect factory wages, $22,420; power and light, $16,130; indirect materials, $14,500; supervisory salaries, $12,720; depreciation of plant and equipment, $32,630; and insurance and property taxes, $9,950.
required:
prepare a factory overhead cost variance report for october. to be useful for cost control, the budgeted amounts should be based on 7,400 hours. enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. round your per unit computations to the nearest cent, if required. if an amount box does not require an entry, leave it blank.
feeling better medical inc.
factory overhead cost variance report—assembly department
for the month ended october 31
normal capacity for the month 7,000 hrs.
actual production for the month 7,400 hrs.
budget actual favorable variances unfavorable variances
variable costs:
indirect factory wages
power and light
indirect materials
total variable cost
fixed costs:
supervisory salaries
depreciation of plant and equipment
insurance and property taxes
total fixed cost
total factory overhead cost
total controllable variances
excess hours used over normal at the standard rate for fixed factory overhead
Answers: 2
Business, 22.06.2019 08:10, alex7881
The last time he flew jet value air, juan's plane developed a fuel leak and had to make an 4) emergency landing. the time before that, his plane was grounded because of an electrical problem. juan is sure his current trip will be fraught with problems and he will once again be delayed. this is an example of the bias a) confirmation b) availability c) selective perception d) randomness
Answers: 1
Business, 22.06.2019 11:10, evansh78
Use the following account numbers and corresponding account titles to answer the following question. account no. account title (1) cash (2) merchandise inventory (3) cost of goods sold (4) transportation-out (5) dividends (6) common stock (7) selling expense (8) loss on the sale of land (9) sales which accounts would appear on the income statement?
Answers: 3
Business, 22.06.2019 13:50, xcoder1732
Suppose portugal has 700 workers and 26,000 units of capital, and france has 18,000 workers and 700 units of capital. technology is identical in both countries. assume that wine is the capital-intensive good and cloth is the labor-intensive good. which of the following statements is correct if the nations start trading with each other? a) wages will increase in portugal. b) rental rates in france will increase. c) wages in france will decrease. d) rental rates in portugal will increase.
Answers: 2
Feeling better medical inc., a manufacturer of disposable medical supplies, prepared the following f...