Required: 1&2. Prepare flexible overhead budgets for October showing the amounts of each v… Assignment Help

  

Required:1&2.Prepare flexible overhead budgets for October showing theamounts of each variable and fixed cost at the 65%, 75%, and 85%capacity levels and classify all items listed in the fixed budgetas variable or fixed.Problem 23-5A Part 33.Compute the direct materials cost variance, including its priceand quantity variances. (Round actual price to 2 decimalplaces.)Problem 23-5A Part 44.Compute the direct labor cost variance, including its rate andefficiency variances.(Round actual rate to 2 decimalplaces.)Antuan Company set the followingstandard costs for one unit of its product.      Direct materials((3.0 Ibs. @ $5.0 per Ib.)$15.00  Direct labor (1.7hrs. @ $14.0 per hr.)23.80  Overhead (1.7 hrs. @$18.50 per hr.)31.45    Total standardcost$70.25  The predetermined overhead rate ($18.50 per direct labor hour)is based on an expected volume of 75% of the factory’s capacity of20,000 units per month. Following are the company’s budgetedoverhead costs per month at the 75% level.Overhead Budget (75% Capacity)  Variable overheadcosts     Indirect materials$15,000     Indirect labor75,000     Power15,000     Repairs and maintenance30,000       Total variable overhead costs$135,000  Fixed overheadcosts     Depreciation—building24,000     Depreciation—machinery70,000     Taxes and insurance16,000     Supervision226,750       Total fixed overhead costs336,750    Total overheadcosts$471,750  The company incurred thefollowing actual costs when it operated at 75% of capacity inOctober.    Direct materials(46,500 Ibs. @ $5.20 per lb.)$241,800  Direct labor (30,000hrs. @ $14.30 per hr.)429,000  Overhead costs     Indirect materials$43,250     Indirect labor176,500     Power17,250     Repairs and maintenance34,500     Depreciation—building24,000     Depreciation—machinery94,500     Taxes and insurance14,400     Supervision226,750631,150    Total costs$1,301,950  Show transcribed image text The corpsry Incurred the floring labor 30000 hrs. Deprecisoon buldng exible owehend badgets Ottober showing the mounts of ath variatie and fired cost than 65%, 758i, BE i capacily levels and classi al the budget NTUAN COMPA Fleauble overhead Budg Sales In costs Compute the variance including in price quantity v R al places) 4 Compute the drett labor cost dard Cost including its rate and eiciency rances Round actual Cost

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