Factory Overhead Cost Variance Report Feeling Better Medical Inc., a manufacturer of disposable medical supplies, prepared the following factory overhead cost budget for the Assembly Department for October 2014. The company expected to operate the department at 100% of normal capacity of 30,000 hours. 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 $247,500 189,000 52,500 $126,000 70,000 44,000 $489,000 240,000 $729,000 During October, the department operated at 28,500 hours, and the factory overhead costs incurred were indirect factory wages, $234,000; power and light, $178,500; indirect materials, $50,600; supervisory salaries, $126,000; depreciation of plant and equipment, $70,000; and insurance and property taxes, $44,000.

Factory Overhead Cost Variance Report Feeling Better Medical Inc., a manufacturer of disposable medical supplies, prepared the following factory overhead cost budget for the Assembly Department for October 2014. The company expected to operate the department at 100% of normal capacity of 30,000 hours. 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 $247,500 189,000 52,500 $126,000 70,000 44,000 $489,000 240,000 $729,000 During October, the department operated at 28,500 hours, and the factory overhead costs incurred were indirect factory wages, $234,000; power and light, $178,500; indirect materials, $50,600; supervisory salaries, $126,000; depreciation of plant and equipment, $70,000; and insurance and property taxes, $44,000.

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Description: What is the idle hours at the standard rate for fixed factory overhead and the total factory overhead cost variance? Factory Overhead Cost Variance ReportFeeling Better Medical Inc., a manufacturer of disposable medical supplies, prepared the followi

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter23: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 4PB: Factory overhead cost variance report Feeling Better Medical Inc., a manufacturer of disposable...

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enow.com stom Order < eBook Fixed overhead cost: 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 17,000 hours for production: Variable overhead cost: Indirect factory labor Power and light Indirect materials Total variable overhead cost LakeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Supervisory salaries Depreciation of plant and equipment Insurance and property taxes Total fixed overhead cost Indirect factory labor Power and light Indirect materials Print Item Total variable cost Check My Work $40,560 11,470 20,200 $72,230 $44,200 12,410 20,400 Total factory overhead cost Tannin has available 21,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 16,000 hours for production. The actual fixed costs were as budgeted.…
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 17,000 hours for production: Variable overhead cost: Indirect factory labor Power and light Indirect materials Total variable overhead cost Fixed overhead cost: Supervisory salaries Depreciation of plant and equipment Insurance and property taxes Total fixed overhead cost Total variable cost $44,200 12,410 20,400 $40,560 11,470 20,200 $72,230 $73,020 19,220 35,860 $77,010 Total factory overhead cost. Tannin has available 21,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 16,000 hours for production. The actual fixed costs were as budgeted. The actual variable overhead for July was as follows: Actual variable factory overhead cost: Indirect factory labor Power and light Indirect materials 128,100 $205,110…
Factory Overhead Cost Variance Report 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 5,000 hours. Variable costs: Indirect factory wages Power and light Indirect materials Total variable cost Fixed costs: Supervisory salaries Depreciation of plant and equipment $17,000 10,150 8,150 Normal capacity for the month 5,000 hrs. Actual production for the month 5,300 hrs. $10,350 26,550 8,100 Insurance and property taxes Total fixed cost Total factory overhead cost. During October, the department operated at 5,300 standard hours, and the factory overhead costs incurred were indirect factory wages, $18,200; power and light, $10,570; indirect materials, $8,800; supervisory salaries, $10,350; depreciation of plant and equipment, $26,550; and insurance and property taxes, $8,100.…
Factory Overhead Cost Variance Report 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 9,000 hours. Variable costs: Indirect factory wages $27,900 Power and light 21,420 Indirect materials 18,720 Total variable cost $68,040 Fixed costs: Supervisory salaries $15,110 Depreciation of plant and equipment 38,760 Insurance and property taxes 11,830 Total fixed cost 65,700 Total factory overhead cost $133,740 During October, the department operated at 9,500 standard hours, and the factory overhead costs incurred were indirect factory wages, $29,740; power and light, $22,200; indirect materials, $20,200; supervisory salaries, $15,110; depreciation of plant and equipment, $38,760; and insurance and…
Factory Overhead Cost Variance Report 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 7,400 hours. Variable costs: Indirect factory wages $22,940 Power and light 15,466 Indirect materials 13,246 Total variable cost $51,652 Fixed costs: Supervisory salaries $14,470 Depreciation of plant and equipment 37,110 Insurance and property taxes 11,320 Total fixed cost 62,900 Total factory overhead cost $114,552 During October, the department operated at 7,800 standard hours. The factory overhead costs incurred were indirect factory wages, $24,420; power and light, $16,010; indirect materials, $14,200; supervisory salaries, $14,470; depreciation of plant and equipment, $37,110; and insurance and property…
Spree Party Lights overhead expenses are: Indirect material, pounds per unit Indirect material, cost per pound Indirect labor hours Indirect labor rate per hour Variable maintenance per unit Variable utilities per unit Supervisor salaries Maintenance salaries Insurance Depreciation Units to Produce Variable Costs Indirect Material Indirect Labor Maintenance Prepare a manufacturing overhead budget if the number of units to produce for January, February, and March are 2,400, 2,900, and 2,600, respectively. Spree Party Lights Manufacturing Overhead Budget For the Quarter Ending January - March January February Utilities Total Variable Manufacturing Costs Fixed Costs Supervisory Salaries Maintenance Salaries Insurance Depreciation 0.30 $2 1 Total Fixed Manufacturing Costs Total Manufacturing Overhead $16.00 $0.75 $0.20 $9,000 $8,000 $4,000 $1,400 March