Topeka Plastics Inc. prepared the following factory overhead cost budget for the Trim Department for July, during which it expected to use 13,000 hours for production: Variable overhead cost: Indirect factory labor $39,000 Power and light 10,010 Indirect materials 22,100 Total variable cost $ 71,110 Fixed overhead cost: Supervisory salaries $54,260 Depreciation of plant and equipment 14,280 Insurance and property taxes 26,660 Total fixed cost 95,200 Total factory overhead cost $166,310 Topeka Plastics has available 17,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 12,000 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 $35,100 Power and light 9,070 Indirect materials 21,400 Total variable cost $65,570 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 as a positive amount. If an answer box does not require an entry, leave it blank or enter zero "0". Topeka Plastics Inc. Factory Overhead Cost Variance Report-Trim Department For the Month Ended July 31 Productive capacity for the month: 17,000 hrs Actual productive capacity used for the month: 12,000 hrs Budget (at actual production) Actual Favorable Variances Unfavorable Variances Variable factory overhead costs: Indirect factory labor $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 $fill in the blank 4 Power and light fill in the blank 5 fill in the blank 6 fill in the blank 7 fill in the blank 8 Indirect materials fill in the blank 9 fill in the blank 10 fill in the blank 11 fill in the blank 12 Total variable factory overhead cost $fill in the blank 13 $fill in the blank 14 Fixed factory overhead costs: Supervisory salaries $fill in the blank 15 $fill in the blank 16 fill in the blank 17 fill in the blank 18 Depreciation of plant and equipment fill in the blank 19 fill in the blank 20 fill in the blank 21 fill in the blank 22 Insurance and property taxes fill in the blank 23 fill in the blank 24 fill in the blank 25 fill in the blank 26 Total fixed factory overhead cost $fill in the blank 27 $fill in the blank 28 fill in the blank 29 fill in the blank 30 Total factory overhead cost $fill in the blank 31 $fill in the blank 32 fill in the blank 33 fill in the blank 34 Total controllable variances $fill in the blank 35 $fill in the blank 36 Net controllable variance-favorable $fill in the blank 38 Volume variance-unfavorable: Idle hours at the standard rate for fixed factory overhead fill in the blank 40 Total factory overhead cost variance-unfavorable $fill in the blank 42

Topeka Plastics Inc. prepared the following factory overhead cost budget for the Trim Department for July, during which it expected to use 13,000 hours for production: Variable overhead cost: Indirect factory labor $39,000 Power and light 10,010 Indirect materials 22,100 Total variable cost $ 71,110 Fixed overhead cost: Supervisory salaries $54,260 Depreciation of plant and equipment 14,280 Insurance and property taxes 26,660 Total fixed cost 95,200 Total factory overhead cost $166,310 Topeka Plastics has available 17,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 12,000 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 $35,100 Power and light 9,070 Indirect materials 21,400 Total variable cost $65,570 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 as a positive amount. If an answer box does not require an entry, leave it blank or enter zero "0". Topeka Plastics Inc. Factory Overhead Cost Variance Report-Trim Department For the Month Ended July 31 Productive capacity for the month: 17,000 hrs Actual productive capacity used for the month: 12,000 hrs Budget (at actual production) Actual Favorable Variances Unfavorable Variances Variable factory overhead costs: Indirect factory labor $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 $fill in the blank 4 Power and light fill in the blank 5 fill in the blank 6 fill in the blank 7 fill in the blank 8 Indirect materials fill in the blank 9 fill in the blank 10 fill in the blank 11 fill in the blank 12 Total variable factory overhead cost $fill in the blank 13 $fill in the blank 14 Fixed factory overhead costs: Supervisory salaries $fill in the blank 15 $fill in the blank 16 fill in the blank 17 fill in the blank 18 Depreciation of plant and equipment fill in the blank 19 fill in the blank 20 fill in the blank 21 fill in the blank 22 Insurance and property taxes fill in the blank 23 fill in the blank 24 fill in the blank 25 fill in the blank 26 Total fixed factory overhead cost $fill in the blank 27 $fill in the blank 28 fill in the blank 29 fill in the blank 30 Total factory overhead cost $fill in the blank 31 $fill in the blank 32 fill in the blank 33 fill in the blank 34 Total controllable variances $fill in the blank 35 $fill in the blank 36 Net controllable variance-favorable $fill in the blank 38 Volume variance-unfavorable: Idle hours at the standard rate for fixed factory overhead fill in the blank 40 Total factory overhead cost variance-unfavorable $fill in the blank 42

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter9: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 15E: Factory overhead cost variances The following data relate to factory overhead cost for the...

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Topeka Plastics Inc. prepared the following factory overhead cost budget for the Trim Department for July, during which it expected to use 13,000 hours for production:

Variable overhead cost:
Indirect factory labor	$39,000
Power and light	10,010
Indirect materials	22,100
Total variable cost		$ 71,110
Fixed overhead cost:
Supervisory salaries	$54,260
Depreciation of plant and equipment	14,280
Insurance and property taxes	26,660
Total fixed cost		95,200
Total factory overhead cost		$166,310

Topeka Plastics has available 17,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 12,000 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	$35,100
Power and light	9,070
Indirect materials	21,400
Total variable cost	$65,570

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 as a positive amount. If an answer box does not require an entry, leave it blank or enter zero "0".

Topeka Plastics Inc.
Factory Overhead Cost Variance Report-Trim Department
For the Month Ended July 31
Productive capacity for the month:	17,000 hrs
Actual productive capacity used for the month:	12,000 hrs
	Budget (at actual production)	Actual	Favorable Variances	Unfavorable Variances
Variable factory overhead costs:
Indirect factory labor	$fill in the blank 1	$fill in the blank 2	$fill in the blank 3	$fill in the blank 4
Power and light	fill in the blank 5	fill in the blank 6	fill in the blank 7	fill in the blank 8
Indirect materials	fill in the blank 9	fill in the blank 10	fill in the blank 11	fill in the blank 12
Total variable factory overhead cost	$fill in the blank 13	$fill in the blank 14
Fixed factory overhead costs:
Supervisory salaries	$fill in the blank 15	$fill in the blank 16	fill in the blank 17	fill in the blank 18
Depreciation of plant and equipment	fill in the blank 19	fill in the blank 20	fill in the blank 21	fill in the blank 22
Insurance and property taxes	fill in the blank 23	fill in the blank 24	fill in the blank 25	fill in the blank 26
Total fixed factory overhead cost	$fill in the blank 27	$fill in the blank 28	fill in the blank 29	fill in the blank 30
Total factory overhead cost	$fill in the blank 31	$fill in the blank 32	fill in the blank 33	fill in the blank 34
Total controllable variances			$fill in the blank 35	$fill in the blank 36
Net controllable variance-favorable				$fill in the blank 38
Volume variance-unfavorable:
Idle hours at the standard rate for fixed factory overhead				fill in the blank 40
Total factory overhead cost variance-unfavorable				$fill in the blank 42

Topeka PlasIcs INc.
Factory Overhead Cost Variance Report-Trim Department
For the Month Ended July 31
Productive capacity for the month:
17,000 hrs
Actual productive capacity used for the month:
12,000 hrs
Budget (at actual production) Actual
Favorable Variances
Unfavorable Variances
Variable factory overhead costs:
Indirect factory labor
36,000
35,100 V
900
Power and light
9,240
9,070
170
Indirect materials
20,400
21,400
1,000
Total variable factory overhead cost
29,640
65,570
Fixed factory overhead costs:
Supervisory salaries
54,260
54,260
Depreciation of plant and equipment
14,280
14,280
Insurance and property taxes
26,660
26,660
Total fixed factory overhead cost
95,200
95.200
Total factory overhead cost
S 124.840 X
160,770
1,070 X
1,000
Total controllable variances
70 X
Net controllable variance-favorable /
Volume variance-unfavorable:
Idle hours at the standard rate for fixed factory overhead
28,000
Total factory overhead cost variance-unfavorable
S 28.070
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