Do It! Review 22-1 Wade Company estimates that it will produce 6,400 units of pr
ID: 2580218 • Letter: D
Question
Do It! Review 22-1 Wade Company estimates that it will produce 6,400 units of product IOA during the current month. Budgeted variable manufacturing costs per unit are direct materials $5, direct labor $12, and overhead $17. Monthly budgeted fixed manufacturing overhead costs are $7,500 for depreciation and $3,900 for supervision. In the current month, Wade actually produced 6,900 units and incurred the following costs: direct materials $29,100, direct labor $75,100, variable overhead $117,600, depreciation $7,500, and supervision $4,180 Prepare a static budget report. Hint: The Budget column is based on estimated production while the Actual column is the actual cost incurred during the period. (List variable costs before fixed costs.)Explanation / Answer
Dear Student Thank you for using Chegg Please find below the answer and please give thumbs up Statementshowing Computations Paticulars Budget Actual Difference F or U ..neither F nor U Units 6,400.00 6,900.00 (500.00) F Variable costs Direct Material 32,000.00 29,100.00 2,900.00 F Direct Labour 76,800.00 75,100.00 1,700.00 F Overhead 108,800.00 117,600.00 (8,800.00) U Total Variable costs 217,600.00 221,800.00 (4,200.00) U Fixed costs Depreciation 7,500.00 7,500.00 - Neither F nor U Supervision 3,900.00 4,180.00 (280.00) U Total Fixed costs 11,400.00 11,680.00 (280.00) U Total Costs 229,000.00 233,480.00 (4,480.00) U No costs were not controlled as per statc budget
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