Question 1 Your answer is partially correct. Try again. Wade Company estimates t

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Question 1 Your answer is partially correct. Try again. Wade Company estimates that it will produce 6,300 units of product IOA during the current month. Budgeted variable manufacturing costs per unit are direct materials $8, direct labor $12, and overhead $17. Monthly budgeted fixed manufacturing overhead costs are $8,500 for depreciation and $3,600 for supervision In the current month, Wade actually produced 6,800 units and incurred the following costs: direct materials?47,500, direct labor $74,600, variable overhead $115,800, depreciation 8,500, and supervision S3,810. 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.) Wade Company Static Budget Report Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual Units Produced Direct Materials Direct Labor Variable Costs Total Variable Costs Fixed Costs Flxced Costs Total Variable Costs Total Fixed Costs

Explanation / Answer

difference Budget Actual units produced 6,300 6,800 variable manufacturing costs direct material 50400 47,500 2,900 F direct labor 75600 74,600 1,000 F variable overhead 107100 115,800 8,700 U total variable mfg cost 233100 237,900 4,800 U fixed manufacturing oh costs Depreciation 8,500 8,500 0 N supervision 3,600 3,810 210 U Total fixed manufacturing oh cost 12,100 12,310 210 U total cost 245,200 250,210 5,010 U

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