Variance-unfavorable DlE Tactory overhead rate 1,000 hrs. × $5.00 Total factory

Question

Variance-unfavorable DlE Tactory overhead rate 1,000 hrs. × $5.00 Total factory overhead cost variance-unfavorable 5,000 $3,500 Identify the errors in the factory overhead cost variance analysis. EX 23-19 Factory overhead cost variance report Medical Molded Products Inc. prepared the following factory the Trim Department for March 2012, during which it expected to use 10,000 hours for d cost budget for production: Variable overhead cost Indirect factory labor Power and light Indirect materials $29,000 7,500 13,000 S 49,500 Total variable cost Fixed overhead cost: Supervisory salaries Depreciation of plant and equipment Insurance and property taxes $34,100 24,800 22,100 81,000 $130,500 Total fixed cost Total factory overhead cost

Explanation / Answer

Ex 23 -19:

Medical Molded Products Inc.

Trim Department

Factory Overhead Cost Variance Report

For the month of March 2012

Actuals Spending Variances Flexible Budget Volume Variances Planning Budget Activity Level 11,000 hours 11,000 hours 10,000 hours $ $ $ $ $ Variable Overhead Costs Indirect Factory Labor 31,100 800 F 31,900 2,900 U 29,000 Power and Light 8,100 150 F 8,250 750 U 7,500 Indirect Materials 15,000 700 U 14,300 1,300 U 13,000 Total Variable Overhead Cost 54,200 250 F 54,450 4,950 U 49,500 Fixed Overhead Cost Supervisory Salaries 34,100 None 34,100 None 34,100 Depreciation : Plant and Equipment 24,800 None 24,800 None 24,800 Insurance and Property Taxes 22,100 None 22,100 None 22,100 Total Fixed Overhead Cost 81,000 None 81,000 None 81,000 Total Overhead Cost $ 135,200 4 250 F $ 135,450 $ 4,950 U $ 130,500

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