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Required information The folloing information applies to the questions displayed below Sedona Company set the followng standard costs for one unit of ts product for 2017. Direct material (20 Ibs$3.30 per D.) Direet labor (15 hrs. e $6.00 per hr.) Paetory variable overhead (15 hrs. $2.80 per hr.) Factory fixed ovethead (15 hrs. e $1.20 per hr.) Standard cost S 66.00 90.00 42.00 18.00 $216.00 The $400 ($280 * $120) total overhead rate per direct labor hour is based on an expected operating level equal to 75% of the factorys capacity of 58,000 units per month. The following monthly flexdble budget Information Is also available. Levels of Flexible Budget Budgeted output (units) Budgeted labor (standard hours) Budgeted overhead (dollars) 753 40,600 609,000 43, 500 652, 500 46,400 696, 000 Variable overhead Pixed overhead $1,705, 200 $1,827,000 $1,948,800 783,000 $2, 488, 200 $2,610,000 $2,731, B00 783,000 783, 000 Total overhead During the current month, the company operated at 70% of capacity, employees actual overhead costs were Incurred. worked 575 hours, and the following Variable overhead costs Fixed overhead costs Total overhead costs costs1,624,000 866,000 $2, 490, 000 AH Actual Hours SH- Standard Hours AVR-Actual Vartable Rate SVR Standard Variable Rate SFR Standard Fixed Rate
Homework Required information During the current month, the com actual overhead costs were Incurred pany operated at 70% of capacity, employees worked 575,000 hours, and the following Variable overhead costs Pixed overhead costs Total overhead costs $1, 624, 000 866, 000 $2, 490,000 AH- Actual Hours SH-Standard Hours AVR- Actual Varlable Rate SVR Standard Variable Rate SFR Standard Fixed Rate overhead application rate per hour for variable overhead, foxed overhead, and total (1) Compute the overhead at 75% of capacity. OH Rat Variable overhead costs Foxed overhead costs Total overhead costs (2) Compute the total variable and total foxed overhead variances and classify each as favorable or unfavorable. At 70% of Operating Capacity Standard DL Overhead Costs Hours ied Results Variance Variable overhead costs Foxed overhead costs Total overhead costs < Prey
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