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Talja [164]
2 years ago
6

Wade Company estimates that it will produce 6,000 units of product IOA during the current month. Budgeted variable manufacturing

costs per unit are direct materials $5, direct labor $11, and overhead $17. Monthly budgeted fixed manufacturing overhead costs are $7,500 for depreciation and $3,500 for supervision. In the current month, Wade actually produced 6,500 units and incurred the following costs: direct materials $27,500, direct labor $65,000, variable overhead $110,000, depreciation $7,500, and supervision $3,700. 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 Difference Budget Actual Favorable Unfavorable Neither Favorable nor Unfavorable $ $ $ $ $ $
Business
1 answer:
Elodia [21]2 years ago
8 0

Explanation:

                             STATIC  BUDGET          ACTUAL VARIANCE

Units                           6000                    6500  

variable costs    

Direct material          30000                      27500 2500 favorable

Direct labor                   66000                      65000 1000 favorable

Manufacturing overhead 102000              110000 8000 Unfavorable

Fixed costs    

Depreciation                    7500                       7500          None

supervision                    3500                        3700 200 Unfavorable

Total expenses            209000               213700 4700 unfavorable

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Incomplete question. Hence, In answered from a general economic perspective.

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3 years ago
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Answer:

Explanation:

The journal entry that would include is shown below:

Work in Progress inventory A/c Dr           $125,000

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The computation is shown below:

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