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Develop a flexible budget analysis of production costs

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Reference no: EM132622832

Problem - The following budgeted and actual volume and cost data are for July of this year:

 

Budget

Actual

Volume

20,000

18,000

Budgeted manufacturing costs:

 

 

Variable costs per unit:

 

 

Direct materials

$17.00

 

Direct labor

7.00

 

Overhead

2.00

 

Total fixed overhead costs

$220,000

 

Actual manufacturing costs:

 

 

Direct materials

 

$310,000

Direct labor

 

135,000

Variable overhead

 

36,000

Fixed overhead

 

210,000

Required - Develop a flexible budget analysis of production costs for July of this year. Indicate both the amount and direction (Favorable versus Unfavorable) of the spending variance (difference between the flexible budget amount and the actual amount).

Reference no: EM132622832

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