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Do It! Review 22-1 Wade Company estimates that it will produce 6,900 units of product...

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Accounting

Do It! Review 22-1

Wade Company estimates that it will produce 6,900 units of product IOA during the current month. Budgeted variable manufacturing costs per unit are direct materials $7, direct labor $13, and overhead $18. Monthly budgeted fixed manufacturing overhead costs are $7,700 for depreciation and $3,500 for supervision. In the current month, Wade actually produced 7,400 units and incurred the following costs: direct materials $44,900, direct labor $88,400, variable overhead $133,200, depreciation $7,700, and supervision $3,710. 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.)

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Wade Company Static Budget Report Difference Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual 4 $ $ 4. $ $ Were costs controlled

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