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Wade Company estimates that it will produce 6,800 units of product IOA during the current...

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Accounting

Wade Company estimates that it will produce 6,800 units of product IOA during the current month. Budgeted variable manufacturing costs per unit are direct materials $6, direct labor $13, and overhead $19. Monthly budgeted fixed manufacturing overhead costs are $8,500 for depreciation and $3,700 for supervision. In the current month, Wade actually produced 7,300 units and incurred the following costs: direct materials $38,000, direct labor $87,100, variable overhead $137,200, depreciation $8,500, and supervision $3,990. 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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Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual Depreciation Direct Labor Direct Materials Fixed Costs Supervision Total Costs Total Fixed Costs Total Variable Costs Units Produced Variable Costs Were costs controlled

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