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Complete the table below for the missing variances Click the icon to view the table.) Calculate...
Data Table Total Flexible Budget Product Cost Variance Total Direct Materials Variance Total Manufacturing Overhead Variance...
Data Table Total Flexible Budget Product Cost Variance Total Direct Materials Variance Total Manufacturing Overhead Variance (0) Total Direct Labor Variance (c) Direct Labor Direct Labor Cost Variance Efficiency Variance $ 180 U $ 305 F (b) Direct Materials Efficiency Variance $ 145 U Direct Materials Cost Variance $ 520 F Total Variable Overhead Variance Total Fixed Overhead Variant Fixed Overhead (e) Variable Overhead Cost Variance 5750 Variable Overhead Efficiency Variance $ 600 F Cost Variance $ 125 F Print...
Calculate the variances and identify whether the variance is favorable (F) or unfavorable (U).
Complete the table below for the missing variances Calculate the variances and identify whether the variance is favorable (F) or unfavorable (U). (b) Total Direct Materials Variance (c) Total Direct Labor Variance (e) Total Variable Overhead Variance (f) Total Fixed Overhead Variance (d) Total Manufacturing Overhead Variance (a) Total Flexible Budget Product Cost Variance
Consider the following data collected for Seaside Homes, Inc Click the icon to view the datatable)...
Consider the following data collected for Seaside Homes, Inc Click the icon to view the datatable) Requirement Compute the price, efficiency, and flexible budget variances for direct materials and direct manufacturing labor First compute the price officiency, and flexible-budget variances for direct materials. Labelcach variance as favorable (F) or unfavorable (U). Price variance Efficiency variance Flexible-budget variance Data Table - X Direct Manufacturing Labor 36.000 Direct Materials $ 199,000 202.000 Costs incurred: Actual inputs actual prices Actual inputs standard prices...
Goldman Company reported the following manufacturing overhead variances. (Click the icon to view the overhead variances.)...
Goldman Company reported the following manufacturing overhead variances. (Click the icon to view the overhead variances.) 24. Record the journal entry to adjust Manufacturing Overhead. 25. Was Manufacturing Overhead overallocated or underallocated? 24. Record the journal entry to adjust Manufacturing Overhead. (Prepare a single compound journal entry. Record debits first, then credits. Select the explanation on the last line of the joumal entry table.) Accounts and Explanation Debit Credit Date i Data Table $ Variable overhead cost variance Variable overhead...
Brookman Company reported the following manufacturing overhead variances. ElB (Click the icon to view the overhead...
Brookman Company reported the following manufacturing overhead variances. ElB (Click the icon to view the overhead variances.) 24. Record the journal entry to adjust Manufacturing Overhead 25. Was Manufacturing Overhead overallocated or underallocated? 24. Record the journal entry to adjust Manufacturing Overhead. (Prepare a single compound journal entry. Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Data Table Variable overhead cost variance Variable overhead efficiency...
0 Data Table lices, and standard unit jes of famous histo mount of resource ata.) met...
0 Data Table lices, and standard unit jes of famous histo mount of resource ata.) met data.) Expected production and sales Expected selling price per unit Total fixed costs $ $ 7,000 units 680 1,400,000 me variance and fi Data Table Direct materials Direct manufacturing labor Standard Quantity 10 pounds 3.7 hours Standard Price 58 per pound $50 per hour Standard Unit Cost $80 $185 During 2017, actual number of units produced and sold was 4,800, at an average selling...
The May 2018 revenue and cost information for Boston Outfitters, Inc. follows: BE(Click the icon to...
The May 2018 revenue and cost information for Boston Outfitters, Inc. follows: BE(Click the icon to view the revenue and cost information.) Prepare a standard cost income statement for management through gross profit. Report all standard cost variances for management's use. Has management done a good or poor job of controlling costs? Explain. (Use a minus sign or parentheses to enter any contra expenses. Enter all other amounts as positive numbers.) Boston Outfitters, Inc. Standard Cost Income Statement For the...
PA9-1 (Algo) Calculating Direct Material, Direct Labor, Variable Overhead Variances [LO 9-3, 9-4, 9-5] Barley Hopp,...
PA9-1 (Algo) Calculating Direct Material, Direct Labor, Variable Overhead Variances [LO 9-3, 9-4, 9-5] Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Quantity Standard Price (Rate) Standard Unit Cost Direct materials (clay) 1.70 lbs. $ 1.80 per lb. $ 3.06 Direct labor 1.70 hrs. $ 11.00 per hr. 18.70 Variable manufacturing overhead (based on direct labor hours) 1.70 hrs. $ 1.10 per hr. 1.87 Fixed manufacturing overhead ($420,500.00 ÷ 145,000.00 units) 2.90 Barley Hopp...
The following information relates to Watson, Inc.'s overhead costs for the month: E: (Click the icon...
The following information relates to Watson, Inc.'s overhead costs for the month: E: (Click the icon to view the information.) Requirements 1. Compute the overhead variances for the month: variable overhead cost variance, variable overhead efficiency variance, fixed overhead cost variance, and fixed overhead volume variance. 2. Explain why the variances are favorable or unfavorable. Requirement 1. Compute the overhead variances for the month: variable overhead cost variance, variable overhead efficiency variance, fixed overhead cost variance, and fixed overhead volume...
Sutherland Company produced 7,000 book bags in June and actos amounts were as follows: (Click the...
Sutherland Company produced 7,000 book bags in June and actos amounts were as follows: (Click the icon to view the actual amounts) Sutherlands standards were as follows: (Click the icon to view the standards.) Requirements 1. Compute cost and efficiency variances for direct materials, dired labor, and variable overhead 2. Compute the cost and volume variances for fred overhead Requirement 1. Compute cost and efficiency variances for direct materials, direct labor, and variable overhead Select the formulas to calculate direct...
Data Table Total Flexible Budget Product Cost Variance Total Direct Materials Variance Total Manufacturing Overhead Variance (0) Total Direct Labor Variance (c) Direct Labor Direct Labor Cost Variance Efficiency Variance $ 180 U $ 305 F (b) Direct Materials Efficiency Variance $ 145 U Direct Materials Cost Variance $ 520 F Total Variable Overhead Variance Total Fixed Overhead Variant Fixed Overhead (e) Variable Overhead Cost Variance 5750 Variable Overhead Efficiency Variance $ 600 F Cost Variance $ 125 F Print...
Consider the following data collected for Seaside Homes, Inc Click the icon to view the datatable) Requirement Compute the price, efficiency, and flexible budget variances for direct materials and direct manufacturing labor First compute the price officiency, and flexible-budget variances for direct materials. Labelcach variance as favorable (F) or unfavorable (U). Price variance Efficiency variance Flexible-budget variance Data Table - X Direct Manufacturing Labor 36.000 Direct Materials $ 199,000 202.000 Costs incurred: Actual inputs actual prices Actual inputs standard prices...
Goldman Company reported the following manufacturing overhead variances. (Click the icon to view the overhead variances.) 24. Record the journal entry to adjust Manufacturing Overhead. 25. Was Manufacturing Overhead overallocated or underallocated? 24. Record the journal entry to adjust Manufacturing Overhead. (Prepare a single compound journal entry. Record debits first, then credits. Select the explanation on the last line of the joumal entry table.) Accounts and Explanation Debit Credit Date i Data Table $ Variable overhead cost variance Variable overhead...
Brookman Company reported the following manufacturing overhead variances. ElB (Click the icon to view the overhead variances.) 24. Record the journal entry to adjust Manufacturing Overhead 25. Was Manufacturing Overhead overallocated or underallocated? 24. Record the journal entry to adjust Manufacturing Overhead. (Prepare a single compound journal entry. Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Data Table Variable overhead cost variance Variable overhead efficiency...
0 Data Table lices, and standard unit jes of famous histo mount of resource ata.) met data.) Expected production and sales Expected selling price per unit Total fixed costs $ $ 7,000 units 680 1,400,000 me variance and fi Data Table Direct materials Direct manufacturing labor Standard Quantity 10 pounds 3.7 hours Standard Price 58 per pound $50 per hour Standard Unit Cost $80 $185 During 2017, actual number of units produced and sold was 4,800, at an average selling...
The May 2018 revenue and cost information for Boston Outfitters, Inc. follows: BE(Click the icon to view the revenue and cost information.) Prepare a standard cost income statement for management through gross profit. Report all standard cost variances for management's use. Has management done a good or poor job of controlling costs? Explain. (Use a minus sign or parentheses to enter any contra expenses. Enter all other amounts as positive numbers.) Boston Outfitters, Inc. Standard Cost Income Statement For the...
The following information relates to Watson, Inc.'s overhead costs for the month: E: (Click the icon to view the information.) Requirements 1. Compute the overhead variances for the month: variable overhead cost variance, variable overhead efficiency variance, fixed overhead cost variance, and fixed overhead volume variance. 2. Explain why the variances are favorable or unfavorable. Requirement 1. Compute the overhead variances for the month: variable overhead cost variance, variable overhead efficiency variance, fixed overhead cost variance, and fixed overhead volume...
Sutherland Company produced 7,000 book bags in June and actos amounts were as follows: (Click the icon to view the actual amounts) Sutherlands standards were as follows: (Click the icon to view the standards.) Requirements 1. Compute cost and efficiency variances for direct materials, dired labor, and variable overhead 2. Compute the cost and volume variances for fred overhead Requirement 1. Compute cost and efficiency variances for direct materials, direct labor, and variable overhead Select the formulas to calculate direct...
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