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Data Table Total Flexible Budget Product Cost Variance Total Direct Materials Variance Total Manufacturing Overhead Variance...
Complete the table below for the missing variances Click the icon to view the table.) Calculate...
Complete the table below for the missing variances Click the icon to view the table.) 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 19 of 40 (16 complete) This Data Table Total Manufacturing Overhead Variance Total Direct Materials Variance (b) Direct Materials...
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
Q.1. The Bala Manufacturing Company's costing system has two direct-cost categories: direct materials and direct manufacturing...
Q.1. The Bala Manufacturing Company's costing system has two direct-cost categories: direct materials and direct manufacturing labor. Manufacturing overhead (both variable and fixed) is allocated to products on the basis of standard direct manufacturing labor hours (DLH). At the beginning of 2012, Bala adopted the following standards for its manufacturing costs: Input Cost per Output Unit Direct materials 3 lb, at 55 per lb $ 15.00 Direct manufacturing labor 5 hrs, at $15 per hr 75.00 Manufacturing overhead: Variable S6...
X Data Table 1 Standard Cost Information Quantity Cost 0.15 per part Direct Materials 2 parts...
X Data Table 1 Standard Cost Information Quantity Cost 0.15 per part Direct Materials 2 parts 0.02 hours Direct Labor 9.00 per hour Variable Manufacturing Overhead 0.02 hours 9.00 per hour Fixed Manufacturing Overhead ($31,360 for static budget volume of 98,000 units and 1,960 hours, or $16 per hour) Actual Cost Information $ 0.20 per part) $ 42,200 (211,000 parts@ Direct Materials $ 9.15 per hour) Direct Labor (1,660 hours@ 15,189 Variable Manufacturing Overhead 10,000 Fixed Manufacturing Overhead 30,000 Print...
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing...
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor Indirect materials Utilities $1.30 0.70 0.40 Fixed overhead costs per month are Supervision $4,500, Depreciation $1,000, and Property Taxes $700. The company believes it will normally operate in a range of 6,300-11,100 direct labor hours per month. Assume that in July 2020, Myers Company incurs the following manufacturing overhead costs. Variable Costs Fixed...
department's static budget and actual results for 2019 follow: Production in units Direct materials Direct labor...
department's static budget and actual results for 2019 follow: Production in units Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing cost Static Budget 30,000 kits $ 234,000 204,000 45,000 483,000 214,000 $697,000 Actual Results 31,600 kits $ 283,880 208,580 51,100 543,560 209,800 $ 753,360 Required a. Convert the static budget into a flexible budget. b. Calculate the variances. Complete this question by entering your answers in the tabs below. Required A Required B...
need help with the journal Materials Direct Materials Price Variance Direct materials (5 lbs. @ $2.60)...
need help with the journal
Materials Direct Materials Price Variance Direct materials (5 lbs. @ $2.60) Accounts Payable $13.00 Work in Process Direct labor (0.75 hr. @ $18.00) 13.50 Direct Materials Usage Variance Materials Fixed overhead (0.75 hr. @ $4.00) 3.00 Variable overhead (0.75 hr. @ $3.00) 2.25 Work in Process Direct Labor Efficiency Variance Direct Labor Rate Variance Wages Payable Standard cost per unit $31.75 Work in Process Variable Overhead Control Fixed Overhead Control Algers computes its overhead rates...
Consider the following data collected for Country Homes, Inc.: Direct Direct Materials Manufacturing Labor $ 204,000...
Consider the following data collected for Country Homes, Inc.: Direct Direct Materials Manufacturing Labor $ 204,000 Costs incurred: Actual inputs x actual prices $ 93,000 207,000 Actual inputs x standard prices 87,000 Standard inputs allowed for actual output x standard prices 217,000 82,000 Requirement 1. Compute the price, efficiency, and flexible-budget variances for direct materials and direct manufacturing labor. Begin by computing the price, efficiency, and flexible-budget variances for direct materials. (Label each variance as favorable (F) or unfavorable (U).)...
Smith Recliners manufactures leather recliners and uses flexible budgeting and a standard cost system. Smith allocates...
Smith Recliners manufactures leather recliners and uses flexible budgeting and a standard cost system. Smith allocates overhead based on yards of direct materials. The company's performance report includes the following selected data: (Click the icon to view the selected data.) Read the requirements Requirement 1. Prepare a flexible budget based on the actual number of recliners sold. (Round budget amounts per unit to the nearest cent.) 980 Smith Recliners Flexible Budget Budget Amounts per Unit Actual Units (Recliners) Sales Revenue...
Flandro Company uses a standard cost system and sets its predetermined overhead rate on the basis of direct labor...
Flandro Company uses a standard cost system and sets its predetermined overhead rate on the basis of direct labor-hours. The following data are taken from the company's planning budget for the current year: Denominator activity (direct labor-hours) Variable manufacturing overhead coat Fixed manufacturing overhead coat $ 4,250 The standard cost card for the company's only product is given below. Standard Inputs Direct materials Direct labor Mutacturing overhead Total standard cost per Standard Quantity Dr Hours yards 2 hours 2 hour...
Complete the table below for the missing variances Click the icon to view the table.) 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 19 of 40 (16 complete) This Data Table Total Manufacturing Overhead Variance Total Direct Materials Variance (b) Direct Materials...
Q.1. The Bala Manufacturing Company's costing system has two direct-cost categories: direct materials and direct manufacturing labor. Manufacturing overhead (both variable and fixed) is allocated to products on the basis of standard direct manufacturing labor hours (DLH). At the beginning of 2012, Bala adopted the following standards for its manufacturing costs: Input Cost per Output Unit Direct materials 3 lb, at 55 per lb $ 15.00 Direct manufacturing labor 5 hrs, at $15 per hr 75.00 Manufacturing overhead: Variable S6...
X Data Table 1 Standard Cost Information Quantity Cost 0.15 per part Direct Materials 2 parts 0.02 hours Direct Labor 9.00 per hour Variable Manufacturing Overhead 0.02 hours 9.00 per hour Fixed Manufacturing Overhead ($31,360 for static budget volume of 98,000 units and 1,960 hours, or $16 per hour) Actual Cost Information $ 0.20 per part) $ 42,200 (211,000 parts@ Direct Materials $ 9.15 per hour) Direct Labor (1,660 hours@ 15,189 Variable Manufacturing Overhead 10,000 Fixed Manufacturing Overhead 30,000 Print...
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor Indirect materials Utilities $1.30 0.70 0.40 Fixed overhead costs per month are Supervision $4,500, Depreciation $1,000, and Property Taxes $700. The company believes it will normally operate in a range of 6,300-11,100 direct labor hours per month. Assume that in July 2020, Myers Company incurs the following manufacturing overhead costs. Variable Costs Fixed...
department's static budget and actual results for 2019 follow: Production in units Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing cost Static Budget 30,000 kits $ 234,000 204,000 45,000 483,000 214,000 $697,000 Actual Results 31,600 kits $ 283,880 208,580 51,100 543,560 209,800 $ 753,360 Required a. Convert the static budget into a flexible budget. b. Calculate the variances. Complete this question by entering your answers in the tabs below. Required A Required B...
need help with the journal
Materials Direct Materials Price Variance Direct materials (5 lbs. @ $2.60) Accounts Payable $13.00 Work in Process Direct labor (0.75 hr. @ $18.00) 13.50 Direct Materials Usage Variance Materials Fixed overhead (0.75 hr. @ $4.00) 3.00 Variable overhead (0.75 hr. @ $3.00) 2.25 Work in Process Direct Labor Efficiency Variance Direct Labor Rate Variance Wages Payable Standard cost per unit $31.75 Work in Process Variable Overhead Control Fixed Overhead Control Algers computes its overhead rates...
Consider the following data collected for Country Homes, Inc.: Direct Direct Materials Manufacturing Labor $ 204,000 Costs incurred: Actual inputs x actual prices $ 93,000 207,000 Actual inputs x standard prices 87,000 Standard inputs allowed for actual output x standard prices 217,000 82,000 Requirement 1. Compute the price, efficiency, and flexible-budget variances for direct materials and direct manufacturing labor. Begin by computing the price, efficiency, and flexible-budget variances for direct materials. (Label each variance as favorable (F) or unfavorable (U).)...
Smith Recliners manufactures leather recliners and uses flexible budgeting and a standard cost system. Smith allocates overhead based on yards of direct materials. The company's performance report includes the following selected data: (Click the icon to view the selected data.) Read the requirements Requirement 1. Prepare a flexible budget based on the actual number of recliners sold. (Round budget amounts per unit to the nearest cent.) 980 Smith Recliners Flexible Budget Budget Amounts per Unit Actual Units (Recliners) Sales Revenue...
Flandro Company uses a standard cost system and sets its predetermined overhead rate on the basis of direct labor-hours. The following data are taken from the company's planning budget for the current year: Denominator activity (direct labor-hours) Variable manufacturing overhead coat Fixed manufacturing overhead coat $ 4,250 The standard cost card for the company's only product is given below. Standard Inputs Direct materials Direct labor Mutacturing overhead Total standard cost per Standard Quantity Dr Hours yards 2 hours 2 hour...
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