Homework Answers
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Budget variance for sales = Actual sales - Budgeted sales = 687,000 - 655,000 = 32,000 F Comment if you face any issues |
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The Manchester Corporation manufactures wooden pictures frames and reported the following information related to the production...
The Manchester Corporation manufactures wooden pictures frames. In order to better manage costs, the Manchester Corporation...
The Manchester Corporation manufactures wooden pictures frames. In order to better manage costs, the Manchester Corporation had previously developed the following standards for the manufacture of its product: Each unit should have 3/4 of a pound of direct materials purchased at $12 per pound. Each unit should be produced in 48 minutes at a direct labor cost of $16 per hour. The company had the following detailed retails: Actual production was 20,000 units using 14,600 pounds of direct materials at...
please help oncepts that were previously covered in class. You get three attempts and your highest...
please help
oncepts that were previously covered in class. You get three attempts and your highest score wi The Manchester Corporation manufactures wooden pictures frames. In order to better manage costs, the had previously developed the following standards for the manufacture of its product: Manchester Corporation . Each unit should have 3/4 of a pound of direct materials purchased at $12 per pound. . Each unit should be produced in 48 minutes at a direct labor cost of $16 per...
Use the following information to answer the next three questions Bill's Furniture Corporation produces furniture, it...
Use the following information to answer the next three questions Bill's Furniture Corporation produces furniture, it expects that the cost of direct materials per unit will amount to $34.00. Bill's Furniture Corporation expected to produce 2,200 pieces of furniture last month: however, actual production totaled 2.400 pieces of furniture. The actual cost of direct materials per unit amounted to S41.00 1. What is the master (static) budget variance for direct materials? Indicate whether the variance is favorable or unfavorable. What...
Use the following information to answer the next three questions Bill's Furniture Corporation produces furniture, it...
Use the following information to answer the next three questions Bill's Furniture Corporation produces furniture, it expects that the cost of direct materials per unit will amount to $34.00. Bill's Furniture Corporation expected to produce 2,200 pieces of furniture last month: however, actual production totaled 2.400 pieces of furniture. The actual cost of direct materials per unit amounted to S41.00 1. What is the master (static) budget variance for direct materials? Indicate whether the variance is favorable or unfavorable. What...
Problem 10 (10 points) The Sarasota Corporation manufactures two types of vacuum cleaners, the Victor for nmercial b...
Problem 10 (10 points) The Sarasota Corporation manufactures two types of vacuum cleaners, the Victor for nmercial building use and the House-Mate for residences. Budgeted and actual operating data for the year 2012 were as follows Static Budget Number sold Contribution margin Total House Mate 20,000 $3,000,000 $4,500,000 Victor 25,000 5,000 $1,500,000 Actual Results umber sold Contribution margin Victor Total 32,000 $3,920,000 $5,200,000 House-Mate 4,000 $1,280,000 What is the contribution margin for the flexible budget? A) $1,200,000 B) $4,200,000 C)...
Required information [The following information applies to the questions displayed below.] Preble Company manufactures one product....
Required information [The following information applies to the questions displayed below.] Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct material: 5 pounds at $8.00 per pound $ 40.00 Direct labor: 3 hours at $15 per hour 45.00 Variable overhead: 3 hours at $9 per hour 27.00 Total standard variable cost per unit $ 112.00 The company also established the following...
number one below number two below(please answer all parts) Gates Corporation reported the following information concerning...
number one below
number two below(please answer all parts)
Gates Corporation reported the following information concerning its direct materials Direct materials purchased (actual) Standard cost of materials purchased Standard price times actual amount of materials used Actual production Standard direct materials costs per unit produced $ 673,000 $ 688,000 5400000 22 000 units $ 20 Required: Compute the direct materials cost variances (indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is...
Maple Leaf Production manufactures truck tires. The following information is available for the last operating period....
Maple Leaf Production manufactures truck tires. The following
information is available for the last operating period.
Maple Leaf produced and sold 95,000 tires for $45 each.
Budgeted production was 99,000 tires.
Standard variable costs per tire follow.
Direct materials: 4 pounds at $2.00
$
8.00
Direct labor: 0.40 hours at $18.50
7.40
Variable production overhead: 0.25 machine-hours at $14 per
hour
3.50
Total variable costs
$
18.90
Fixed production overhead costs:
Monthly budget $1,400,000
Fixed overhead is applied at the...
Required information [The following information applies to the questions displayed below.] Preble Company manufactures one product....
Required information [The following information applies to the questions displayed below.] Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: Direct materials: 5 kg at $9.00 per kg $ 45.00 Direct labour: 3 hours at $14 per hour 42.00 Variable overhead: 3 hours at $8 per hour 24.00 Total standard cost per unit $ 111.00 The company planned to produce and sell 28,000...
Maple Leaf Production manufactures truck tires. The following information is available for the last operating period....
Maple Leaf Production manufactures truck tires. The following information is available for the last operating period. Maple Leaf produced and sold 90,000 tires for $46 each. Budgeted production was 94,000 tires. Standard variable costs per tire follow: Direct materials: 4 pounds at $3.00 $ 12.00 Direct labor: 0.55 hours at $19.00 10.45 Variable production overhead: 0.23 machine-hours at $15 per hour 3.45 Total variable costs $ 25.90 Fixed production overhead costs: Monthly budget $1,380,000 Fixed overhead is applied at the...
please help
oncepts that were previously covered in class. You get three attempts and your highest score wi The Manchester Corporation manufactures wooden pictures frames. In order to better manage costs, the had previously developed the following standards for the manufacture of its product: Manchester Corporation . Each unit should have 3/4 of a pound of direct materials purchased at $12 per pound. . Each unit should be produced in 48 minutes at a direct labor cost of $16 per...
Use the following information to answer the next three questions Bill's Furniture Corporation produces furniture, it expects that the cost of direct materials per unit will amount to $34.00. Bill's Furniture Corporation expected to produce 2,200 pieces of furniture last month: however, actual production totaled 2.400 pieces of furniture. The actual cost of direct materials per unit amounted to S41.00 1. What is the master (static) budget variance for direct materials? Indicate whether the variance is favorable or unfavorable. What...
Use the following information to answer the next three questions Bill's Furniture Corporation produces furniture, it expects that the cost of direct materials per unit will amount to $34.00. Bill's Furniture Corporation expected to produce 2,200 pieces of furniture last month: however, actual production totaled 2.400 pieces of furniture. The actual cost of direct materials per unit amounted to S41.00 1. What is the master (static) budget variance for direct materials? Indicate whether the variance is favorable or unfavorable. What...
Problem 10 (10 points) The Sarasota Corporation manufactures two types of vacuum cleaners, the Victor for nmercial building use and the House-Mate for residences. Budgeted and actual operating data for the year 2012 were as follows Static Budget Number sold Contribution margin Total House Mate 20,000 $3,000,000 $4,500,000 Victor 25,000 5,000 $1,500,000 Actual Results umber sold Contribution margin Victor Total 32,000 $3,920,000 $5,200,000 House-Mate 4,000 $1,280,000 What is the contribution margin for the flexible budget? A) $1,200,000 B) $4,200,000 C)...
number one below
number two below(please answer all parts)
Gates Corporation reported the following information concerning its direct materials Direct materials purchased (actual) Standard cost of materials purchased Standard price times actual amount of materials used Actual production Standard direct materials costs per unit produced $ 673,000 $ 688,000 5400000 22 000 units $ 20 Required: Compute the direct materials cost variances (indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is...
Maple Leaf Production manufactures truck tires. The following
information is available for the last operating period.
Maple Leaf produced and sold 95,000 tires for $45 each.
Budgeted production was 99,000 tires.
Standard variable costs per tire follow.
Direct materials: 4 pounds at $2.00
$
8.00
Direct labor: 0.40 hours at $18.50
7.40
Variable production overhead: 0.25 machine-hours at $14 per
hour
3.50
Total variable costs
$
18.90
Fixed production overhead costs:
Monthly budget $1,400,000
Fixed overhead is applied at the...
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