--/1Question 14View PoliciesCurrent Attempt in ProgressAt 9,000 direct labor hours, the flexible budget for indirectmaterials is $27,000. If $28,000 of indirect materials costsare incurred at 9,200 direct labor hours, the flexible budgetreport should show the following difference for indirectmaterialsO $400 favorable.O $1,000 favorable.O $400 unfavorable.O $1,000 unfavorable.

A variance refers to the difference between the actual amount & budgeted amount of cost,…

Answered: --/1 Question 14 View Policies Current…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question 1 Not complete Direct material Direct labor Variable overhead Fixed overhead Total Using Flexible Budgets The following summary data are from a performance report for Sterling Company for May, during which 9,600 units were produced. The budget reflects the company's normal capacity of 10,000 units. Actual Cost Budget 9,600 10,000 units units $ $136,800 $140,000 $(3,200) Favorable Type Marked out of 6.25 Direct material $ Direct labor Variable overhead Fixed overhead Totals PFlag question $ Variances a. Prepare a new performance report using flexible budgeting. Round all amounts to the nearest dollar. Variance Actual Costs 277,200 280,000 (2,800) Favorable 98,400 96,000 2,400 Unfavorable 72,400 72,000 400 Unfavorable $584,800 $588,000 $(3,200) $ 0 $ Flexible Budget $ 0 $ $ b. Which of the two performance reports should Sterling Company management use to measure the company's operating efficiency in May? ◆ 0 Type ♦ + + ◆
Ss.245.
The fixed budget for 20,600 units of production shows sales of $473,800; variable costs of $61,800; and fixed costs of $141,000. If the company actually produces and sells 26,700 units, calculate the flexible budget income.
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Ch. 8 Total Budgeted Manufacturing Overhead Please solve and explain the following problem Edison's Corporation manufacturing overhead rate is $5.00 per direct labor hour. Budgeted Direct Labor cost is $20 per hour. Total budgeted fixed overhead is $25,000 per month. Total budgeted direct-labor hours for the month of July is 20,000. Total budgeted manufacturing overhead for July is??
Sh 11 Please help me. Thankyou.
--/1 Question 18 View Policies Current Attempt in Progress A company developed the following per unit materials standards for its product: 3 pounds of direct materials at $5 per pound. If 24000 units of product were produced last month and 73000 pounds of direct materials were used, the direct materials quantity variance was $5000 favorable. O $3000 unfavorable. $5000 unfavorable. O $3000 favorable. op 12 f11 f10 f9 f8 f7 f6 f5 8. 11 60 96 96

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