KJuda Recliners manufactures leather recliners and uses flexible budgeting and a standard cost system. Judaallocates overhead based on yards of direct materials. The company's performance report includes the followingselected data:Data tableSalesStatic Budget(1,025 recliners)Actual Results(1,005 recliners)(1,025 recliners x $515 each)(1.005 recliners x $480 each)S527,875S482,400Variable Manufacturing Costs:Direct Materials(6.150 yds. @ $8.907 yd.)(6,300 yds. @ $8.70/yd.)54.73554,810Direct Labor(10,250 DLHr @ $11.30 / DLHr)(9,850 DLHr @ $11.40/DLHr)115,825112:290Variable Overhead (6,150 yds @ $5.10/yd.)31,365(6,300 yds. @ $6.50 / yd.)40,950Fixed Manufacturing Costs:Fixed OverheadTotal Cost of Goods SoldGross ProfitX62,73064,7300264,655272,780$263,220 $209.620Us allocates overhead based on yards of direct materials. The company's performance report includes the followingRequirement 1. Prepare a flexible budget based on the actual number of recliners sold. (Round budget amountsper unit to the nearest cent.)Juda ReclinersFlexible BudgetBudgetAmountsper UnitActual Units (Recliners)Sales RevenueVariable Manufacturing Costs:Direct MaterialsDirect LaborVariable OverheadFixed Manufacturing Costs:Fixed OverheadTotal Cost of Goods SoldGross Profit

FLEXIBLE BUDGETA flexible budget is a budget that is prepared for different levels of activity or…

allocates overhead based on yards of direct materials. The company's performance report includes the following Requirement 1. Prepare a flexible budget based on the actual number of recliners sold. (Round budget amounts per unit to the nearest cent.) Juda Recliners Flexible Budget Budget Amounts per Unit Actual Units (Recliners) Sales Revenue Variable Manufacturing Costs: Direct Materials Direct Labor Variable Overhead Fixed Manufacturing Costs: Fixed Overhead Total Cost of Goods Sold Gross Profit

allocates overhead based on yards of direct materials. The company's performance report includes the following Requirement 1. Prepare a flexible budget based on the actual number of recliners sold. (Round budget amounts per unit to the nearest cent.) Juda Recliners Flexible Budget Budget Amounts per Unit Actual Units (Recliners) Sales Revenue Variable Manufacturing Costs: Direct Materials Direct Labor Variable Overhead Fixed Manufacturing Costs: Fixed Overhead Total Cost of Goods Sold Gross Profit

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

The controller at Wesson Company's manufacturing plant has provided you with the following information for the first quarter's operations: Direct materials Fixed manufacturing overhead costs Sales price Variable manufacturing overhead Direct labor Fixed marketing and administrative costs Units produced and sold during the quarter Variable marketing and administrative costs Required: a. Determine the variable cost per unit. b. Determine the variable manufacturing cost per unit. c. Determine the full absorption cost per unit. d. Determine the full cost per unit. e. Determine the profit margin per unit. f. Determine the gross margin per unit. g. Determine the contribution margin per unit. Note: Round your answer to 2 decimal places. a. Variable cost per unit b. Variable manufacturing cost per unit c. Full absorption cost per unit d. Full cost per unit e. Profit margin per unit f. Gross margin per unit g. Contribution margin per unit $ 116 per unit $ 2,540,000 $ 525 per unit $57 per unit…
Please do not Give solution in image format
Please help me with all answers I will give upvote thanku
manufacturer of industrial equipment has a standard costing system based on standard direct labor-hours (DLHs) as the measure of activity. Data from the company's flexible budget for manufacturin overhead are given below: Level of activity Overhead costs at the denominator activity level: Variable overhead cost Fixed overhead cost The following data pertain to operations for the most recent period: Actual hours Standard hours allowed for the actual output Actual total variable manufacturing overhead cost Actual total fixed manufacturing overhead cost 2,550 DLHs $ 8,600 $ 35,125 2,700 DLHs 2,597 DLHs $ 9,200 $ 35,525 How much overhead was applied to products during the period to the nearest dollar? Note: Do not round Intermediate calculations. Multiple Cholce $44.125 $43.725 $44.725 $44.531 $44.725
Please do not give solution in image format thanku
Please help me. Thankyou.
Refer to the pictur ebelow: Find: 1. Total Cost of Product A under ABC System2. Total Cost of Product B under ABC System3. Selling Price per unit of Product B assuming profit margin of 20% above cost
The following information is available for the Danske Company: Denominator hours for May Actual hours worked during May Standard hours allowed for May Flexible budget fixed overhead cost Actual fixed overhead costs for May Danske Company had total underapplied overhead of $20,000. Additional information is as follows: Variable Overhead: Applied based on standard direct labor-hours allowed Budgeted based on standard direct labor-hours Fixed Overhead: Applied based on standard direct labor-hours allowed Budgeted based on standard dinect labon-hours $ 52,000 43,000 $ 40,000 32,000 What is the fixed overhead price (spending) variance for May? Multiple Choice $4,000 unfavorable 94.100 unfavorable
Subject - account Please help me. Thankyou.
Mi.2
Presented below is a flexible manufacturing overhead budget for Ayayai Manufacturing, which manufactures fine timepieces: ✓ Activity Index: Standard direct labor hours 2,820 3,220 3,620 4,020 Variable costs Indirect materials $ 5,640 $ 6,440 $ 7,240 $ 8,040 Indirect labor 3,243 3,703 4,163 4,623 Utilities 7,332 8,372 9,412 10,452 Total variable 16,215 18,515 20,815 23,115 Fixed costs Supervisory salaries 1,210 1,210 1,210 1,210 Rent 2,815 2,815 2,815 2,815 Total fixed 4,025 4,025 4,025 4,025 Total costs $ 20,240 $ 22,540 $ 24,840 $ 27,140 The company applies the overhead on the basis of direct labor hours at $7.00 per direct labor hour and the standard hours per timepiece is 1/2 hour each. The company's actual production was 5,440 timepieces with 2,720 actual hours of direct labor. Normal capacity is 3,220 hours. Actual overhead was $20,400. (a) Compute the controllable and volume overhead variances. Identify whether each variance is favorable or unfavorable. (Round rate values to 2…
Need help with the Manufacturing Overhead budget and Operating Expenses budget. I included what i have so far.