Bullseye Company manufactures dartboards. Its standard cost information follows:Standard Price(Rate)StandardQuantity2.50 sq. ft.1 hrs.$2.90 per sq. ft.$11.00 per hr.$ 0.40 per hr.Direct materials (cork board)Direct laborVariable manufacturing overhead(based on direct labor hours)Fixed manufacturing overhead($68,250+ 195,000 units)Bullseye has the following actual results for the month of September:Number of units produced and soldNumber of square feet of corkboard usedCost of corkboard usedNumber of labor hours workedDirect labor costVariable overhead costFixed overhead costRequired 1 Required 2Required 3.1 hrs.Complete this question by entering your answers in the tabs below.Direct Materials Price VarianceDirect Materials Quantity VarianceDirect Materials Spending VarianceRequired:1. Calculate the direct materials price, quantity, and total spending variances for Bullseye.2. Calculate the direct labor rate, efficiency, and total spending variances for Bullseye.3. Calculate the variable overhead rate, efficiency, and total spending variances for Bullseye.Direct Labor Rate VarianceDirect Labor Efficiency VarianceDirect Labor Spending Variance< Required 1175,000450,000$1,350,000185,000$1,868,500Required 3$$Calculate the direct materials price, quantity, and total spending variances for Bullseye. (Do not round your intermediatecalculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect(i.e., zero variance).)76,00059,000Complete this question by entering your answers in the tabs below.Variable Overhead Rate VarianceVariable Overhead Efficiency VarianceVariable Overhead Spending Variance< Required 1Required 2 >Required 1 Required 2Calculate the direct labor rate, efficiency, and total spending variances for Bullseye. (Do not round your intermediatecalculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect(i.e., zero variance).)< Required 2Complete this question by entering your answers in the tabs below.StandardUnit Cost$7.2511.00Required 3 >0.400.35Required 1 Required 2 Required 3Calculate the variable overhead rate, efficiency, and total spending variances for Bullseye. (Do not round your intermediatecalculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect(i.e., zero variance).)Required 3 >

Cost accounting refers to the set of the procedures which is systematic in manner for reporting as…

Bullseye Company manufactures dartboards. Its standard cost information follows: Standard Price (Rate) Standard Quantity 2.50 sq. ft. 1 hrs. $ 2.90 per sq. ft. $11.00 per hr. $ 0.40 per hr. Direct materials (cork board) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($68,250+ 195,000 units) 1 hrs. Bullseye has the following actual results for the month of September: Number of units produced and sold Number of square feet of corkboard used 175,000 450.000 Standard Unit Cost $ 7.25 11.00 0.40 0.35

Bullseye Company manufactures dartboards. Its standard cost information follows: Standard Price (Rate) Standard Quantity 2.50 sq. ft. 1 hrs. $ 2.90 per sq. ft. $11.00 per hr. $ 0.40 per hr. Direct materials (cork board) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($68,250+ 195,000 units) 1 hrs. Bullseye has the following actual results for the month of September: Number of units produced and sold Number of square feet of corkboard used 175,000 450.000 Standard Unit Cost $ 7.25 11.00 0.40 0.35

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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