Direct materials Direct labor Variable manufacturing overhead (Based on DL hours) Fixed manufacturing overhead ($250,000/100,000 units) Actual results for the year: Number of units produced and sold Number of pounds of clay used Cost of Clay Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead ($250,000/100,000 units) Actual ( units) $ Standard. Quantity 1.5 lbs. 1.5 hrs. 1.5 hrs. $ 267,300 2,025,000 200,000 270,000 2,762,300 Standard Price (Rate) $1.60 per lb. $12.00 per hr. $1.20 per hr. Spending Variance Standard Unit Cost $ $ $ $ $ 2.40 18.00 1.80 2.50 24.70 110,000 178,200 $ 267,300 150,000 $ 2,025,000 $ 200,000 $ 270,000 For U Flexible units) Master ( units)

Direct materials Direct labor Variable manufacturing overhead (Based on DL hours) Fixed manufacturing overhead ($250,000/100,000 units) Actual results for the year: Number of units produced and sold Number of pounds of clay used Cost of Clay Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead ($250,000/100,000 units) Actual ( units) $ Standard. Quantity 1.5 lbs. 1.5 hrs. 1.5 hrs. $ 267,300 2,025,000 200,000 270,000 2,762,300 Standard Price (Rate) $1.60 per lb. $12.00 per hr. $1.20 per hr. Spending Variance Standard Unit Cost $ $ $ $ $ 2.40 18.00 1.80 2.50 24.70 110,000 178,200 $ 267,300 150,000 $ 2,025,000 $ 200,000 $ 270,000 For U Flexible units) Master ( units)

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Description: Would appreciate a really good explanation of all of the steps on how to fill this out :) Thanks Direct materialsDirect laborVariable manufacturing overhead (Based on DL hours)Fixed manufacturing overhead ($250,000/100,000 units)Actual results for th

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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