During the month of March, Baker's Express purchased 10,000 pounds of flour at $1 per pound.At the end of March, Baker's Express found that it had a favorable materials price variance of$500. The standard cost per pound must be *O SLOSO 1.00$1.05O0.5Budgeted variable overhead for the year is $120,000. Expected activity is 20,000 standard directlabor hours. The actual hours worked were 18,000 and the standard hours allowed for actualproduction were 19,500. The variable overhead efficiency variance is$3.000O 2000Nore of these1,000ROOOC

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Answered: During the month of March, Baker's…

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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Yosko Company expects to produce 2,070 units in January that will require 4,140 hours of direct labor and 2,230 units in February that will require 4,460 hours of direct labor. Yosko Company budgets $6 per unit for variable manufacturing overhead; $2,100 per month for depreciation; and $10,800 per month for other fixed manufacturing overhead costs. Prepare Yosko Company's manufacturing overhead budget for January and February, including the predetermined overhead allocation rate using direct labor hours as the allocation base. (Abbreviations used: VOH = variable manufacturing overhead; FOH = fixed manufacturing overhead.) VOH cost per unit Yosko Company Manufacturing Overhead Budget Two Month Ended January 31 and February 28 Budgeted VOH Budgeted FOH Depreciation Other FOH costs Total budgeted FOH Budgeted manufacturing overhead costs Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation rate January February Total
The total factory overhead for Big Light Company is budgeted for the year at $880,320. Big Light manufactures two different products: night lights and desk lamps. Night lights are budgeted for 22,600 units. Each night light requires 3 hours of direct labor. Desk lamps are budgeted for 18,500 units. Each desk lamp requires 2 hours of direct labor. a. Determine the total number of budgeted direct labor hours for the year.fill in the blank 1 of 1 direct labor hours b. Determine the single plantwide factory overhead rate using direct labor hours as the allocation base. Round your answer to two decimal places.fill in the blank 1 of 1$ per direct labor hour c. Determine the factory overhead allocated per unit for each product using the single plantwide factory overhead rate determined in (b). Round your answers to two decimal places.Night lights fill in the blank 1 of 1$ per unitDesk lamps fill in the blank 1 of 1$ per unit
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During the month of March, Baker's Express purchased 10,000 pounds of flour at $1 per pound. At the end of March, Baker's Express found that it had a favorable materials price variance of $500. The standard cost per pound must be: a. $1.95. b. $1.05. c. $0.95. d. $1.00.
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The following data pertains to the month of October for Elm. Co. when production was budgeted to be 5,000 units of P90. P90 has standard costs per unit of: 3 lbs of Direct Materials at a cost of $7.00 per lb; .20 hours of Direct Labor at $18.00 per hour, and variable overhead assigned on the basis of 0.05 machine hours at a rate of $50 per machine hour. Actual production of P90 for October was 4,600 units, using 15,100 lbs of material costing a total of $107,778. A. Determine the direct materials quantity variance. (negative numbers indicate a favorable variance)

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