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int ences Mc draw Hall Walton Medical Equipment Company makes a blood pressure measuring kit. Jason McCoy is the production manager. The production department's static budget and actual results for Year 3 follow Production in units Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing cost Required a. Convert the static budget into a flexible budget b. Calculate the variances Static Budget 27,000 kits $170, 100 143,100 40,500 353,700 205,000 $556,700 Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs Complete this question by entering your answers in the tabs below. Variances Actual Results 29,600 kits Required A Required B Calculate the variances. (Indicate the effect of each variance by selecting for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance).) $224,300 151,400 46,600 < Required A 422,460 198,200 $620,660

int ences Mc draw Hall Walton Medical Equipment Company makes a blood pressure measuring kit. Jason McCoy is the production manager. The production department's static budget and actual results for Year 3 follow Production in units Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing cost Required a. Convert the static budget into a flexible budget b. Calculate the variances Static Budget 27,000 kits $170, 100 143,100 40,500 353,700 205,000 $556,700 Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs Complete this question by entering your answers in the tabs below. Variances Actual Results 29,600 kits Required A Required B Calculate the variances. (Indicate the effect of each variance by selecting for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance).) $224,300 151,400 46,600 < Required A 422,460 198,200 $620,660

FINANCIAL ACCOUNTING
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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int ences Mc draw Hill Walton Medical Equipment Company makes a blood pressure measuring kit. Jason McCoy is the production manager. The production department's static budget and actual results for Year 3 follow Production in units Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing cost Required a. Convert the static budget into a flexible budget b. Calculate the variances Static Budget 27,000 kits $170, 100 143,100 40,500 353,700 205,000 $556,700 Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs Complete this question by entering your answers in the tabs below. Variances Actual Results 29,600 kits Required A Required B Calculate the variances. (Indicate the effect of each variance by selecting for favorable, "U" for unfavorable, and "None" for no effect (.e., zero varlance).) $224,300 151,400 46,600 < Required A 422,460 198,200 $620,660
Transcribed Image Text:int ences Mc draw Hill Walton Medical Equipment Company makes a blood pressure measuring kit. Jason McCoy is the production manager. The production department's static budget and actual results for Year 3 follow Production in units Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing cost Required a. Convert the static budget into a flexible budget b. Calculate the variances Static Budget 27,000 kits $170, 100 143,100 40,500 353,700 205,000 $556,700 Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs Complete this question by entering your answers in the tabs below. Variances Actual Results 29,600 kits Required A Required B Calculate the variances. (Indicate the effect of each variance by selecting for favorable, "U" for unfavorable, and "None" for no effect (.e., zero varlance).) $224,300 151,400 46,600 < Required A 422,460 198,200 $620,660
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