Performance Report Bowling Company budgeted the following amounts: Variable costs of production: Direct materials 8 pounds @ $0.70 per pound Direct labor 0.4 hr. @ $16.50 per hour VOH 0.3 hr. @ $2.20 FOH: Materials handling $6,250 Depreciation $2,560 At the end of the year, Bowling had the following actual costs for production of 3,800 units: Direct materials $6,800 Direct labor 30,500 Variable overhead 4,200 Fixed overhead: Materials handling 6,300 Depreciation 2,560

Performance Report Bowling Company budgeted the following amounts: Variable costs of production: Direct materials 8 pounds @ $0.70 per pound Direct labor 0.4 hr. @ $16.50 per hour VOH 0.3 hr. @ $2.20 FOH: Materials handling $6,250 Depreciation $2,560 At the end of the year, Bowling had the following actual costs for production of 3,800 units: Direct materials $6,800 Direct labor 30,500 Variable overhead 4,200 Fixed overhead: Materials handling 6,300 Depreciation 2,560

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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he following data are given for Bahia Company: Budgeted production 1,032 units Actual production 954 units Materials: Standard price per pound $1.816 Standard pounds per completed unit 10 Actual pounds purchased and used in production 9,254 Actual price paid for materials $18,971 Labor: Standard hourly labor rate $14.44 per hour Standard hours allowed per completed unit 4.3 Actual labor hours worked 4,913.1 Actual total labor costs $74,925 Overhead: Actual and budgeted fixed overhead $1,062,000 Standard variable overhead rate $25.00 per standard labor hour Actual variable overhead costs $137,567 Overhead is applied on standard labor hours. The variable factory overhead controllable variance is a.$80,267.44 unfavorable b.$80,267.44 favorable c.$35,012.00 unfavorable d.$35,012.00 favorable
Merlyn Company has the following budgeted variable costs per unit produced: DIRECT MATRERIALS $5.50 direct labour 2.8 Variable overhead supplies 0.65 maitenance 0.25 power 0.17 Budgeted fixed overhead costs per month include supervision of $60,000, depreciation of $71,000, and other overhead of $175,000. Required: 1. Prepare a flexible budget for all costs of production for the following levels of production: 150,000 units, and 185,000 units.
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Subject: acounting
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