Required:Gleason Guitars produces acoustic guitars. The table below contains budget and actual information for the month of June:Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zerovariance).Direct MaterialDirect LaborVariable OverheadFixed OverheadTotal Manufacturing CostsActual Costs285 units$$16,10026,8008,85012,10063,850SpendingVarianceFlexibleBudget285 unitsVolumeVarianceMaster Budget200 units$$14,60022,6008,60011,30057,100

Name: Required:Gleason Guitars produces acoustic guitars. The table below c
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Description: Required:Gleason Guitars produces acoustic guitars. The table below contains budget and actual information for the month of June:Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect

Business

Accounting

Required: Gleason Guitars produces acoustic guitars. The table below contains budget and actual information for the month of June: Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., ze variance). Direct Material Direct Labor Variable Overhead Fixed Overhead Total Manufacturing Costs Actual Costs 285 units $ $ 16,100 26,800 8,850 12,100 63,850 Spending Variance Flexible Budget 285 units Volume Variance Master Budget 200 units $ $ 14,600 22,600 8,600 11,300 57,100

Required: Gleason Guitars produces acoustic guitars. The table below contains budget and actual information for the month of June: Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., ze variance). Direct Material Direct Labor Variable Overhead Fixed Overhead Total Manufacturing Costs Actual Costs 285 units $ $ 16,100 26,800 8,850 12,100 63,850 Spending Variance Flexible Budget 285 units Volume Variance Master Budget 200 units $ $ 14,600 22,600 8,600 11,300 57,100

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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Gleason Guitars produces acoustic guitars. The table below contains budget and actual information for the month of June: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Direct Material Direct Labor Variable Overhead Fixed Overhead Total Manufacturing Costs Actual Costs 385 units $ $ 17,100 27,800 9,850 13,100 67,850 Spending Variance Flexible Budget 385 units Volume Variance Master Budget 200 units $ $ 15,600 23,600 9,600 11,800 60,600
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Gleason Guitars produces acoustic guitars. The table below contains budget and actual information for the month of June: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Actual Costs 525 units Spending Variance Flexible Budget 525 units Volume Variance Master Budget 200 units Direct Material 18,500 17,000 Direct Labor 29,200 - 25,000 Variable Overhead 11,250 11,000 Fixed Overhead 14,500 12,500 Total Manufacturing Costs 73,450 65,500