! Required information [The following information applies to the questions displayed below.] Stanley manufactures and sells insulated cups and mugs. The static budget was prepared before an unexpected, viral marketing campaign driven by spontaneous endorsements by online influencers. As a result of this campaign, sales, and therefore production sky-rocketed. Importantly, during the year, purchasing managers renegotiated some materials costs during the year, HR negotiated a higher wage for workers who were now working in higher pressure conditions, and the organization leased new facilities for production and inventory. Units produced and sold Sales price Direct materials required Standard Metal barrel (interior) (1) External coating (1) Plastic cap (1)" Actual 1,000,000 $ 30.00 Units produced and sold Sales price 20,000,000 $ 35.00 Direct materials purchased (total) $ 3.00 $ 2.00 $ 2.00 $ 1.00 $ 0.50 $ 0.45 $ 0.05 • Straw (1) $ 0.05 Total direct materials required per unit Direct labor hours $ 5.55 $ 3.50 10,000 | 200,000 Direct labor rate per hour $ 9.50 Variable manufacturing overhead per DL hour $ 1.50 hour $ 10.50 $ 0.08 Fixed costs $ 75,000 Fixed costs $ 120,000 Straw (1) Metal barrel (interior) (1) External coating (1) Plastic cap (1) Total direct materials required per unit Direct labor hours Direct labor rate per hour Variable manufacturing overhead per DL Required: a. Prepare a static budget to actual comparison. Note: Select None if there is no variance.
! Required information [The following information applies to the questions displayed below.] Stanley manufactures and sells insulated cups and mugs. The static budget was prepared before an unexpected, viral marketing campaign driven by spontaneous endorsements by online influencers. As a result of this campaign, sales, and therefore production sky-rocketed. Importantly, during the year, purchasing managers renegotiated some materials costs during the year, HR negotiated a higher wage for workers who were now working in higher pressure conditions, and the organization leased new facilities for production and inventory. Units produced and sold Sales price Direct materials required Standard Metal barrel (interior) (1) External coating (1) Plastic cap (1)" Actual 1,000,000 $ 30.00 Units produced and sold Sales price 20,000,000 $ 35.00 Direct materials purchased (total) $ 3.00 $ 2.00 $ 2.00 $ 1.00 $ 0.50 $ 0.45 $ 0.05 • Straw (1) $ 0.05 Total direct materials required per unit Direct labor hours $ 5.55 $ 3.50 10,000 | 200,000 Direct labor rate per hour $ 9.50 Variable manufacturing overhead per DL hour $ 1.50 hour $ 10.50 $ 0.08 Fixed costs $ 75,000 Fixed costs $ 120,000 Straw (1) Metal barrel (interior) (1) External coating (1) Plastic cap (1) Total direct materials required per unit Direct labor hours Direct labor rate per hour Variable manufacturing overhead per DL Required: a. Prepare a static budget to actual comparison. Note: Select None if there is no variance.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Not use ai please
![!
Required information
[The following information applies to the questions displayed below.]
Stanley manufactures and sells insulated cups and mugs. The static budget was prepared before an unexpected, viral
marketing campaign driven by spontaneous endorsements by online influencers. As a result of this campaign, sales, and
therefore production sky-rocketed. Importantly, during the year, purchasing managers renegotiated some materials costs
during the year, HR negotiated a higher wage for workers who were now working in higher pressure conditions, and the
organization leased new facilities for production and inventory.
Units produced and sold
Sales price
Direct materials required
Standard
Metal barrel (interior) (1)
External coating (1)
Plastic cap (1)"
Actual
1,000,000
$ 30.00
Units produced and sold
Sales price
20,000,000
$ 35.00
Direct materials purchased (total)
$ 3.00
$ 2.00
$ 2.00
$ 1.00
$ 0.50
$ 0.45
$ 0.05
• Straw (1)
$ 0.05
Total direct materials required per unit
Direct labor hours
$ 5.55
$ 3.50
10,000
| 200,000
Direct labor rate per hour
$ 9.50
Variable manufacturing overhead per DL hour
$ 1.50
hour
$ 10.50
$ 0.08
Fixed costs
$ 75,000
Fixed costs
$ 120,000
Straw (1)
Metal barrel (interior) (1)
External coating (1)
Plastic cap (1)
Total direct materials required per unit
Direct labor hours
Direct labor rate per hour
Variable manufacturing overhead per DL
Required:
a. Prepare a static budget to actual comparison.
Note: Select None if there is no variance.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F98872045-c26c-42f8-a1c1-1fe3790d0408%2F9291f79b-eea8-4144-b7c3-0972f1117402%2F9xa1hn1_processed.jpeg&w=3840&q=75)
Transcribed Image Text:!
Required information
[The following information applies to the questions displayed below.]
Stanley manufactures and sells insulated cups and mugs. The static budget was prepared before an unexpected, viral
marketing campaign driven by spontaneous endorsements by online influencers. As a result of this campaign, sales, and
therefore production sky-rocketed. Importantly, during the year, purchasing managers renegotiated some materials costs
during the year, HR negotiated a higher wage for workers who were now working in higher pressure conditions, and the
organization leased new facilities for production and inventory.
Units produced and sold
Sales price
Direct materials required
Standard
Metal barrel (interior) (1)
External coating (1)
Plastic cap (1)"
Actual
1,000,000
$ 30.00
Units produced and sold
Sales price
20,000,000
$ 35.00
Direct materials purchased (total)
$ 3.00
$ 2.00
$ 2.00
$ 1.00
$ 0.50
$ 0.45
$ 0.05
• Straw (1)
$ 0.05
Total direct materials required per unit
Direct labor hours
$ 5.55
$ 3.50
10,000
| 200,000
Direct labor rate per hour
$ 9.50
Variable manufacturing overhead per DL hour
$ 1.50
hour
$ 10.50
$ 0.08
Fixed costs
$ 75,000
Fixed costs
$ 120,000
Straw (1)
Metal barrel (interior) (1)
External coating (1)
Plastic cap (1)
Total direct materials required per unit
Direct labor hours
Direct labor rate per hour
Variable manufacturing overhead per DL
Required:
a. Prepare a static budget to actual comparison.
Note: Select None if there is no variance.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education