Standards Direct materials Direct labor Variable overhead (per direct labor-hour). Fixed overhead (per month) Expected activity (direct labor-hours) Actual results Direct material (purchased and used) Direct labor Variable overhead Fixed overhead Units produced (actual) Direct materials Direct labor Variable overhead Fixed overhead Price Variance F F K4 Required: a. Prepare a variance analysis for each variable cost for each product b. Prepare a fixed overhead variance analysis for each product. Note: For all requirements, Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. F КА -0.75 pounds at $8.00 per pound 1.25 hours at $26.00 per hour $21.20 $ 416,400 17,350 Efficiency Variance F F 10,300 pounds at $7.40 per pound 14,800 hours at $26.30 per hour $ 331,060 $ 386,740 12,200 units Production Volume Variance Price Variance F 1 pound at $8.60 per pound 1.50 hours at $30 per hour $ 23.00 $ 493,500 23,500 14,200 pounds at 18.90 per pound 22,300 hours at $32.60 per hour $464,212 $ 490,840 14,500 units Efficiency Variance X7 F F Production Volume Variance

Standards Direct materials Direct labor Variable overhead (per direct labor-hour). Fixed overhead (per month) Expected activity (direct labor-hours) Actual results Direct material (purchased and used) Direct labor Variable overhead Fixed overhead Units produced (actual) Direct materials Direct labor Variable overhead Fixed overhead Price Variance F F K4 Required: a. Prepare a variance analysis for each variable cost for each product b. Prepare a fixed overhead variance analysis for each product. Note: For all requirements, Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. F КА -0.75 pounds at $8.00 per pound 1.25 hours at $26.00 per hour $21.20 $ 416,400 17,350 Efficiency Variance F F 10,300 pounds at $7.40 per pound 14,800 hours at $26.30 per hour $ 331,060 $ 386,740 12,200 units Production Volume Variance Price Variance F 1 pound at $8.60 per pound 1.50 hours at $30 per hour $ 23.00 $ 493,500 23,500 14,200 pounds at 18.90 per pound 22,300 hours at $32.60 per hour $464,212 $ 490,840 14,500 units Efficiency Variance X7 F F Production Volume Variance

Name: Robinwood Fixtures manufactures two products, K4 and X7. The company
Uploaded: 2024-03-20T06:33:06.000Z
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Description: Robinwood Fixtures manufactures two products, K4 and X7. The company prepares its master budget on the basis of standard costs.The following data are for September:StandardsDirect materialsDirect labor,Variable overhead (per direct labor-hour)Fixed

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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