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Steven Roberts is a cost accountant and business analyst for Dapper Design Company (DDC), which manufactures expensive brass doorknobs. DDC uses two direct-cost categories: direct materials and direct manufacturing labor. Roberts feels that manufacturing overhead is most closely related to material usage. Therefore, DDC allocates manufacturing overhead to production based upon pounds of materials used. E (Click the icon to view the standards.) E (Click the icon to view the actual results for April.) Read the requirements Requirement 1. For the month of April, compute the variances, indicating whether each is favor i Data Table - X A Data Table - X Before computing the variances complete the tables below. Begin by completing the table for dir Actual Input Qty. x Budgeted Price At the beginning of 2017, DDC budgeted annual production of 450,000 doorknobs and adopted the following standards for each doorknob: Actual results for April 2017 were as follows: Actual Costs Incurred Flexible Purchases Usage Budget Production 28,000 doorknobs Input Cost/Doorknob Direct materials Direct materials purchased 12,200 Ib. at $12/lb. Direct materials (brass) 0.3 Ib. @ $11/lb. 3.30 Direct materials used 7,500 Ibs. Direct manufacturing labor 1.2 hours @ $19/hour 22.80 Direct manufacturing labor 29,500 hours for $649,000 Variable manufacturing overhead $6/lb x 0.3 lb. 1.80 Variable manufacturing overhead $64,200 4 20 Fixed manufacturing overhead $161,000 Fixed manufacturing overhead $14/lb. x 0.3 lb. 32.10 Standard cost per doorknob Print Done Print Done

Steven Roberts is a cost accountant and business analyst for Dapper Design Company (DDC), which manufactures expensive brass doorknobs. DDC uses two direct-cost categories: direct materials and direct manufacturing labor. Roberts feels that manufacturing overhead is most closely related to material usage. Therefore, DDC allocates manufacturing overhead to production based upon pounds of materials used. E (Click the icon to view the standards.) E (Click the icon to view the actual results for April.) Read the requirements Requirement 1. For the month of April, compute the variances, indicating whether each is favor i Data Table - X A Data Table - X Before computing the variances complete the tables below. Begin by completing the table for dir Actual Input Qty. x Budgeted Price At the beginning of 2017, DDC budgeted annual production of 450,000 doorknobs and adopted the following standards for each doorknob: Actual results for April 2017 were as follows: Actual Costs Incurred Flexible Purchases Usage Budget Production 28,000 doorknobs Input Cost/Doorknob Direct materials Direct materials purchased 12,200 Ib. at $12/lb. Direct materials (brass) 0.3 Ib. @ $11/lb. 3.30 Direct materials used 7,500 Ibs. Direct manufacturing labor 1.2 hours @ $19/hour 22.80 Direct manufacturing labor 29,500 hours for $649,000 Variable manufacturing overhead $6/lb x 0.3 lb. 1.80 Variable manufacturing overhead $64,200 4 20 Fixed manufacturing overhead $161,000 Fixed manufacturing overhead $14/lb. x 0.3 lb. 32.10 Standard cost per doorknob Print Done Print Done

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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E8-34 (similar to) Question Help Steven Roberts is a cost accountant and business analyst for Dapper Design Company (DDC), which manufactures expensive brass doorknobs. DDC uses two direct-cost categories: direct materials and direct manufacturing labor. Roberts feels that manufacturing overhead is most closely related to material usage. Therefore, DDC allocates manufacturing overhead to production based upon pounds of materials used. E (Click the icon to view the standards.) E (Click the icon to view the actual results for April.) Read the requirements. Requirement 1. For the month of April, compute the variances, indicating whether each is favor Data Table Data Table Before computing the variances complete the tables below. Begin by completing the table for dir Actual Input Qty. × Budgeted Price At the beginning of 2017, DDC budgeted annual production of 450,000 doorknobs and adopted the following standards for each doorknob: Actual results for April 2017 were as follows: Flexible Budget Actual Costs Incurred Purchases Usage Production 28,000 doorknobs Input Cost/Doorknob Direct materials Direct materials purchased 12,200 lb. at $12/lb Direct materials (brass) 0.3 lb. @ $11/Ib. 3.30 Direct materials used 7,500 lbs. Direct manufacturing labor 1.2 hours @ $19/hour 22.80 Direct manufacturing labor 29,500 hours for $649,000 Variable manufacturing overhead $6/lb x 0.3 lb. 1.80 Variable manufacturing overhead $64,200 Fixed manufacturing overhead $14/lb. x 0.3 lb. 4.20 Fixed manufacturing overhead $161,000 $ 32.10 Standard cost per doorknob Print Done Print Done Enter any number in the edit fields and then click Check Answer. ?
Transcribed Image Text:E8-34 (similar to) Question Help Steven Roberts is a cost accountant and business analyst for Dapper Design Company (DDC), which manufactures expensive brass doorknobs. DDC uses two direct-cost categories: direct materials and direct manufacturing labor. Roberts feels that manufacturing overhead is most closely related to material usage. Therefore, DDC allocates manufacturing overhead to production based upon pounds of materials used. E (Click the icon to view the standards.) E (Click the icon to view the actual results for April.) Read the requirements. Requirement 1. For the month of April, compute the variances, indicating whether each is favor Data Table Data Table Before computing the variances complete the tables below. Begin by completing the table for dir Actual Input Qty. × Budgeted Price At the beginning of 2017, DDC budgeted annual production of 450,000 doorknobs and adopted the following standards for each doorknob: Actual results for April 2017 were as follows: Flexible Budget Actual Costs Incurred Purchases Usage Production 28,000 doorknobs Input Cost/Doorknob Direct materials Direct materials purchased 12,200 lb. at $12/lb Direct materials (brass) 0.3 lb. @ $11/Ib. 3.30 Direct materials used 7,500 lbs. Direct manufacturing labor 1.2 hours @ $19/hour 22.80 Direct manufacturing labor 29,500 hours for $649,000 Variable manufacturing overhead $6/lb x 0.3 lb. 1.80 Variable manufacturing overhead $64,200 Fixed manufacturing overhead $14/lb. x 0.3 lb. 4.20 Fixed manufacturing overhead $161,000 $ 32.10 Standard cost per doorknob Print Done Print Done Enter any number in the edit fields and then click Check Answer. ?
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