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The Boston Bread Company bakes baguettes for distribution to upscale grocery stores. The company has two direct-cost categories: direct materials and direct manufacturing labor. The Boston Bread Company allocates fixed manufacturing overhead to products on the basis of standard direct manufacturing labor-hours. For 2020, fixed manufacturing overhead was budgete at $4.00 per direct manufacturing labor-hour. Actual fixed manufacturing overhead incurred durin the year was $298,000. Requirement 1. Prepare a variance analysis of fixed manufacturing overhead cost. Begin by completing the table below for the fixed manufacturing overhead that will be used to cal Fixed MOH Actual Costs Incurred Same Budgeted Lump Sum Regardless of Output Level Flexible Budget Allocated Overhead

The Boston Bread Company bakes baguettes for distribution to upscale grocery stores. The company has two direct-cost categories: direct materials and direct manufacturing labor. The Boston Bread Company allocates fixed manufacturing overhead to products on the basis of standard direct manufacturing labor-hours. For 2020, fixed manufacturing overhead was budgete at $4.00 per direct manufacturing labor-hour. Actual fixed manufacturing overhead incurred durin the year was $298,000. Requirement 1. Prepare a variance analysis of fixed manufacturing overhead cost. Begin by completing the table below for the fixed manufacturing overhead that will be used to cal Fixed MOH Actual Costs Incurred Same Budgeted Lump Sum Regardless of Output Level Flexible Budget Allocated Overhead

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The Boston Bread Company bakes baguettes for distribution to upscale grocery stores. The company has two direct-cost categories: direct materials and direct manufacturing labor. The Boston Bread Company allocates fixed manufacturing overhead to products on the basis of standard direct manufacturing labor-hours. For 2020, fixed manufacturing overhead was budgeted at $4.00 per direct manufacturing labor-hour. Actual fixed manufacturing overhead incurred during the year was $298,000. Requirement 1. Prepare a variance analysis of fixed manufacturing overhead cost. Begin by completing the table below for the fixed manufacturing overhead that will be used to calcu Same Budgeted Lump Sum Regardless of Output Level Fixed MOH Actual Costs Incurred Flexible Budget *** Allocated Overhead
Transcribed Image Text:The Boston Bread Company bakes baguettes for distribution to upscale grocery stores. The company has two direct-cost categories: direct materials and direct manufacturing labor. The Boston Bread Company allocates fixed manufacturing overhead to products on the basis of standard direct manufacturing labor-hours. For 2020, fixed manufacturing overhead was budgeted at $4.00 per direct manufacturing labor-hour. Actual fixed manufacturing overhead incurred during the year was $298,000. Requirement 1. Prepare a variance analysis of fixed manufacturing overhead cost. Begin by completing the table below for the fixed manufacturing overhead that will be used to calcu Same Budgeted Lump Sum Regardless of Output Level Fixed MOH Actual Costs Incurred Flexible Budget *** Allocated Overhead
Data table Direct manufacturing labor use Variable manufacturing overhead Data table 0.02 hours per baguette $10.00 per direct manufacturing labor-hour Planned (budgeted) output Actual production Direct manufacturing labor Actual variable manufacturing overhead $628,230 2,900,000 baguettes 2,700,000 baguettes 48,700 hours - X
Transcribed Image Text:Data table Direct manufacturing labor use Variable manufacturing overhead Data table 0.02 hours per baguette $10.00 per direct manufacturing labor-hour Planned (budgeted) output Actual production Direct manufacturing labor Actual variable manufacturing overhead $628,230 2,900,000 baguettes 2,700,000 baguettes 48,700 hours - X
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