Venice Textiles produces cloth. The inputs are fabric, labor, and overhead. Fragmentary productivity records from plant files for the last period show the following: Fabric price (per bolt) Sales price (per bolt) Sales revenue Manufacturing overhead Total factor productivity Total labor costs $ 30.00 $ 120.00 0.38 $ 2,160,000 $ 510,000 1.60 $ 120,000 Required: Determine the partial fabric (materials) productivity. Partial fabric productivity

Venice Textiles produces cloth. The inputs are fabric, labor, and overhead. Fragmentary productivity records from plant files for the last period show the following: Fabric price (per bolt) Sales price (per bolt) Sales revenue Manufacturing overhead Total factor productivity Total labor costs $ 30.00 $ 120.00 0.38 $ 2,160,000 $ 510,000 1.60 $ 120,000 Required: Determine the partial fabric (materials) productivity. Partial fabric productivity

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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Required information [The following information applies to the questions displayed below.] Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct material: 4 pounds at $9.00 per pound Direct labor: 3 hours at $15 per hour Variable overhead: 3 hours at $6 per hour Total standard variable cost per unit The company also established the following cost formulas for its selling expenses: Advertising Sales salaries and commissions Shipping expenses $ 36.00 45.00 18.00 $ 99.00 Fixed Cost per Month $ 210,000 $ 120,000 Variable Cost per Unit Sold $ 13.00 $ 4.00 The planning budget for March was based on producing and selling 26,000 units. However, during March the company actually produced and sold 31,000 units and incurred the following costs: Variable overhead rate variance a. Purchased 155,000 pounds of raw materials at a cost of $7.20 per pound. All of this…
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Please only answer the total amount of fixed manufacturing overhead.
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