1. Actuals are in for quarter two.You sold 5% more units than you budgeted for (round to a whole unit), but price per unit was $15.50.

a.Calculate revenue

b.Compute the cost of goods sold (total and per unit) before adjusting for actual OH cost (there was not any beginning finished goods inventory for Q2)

1. Actual filling ingredients usage for quarter one was 15,925,000 grams at a price of $0.0085 per gram. Actual equivalent units of production (cases of cookies) completed through the second process (where the filling is added) was 176,000.Calculate the direct materials variances for the filling (price, usage, and total) and indicate if these variances are favorable or unfavorable.

1. Actual direct labor hours for the quarter were 55,210 at an average rate of $18.50 per hour.For actual production, you expected to use 55,716 direct labor hours.Calculate the direct labor variances (rate, efficiency and total) and indicate if these variances are favorable or unfavorable.

1. For July, you have received a special offer of 5,000 cases of cookies at a total price of $55,000.Your current capacity per month is 80,000 cases.The event organizers ordering these cookies have requested a special summer themed wrapping that will cost $1,800 for you to set-up.Should you accept or reject this offer? Why?

1. Determine over- or under-applied overhead and close to cost of goods sold.Actual OH costs are given in table 13 (look at #11 for actual DL hours used to apply OH).Determine the new cost of goods sold amount.

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Process Costing - Packaging Department Direct materials are added 90% at the beginning of the process and the remaining 10% are added when the cookies are 80% complete with the packaging process. Direct labor and overhead are added evenly throughout the process. Table 8 Unit and cost information Cost Physical Units Transferred -in Direct Materials Direct Labor Overhead Beg WIP 12,000 (40% complete) $102,240 $11,880 $1,525.20 $124.80 Transferred 160,000 $1,308,160 In End WIP 10,000 (30% complete) Added during Qtr 2: Direct Materials -- $140,020 Direct Labor - 3250 hrs @ $18.50 per hour Overhead - OH is applied based on predetermined OH rate and actual DL hours 1. Determine the number of units completed during quarter 2. 2. Compute the equivalent units using the weighted average method Process Costing - Packaging Department Direct materials are added 90% at the beginning of the process and the remaining 10% are added when the cookies are 80% complete with the packaging process. Direct labor and overhead are added evenly throughout the process. Table 8 Unit and cost information Cost Physical Units Transferred -in Direct Materials Direct Labor Overhead Beg WIP 12,000 (40% complete) $102,240 $11,880 $1,525.20 $124.80 Transferred 160,000 $1,308,160 In End WIP 10,000 (30% complete) Added during Qtr 2: Direct Materials -- $140,020 Direct Labor - 3250 hrs @ $18.50 per hour Overhead - OH is applied based on predetermined OH rate and actual DL hours 1. Determine the number of units completed during quarter 2. 2. Compute the equivalent units using the weighted average method