Refer to the information in PA10-1 for Drink Well. Required: Prepare the journal entry to record Drink

Question:

Refer to the information in PA10-1 for Drink Well.

Required:

Prepare the journal entry to record Drink Well’s fixed manufacturing overhead costs and related variances for last year.

Data from PA10-1

Drink Well, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows:

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Drink Well had the following actual results last year:

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Managerial Accounting

ISBN: 9780078110771

1st Edition

Authors: Stacey WhitecottonRobert LibbyRobert Libby, Patricia LibbyRobert Libby, Fred Phillips

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Question Posted: May 15, 2024 08:02 AM

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Refer to the information in PA10-1 for Drink Well. Required: Prepare the journal entry to record Drink

Question:

Direct costs Clay Direct labor Variable MOH Fixed MOH ($250,000/100,000 units) Standard Quantity Standard Price (Rate) Standard Unit Cost 1.5 lbs. $ 1.60 per lb. $ 2.40 1.5 hrs. 12.00 per hr. 18.00 1.20 per direct labor hour 1.80 2.50

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Managerial Accounting

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