Refer to the information in PB10-5 for Gotta Cotta. Required: Prepare the journal entry to record Gotta

Question:

Refer to the information in PB10-5 for Gotta Cotta.

Required:

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

Data from PB10-5

Gotta Cotta, Inc., manufactures basic terra cotta planters. Its standard cost information for the past year follows:

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Gotta Cotta has the following actual results for the past 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 08:03 AM

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Refer to the information in PB10-5 for Gotta Cotta. Required: Prepare the journal entry to record Gotta

Question:

Direct costs Clay Direct labor Variable manufacturing overhead Fixed manufacturing overhead ($480,000/800,000 units) Standard Quantity Standard Price (Rate) Standard Unit Cost 2 lbs. $ 0.80 per lb. $1.60 0.5 hr. 12.00 per hr. 6.00 0.40 per direct labor hour 0.20 0.60

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Managerial Accounting

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