Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

19) Overall, analyze and rate the entire job for Global Dynamics for the month of January (i.e. great job, good job, average, poor job, etc.)

image text in transcribed
image text in transcribed
19) Overall, analyze and rate the entire job for Global Dynamics for the month of January (i.e. great job, good job, average, poor job, etc.) for each of the six main variances (list and label the six main variances and rate each). You should do this by listing the six main variances that are solutions above to #5,6,10,11,15,16 and the formulas can be found on pages 409,412,414 in the textbook). Using responsibility accounting, describe the responsible manager for each of the six variances (production manager, purchasing manager, personnel manager, etc.), given what we discussed in class. Do you think that Shark Tank is satisfied with the performance of your company? Your company, Bluestar Conglomerate, Inc., has won funding from Shark Tank. This company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and the standards per unit are as follows: Direct materials per unit: 10 pounds at $20 per pound Direct labor per unit: 4 hours at $17 per hour Variable overhead: 4 hours at $10 per hour Budgeted Fixed advertising expenses: $6000 Budgeted Fixed sales expenses: $8000 Budgeted Fixed shipping expenses: $9000 The planning budget for January 2022 was based on producing and selling 1000 units. However, during January, the company actually produced and sold 1100 units, at a selling price of $600 per unit, and incurred the following costs: (a) Purchased 10,200 pounds of direct materials at a cost of $19 per pound. All of this material was used in production. (b) Direct laborers worked 4,300 hours at a rate of $16.00 per hour (c) Total variable manufacturing overhead for the month was $49,000 (d) ACTUAL fixed costs: Total fixed advertising expenses were $7,000. Total fixed sales expenses were $8,000. Total fixed shipping expenses were $9,900

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

CISA Certified Information Systems Auditor Bundle

Authors: Peter H. Gregory

1st Edition

1260459861, 978-1260459869

More Books

Students also viewed these Accounting questions

Question

Classify delivery styles by type.

Answered: 1 week ago