2 of 5 (0 complete) HW Score: 0 questio milar tal an * Data Table ria X of direc to Static Budget Actual Results (955 recliners) (975 recliners) Prel Sales $ 482,625 (975 recliners x $ 495 each) (955 recliners x $ 480 each) $ 458,400 Variable Manufacturing Costs: Direct Materials 51,480 51,488 Direct Labor 91,650 (5,850 yds @ $ 8.80 / yd.) (5,987 yds. @ $ 8.60 /yd.) (9,750 DLHr @ $ 9.40 / DLH) (9,350 DLHr@ $ 9.60 / DLH) (5,850 yds @ $ 5.30 / yd.) (5,987 yds. @ $ 6.70 / yd.) eclind 89.760 Variable Overhead 31,005 actur 40,113 Hials Fixed Manufacturing Costs: Fixed Overhead Total Cost of Goods Sold 60.255 62,255 - erhed 234,390 243,616 turing Gross Profit 248.235 $ 214,784 ber in Print Done Inswer 80 000 000 00 F4 F7 FB F9 2 of 5 (0 complete) ecliners and uses flexible budgeting and a standard cost system. Smith allocates overhead ba mudes the following selected data: data.) X Requirements arest 1. Prepare a flexible budget based on the actual number of recliners sold. 2. Compute the cost variance and the efficiency variance for direct materials and for direct labor. For manufacturing overhead, compute the variable overhead cost, variable overhead efficiency, fixed overhead cost, and fixed overhead volume variances. Round to the nearest dollar. 3. Have Smith's managers done a good job or a poor job controlling materials, labor, and overhead costs? Why? 4. Describe how Smith's managers can benefit from the standard costing system Print Done elds and then click Check Answer Clear All Check Sign Out Save Homework: Week Six : Chapter 8: Problems unting Score: 0 of 1 pt 2 of 5 (0 complete) P23-26A (similar to) HW Score: 0%, 0 of 5 pts Question Help Smith Recliners manufactures leather recliners and uses flexible budgeting and a standard cost system. Smith allocates overhead based on yards of direct materials The company's performance report includes the following selected data (Click the icon to view the selected data) Read the romant Flexible Budget Budget Amounts per Unit orrect: 0 1) Actual Units (Recliners) Sales Revenue Variable Manufacturing Costs Direct Materials Direct Labor Variable Overhead Fixed Manufacturing Costs Forced Overhead Total Cost of Goods Sold Gross Profil Enter any number in the edit fields and then click Check Answer Clear All Check Answer parts remaining 888