Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

5. Chiea's Fleot Feet, Ine, produces dance shoes for stares all over the world. White the pairs of shoes are bolxed individually, they are cratad

5.
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Chiea's Fleot Feet, Ine, produces dance shoes for stares all over the world. White the pairs of shoes are bolxed individually, they are cratad and shipped in batches. The thicping ceparment (Click to vied the information.) Read the requirements: Requirements 1. What is the static budget number of crates for 2020 ? 2. What is the flexible budget number of crates for 2020 ? 3. What is the actual number of crates shipped in 2020 ? 4. Assuming fixed overhead is allocated using crate-packing hours, what is the predetermined fixed overhead allocation rate? 5. For variable direct batch-level costs, compute the price and efficiency variances. 6. For fixed overhead costs, compute the spending and the production-volume variances. Data table Requiremont 1. What is the static budget number of crates for 2020 ? Determine the formula to calculate the amount. Then, enter the amounts in the formula to calculate the static budget number of crates. Requirement 2. What is the flexible budget number of crates for 2020 ? Determine the formula to calculate the amount. Then, enter the amounts in the formula to calculate the flexible budget number of crates. Requirement 3. What is the actual number of crates shipped in 2020 ? Determine the formula to calculate the amount. Then, enter the amounts in the formula to calculate the actual number of crates. Requirement 4. Assuming fixed overhead is allocated using crate-packing hours, what is the predetermined fixed overhead allocation rate? Determine the formula first. Then enter the amounts to calculate the static budget fixed overhead rate. (Enter your answer to the nearest cer = Static budget fixed overhead rate = per hour Requirement 5. For variable direct batch-level costs, compute the price and efficiency variances. Begin by calculating the following amounts. Compute the price (spending) and efficiency variances. (Label each variance as favorable (F) or unfavorable (U).) The price (spending) variance is The efficiency variance is Requirement 6. For fixed overhead costs, compute the spending and the production-volume variances. Begin by calculating the following amounts. Compute the spending and production volume variances. (Label each variance as favorable (F) or unfavorable (U).) The spending variance is The production-volume variance is

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

More Books

Students also viewed these Accounting questions