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8 - 2 6 Comprehensive variance analysis. ( LO 4 ) Magic Dice manufactures premium food processors. The following is some manufacturing overhead data for
Comprehensive variance analysis. LO Magic Dice manufactures premium food processors. The following is some manufacturing overhead data for Magic Dice for the year ended December BackThe table is as follows. Manufacturing Overhead Actual Results Flexible Budget Amount Allocated Variable $ $ $ Fixed Back Budgeted number of output units: Planned allocation rate: machinehours per unitActual number of machinehours used: Staticbudget variable manufacturing overhead costs: $RequiredCalculate the following quantities you should be able to do so in the prescribed order: Budgeted number of machinehours planned.Budgeted FMOH costs per machinehour.Budgeted VMOH costs per machinehour.Budgeted number of machinehours allowed for actual output achieved.Actual number of output units.Actual number of machinehours used per output unit. Check Figure: Budgeted DMH
Journal entries continuation of LO Refer to Problem Required Prepare journal entries for VMOH and FMOH you will need to calculate the various variances to accomplish thisOverhead variances are written off to the COGS account at the end of the fiscal year. Show how COGS is adjusted through journal entries.
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