ook Show Me How Calcdator ncome statement with variances Income Statement Belingham Company produces a product that requires 2 5 standard pounds per unit The standard price is $3 75 per pound The company produced 15,000 units that required 36.000 pounds, which were purchased at $4.00 per pound The product aiso requires 4 standard ours per unt at a standard hourly rate of $20 per hour. The 15 000 units required 61,800 hours at an hourly rate of $19 85 per hour in addition, the standard vanable overhead cost per unit is $0 90 per hour and the actual vanabit tectory overhead was S52770 Finaly h, standard ted overhead cost pr int a sl 15 per hou sa 000 hors, wmera 100% of non" capacity Assume that Beingnam sold000 uts at$172 prt Prepa" ncom statement through gross rott for Betingham Comory Enter ar amoues a posee nu reers @ecept favoatie vanarc es Enter al amounts as postve umbers excet tsvorape vanances Score: 10/50 Belinghan Company ncome Staement Through dress Prott Next edts NOW2|Online teachir Cergiet Income Statement with Variances Dvorak Company produces a product that requires 5 standard pounds per unit. The standard price is $2.50 per pound. The company pr duced 1,000 units that required 4,500 pounds, which were purchased at $3.00 per pound. The product also requires 3 standard hours per unit at a standard hourly rate of $17 per hour. The 1,000 units produced required 2,800 hours at an hourly rate of $16.50 per hour. In addition, the standard variable overhead cost per unit is $1.40 per hour and the actual variable factory overhead was $4,000. Finally, the standard fixed overhead cost per unit is $o.60 per hour at 3.500 hours, which is 100% of normal capacity. Prepare an income statement through gross profit for Dvorak Company for the month ended July 31. Assume that Dvorak sold 1,000 unlts at 9o per unit. If an amount box does not require er entry, leave it blank or enter "o Dvorak Company Income Statement Through Gross Profie Sales Cost of goods sold-at standard Gross profie-at standard Plus vanance adjustments to gross proft-at standand Direct materials price Direct materialis quantity Diract labor rare Direct labor me Factory overhead controllable Preiou Net Check My Wark Odts 12 Direct Labor Standards for Nonmanufacturing Operations in the Wonderland Post Office is a mechanical mall sorting operation. In this operation, letter mail is sorted at a rate of one letter per s by an operator sitting at a keyboard. The manager of the mechanical sorting second. The letter is mechanically sorted from a three-digit code input operation wants to determine of pieces of mail in December, due to the upcoming holiday season. Assume that the sorting temporary employee is hired to work 125 hours in the month. a. How many temporary employees should the manager hire for December? the number of temporary employees to hire for December. The manager estimates that there will be an additional 21,150,000 operators are temporary employees. The union contract requires that temporary employees be hired for one month at a time. Each employeer b. If each temporary emplovse earns a standard sis per hour, what would be the s me voriance if the actual number of additional letters sorted in variance as a negative number using a ninus sign and an unfavorable variance as a positive number Unfavorable v vorable variances can be thought of as ncreasing costs (a debit). Favorable variaces can be thought of as decreasing costs (a credit) ts this favorable or unfavorable? Consider factors affecting labor performance Remember the process discussed in chapter for calculating standard cost Check My Work PreviousNet dts Studin Sons ook Show Me How Calcdator ncome statement with variances Income Statement Belingham Company produces a product that requires 2 5 standard pounds per unit The standard price is $3 75 per pound The company produced 15,000 units that required 36.000 pounds, which were purchased at $4.00 per pound The product aiso requires 4 standard ours per unt at a standard hourly rate of $20 per hour. The 15 000 units required 61,800 hours at an hourly rate of $19 85 per hour in addition, the standard vanable overhead cost per unit is $0 90 per hour and the actual vanabit tectory overhead was S52770 Finaly h, standard ted overhead cost pr int a sl 15 per hou sa 000 hors, wmera 100% of non" capacity Assume that Beingnam sold000 uts at$172 prt Prepa" ncom statement through gross rott for Betingham Comory Enter ar amoues a posee nu reers @ecept favoatie vanarc es Enter al amounts as postve umbers excet tsvorape vanances Score: 10/50 Belinghan Company ncome Staement Through dress Prott Next edts NOW2|Online teachir Cergiet Income Statement with Variances Dvorak Company produces a product that requires 5 standard pounds per unit. The standard price is $2.50 per pound. The company pr duced 1,000 units that required 4,500 pounds, which were purchased at $3.00 per pound. The product also requires 3 standard hours per unit at a standard hourly rate of $17 per hour. The 1,000 units produced required 2,800 hours at an hourly rate of $16.50 per hour. In addition, the standard variable overhead cost per unit is $1.40 per hour and the actual variable factory overhead was $4,000. Finally, the standard fixed overhead cost per unit is $o.60 per hour at 3.500 hours, which is 100% of normal capacity. Prepare an income statement through gross profit for Dvorak Company for the month ended July 31. Assume that Dvorak sold 1,000 unlts at 9o per unit. If an amount box does not require er entry, leave it blank or enter "o Dvorak Company Income Statement Through Gross Profie Sales Cost of goods sold-at standard Gross profie-at standard Plus vanance adjustments to gross proft-at standand Direct materials price Direct materialis quantity Diract labor rare Direct labor me Factory overhead controllable Preiou Net Check My Wark Odts 12 Direct Labor Standards for Nonmanufacturing Operations in the Wonderland Post Office is a mechanical mall sorting operation. In this operation, letter mail is sorted at a rate of one letter per s by an operator sitting at a keyboard. The manager of the mechanical sorting second. The letter is mechanically sorted from a three-digit code input operation wants to determine of pieces of mail in December, due to the upcoming holiday season. Assume that the sorting temporary employee is hired to work 125 hours in the month. a. How many temporary employees should the manager hire for December? the number of temporary employees to hire for December. The manager estimates that there will be an additional 21,150,000 operators are temporary employees. The union contract requires that temporary employees be hired for one month at a time. Each employeer b. If each temporary emplovse earns a standard sis per hour, what would be the s me voriance if the actual number of additional letters sorted in variance as a negative number using a ninus sign and an unfavorable variance as a positive number Unfavorable v vorable variances can be thought of as ncreasing costs (a debit). Favorable variaces can be thought of as decreasing costs (a credit) ts this favorable or unfavorable? Consider factors affecting labor performance Remember the process discussed in chapter for calculating standard cost Check My Work PreviousNet dts Studin Sons
