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Any kind of help is appreciated! The following information has been provided for Abbott Company. Standard Costs Direct Materials Direct Manufacturing Labor Variable Manufacturing Overhead

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The following information has been provided for Abbott Company. Standard Costs Direct Materials Direct Manufacturing Labor Variable Manufacturing Overhead 6 pounds per unit $ 0.9595 hours per unit $ 11.50 per pound 25.00 per hour 10.00 per direct labor hour Budgeted Fixed Manufacturing Overhead $1,000,000 20.00 per direct labor hour $ 10.40 per pound Actual Costs Incurred Direct Materials Purchased Direct Materials Used Direct Manufacturing Labor Variable Manufacturing Overhead Fixed Manufacturing Overhead Incurred 163,000 pounds 126,600 pounds 21,000 hours $ $ $ 25.50 per direct labor hour 9.63 per direct labor hour 957,550 Actual Number of Units Produced 20,000 Part 1: Calculate direct materials price and efficiency variances. Actual Costs Incurred Actual Input Qt. X Actual Rate Actual Input Qt. X Budgeted Rate Flexible Budget Budgeted Input Qt. Allowed for Actual Output X Budgeted Rate Direct Materials Purchases Usage Price Variance Efficiency Variance Part 2: Calculate direct manufacturing labor price, efficiency, and flexible budget variances. Actual Costs Incurred Actual Input Qt. X Actual Rate Actual Input Qt. X Budgeted Rate Flexible Budget Budgeted Input Qt. Allowed for Actual Output X Budgeted Rate Direct Manufacturing Labor Price Variance Efficiency Variance Flexible-Budget Variance Part 3: Calculate variable manufacturing overhead spending, efficiency, and flexible budget variances. Variable Manufacturing Overhead Actual Costs Incurred Actual Input Qt. X Actual Rate Actual Input Qt. X Budgeted Rate Flexible Budget Budgeted Input Qt. Allowed for Actual Output X Budgeted Rate Allocated Budgeted Input Qt. Allowed for Actual Output X Budgeted Rate Spending Variance Efficiency Variance Never a Variance Flexible Budget Variance Part 4: Calculate fixed manufacturing overhead spending, production volume, and flexible budget variances. Fixed Manufacturing Overhead Actual Costs Incurred Actual Input Qt. X Actual Rate Same Budgeted Lump Sum Flexible Budget As in the (Static Budget) Regardless of Output Leve Budgeted Input Qt. Allowed for Actual Output X Budgeted Rate Allocated Budgeted Input Qt. Allowed for Actual Output X Budgeted Rate Spending Variance Never A Variance Production Volume Variance Flexible Budget Variance

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