Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bottoms up company manufactures recyclable bottles. Consider the following selected dataStandard per bottle 450 ounces of input at $0.0015/oz 0.075 Labor hours at $21/labor hour

image text in transcribed

Bottoms up company manufactures recyclable bottles. Consider the following selected dataStandard per bottle 450 ounces of input at $0.0015/oz 0.075 Labor hours at $21/labor hour Actual performance:Bottles produced and sold 17,000 units Direct materials purchased and used 7,150,000 oz Labor hours used 1400 labor hoursTotal direct materials cost $100,100 Total direct labor costs $27,650I also need a possible reason for the favorable or unfavorable variable overhead spending Variance, I need to provide a possible reason for the favorable or unfavorable variable overhead efficiency VarianceI also need to provide a possible reason for the favorable or unfavorable total direct labor Variance I need these put into the attachment below:

image text in transcribed
Part aj and by Direct Materials Variances and Analysis Direct Materials Variance: Actual Total Price AQ x SP F Quantity Total Standard Results/ Actual Variance or Variance Standard Allowed Units Results Allowed Unit Units Produced Direct Materials AQ SO Materials/Units Produced AP SP Price Unit AQ X AP DMPV AQ x SP DMOV SQ x SP Total Cost DMV Total Direct Materials Variance Provide a possible reason for the favorable or unfavorable Direct Materials Price Variance. Provide a possible reason for the favorable or unfavorable Direct Materials Quantity Variance. Provide a possible reason for the favorable or unfavorable Total Direct Materials Variance. Part c) and d) Direct Labor Variances and Analysis Direct Labor Variance: Actual Total Labor AQ x SP Results/ F Direct Labor F Total Standard Actual Rate or Efficiency Standard Allowed Units Results Variance Variance Allowed Unit Units Produced Direct Labor AQ SO DOLH/Unit AP SP DL price unit AQ x AP AQ XS DLEV SQ x SP Total Cost DLY Total Direct Labor Variance Provide a possible reason for the favorable or unfavorable Direct Labor Rate Variance. Provide a possible reason for the favorable or unfavorable Direct Labor Efficiency Variance. Provide a possible reason for the favorable or unfavorable Total Direct Labor Variance. Part el and f) Overhead Variances and Analysis Variable Overhead Variance: Actual Total VOH AQ x SP F Direct Labor F Total Standard Results/ Actual Spending Efficiency Standard Allowed Units Results Variance Variance Allowed Uni Units Produced Variable Manufacturing Overhead SO Units ( DLH) AP SP VOH price DLH AQ X AP VOHSV AQ x SP DLEV SO x SP Total Cost VOHV Total Variable Overhead Variance

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_2

Step: 3

blur-text-image_3

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

Fundamentals of Financial Accounting

Authors: Fred Phillips, Robert Libby, Patricia Libby

6th edition

1259864235, 1259864230, 1260159547, 126015954X, 978-1259864230

More Books

Students also viewed these Accounting questions

Question

How might documents be altered?

Answered: 1 week ago

Question

Define Administration?

Answered: 1 week ago

Question

Define Decision making

Answered: 1 week ago

Question

What are the major social responsibilities of business managers ?

Answered: 1 week ago