Bria manufactures coffee mugs that it sells to other companies for customizing with their own logos Bra prepares flexible budgets and uses a standard cost system to control manufacturing costs. The standard unit cost of a coffee mug is based on static budget volume of 59.900 coffee mugs per month (Click the icon to view the cost data) Actual cost and production information for July 2015 follows: Click the icon to view actual cost and production information.) Read the requirements Requirement 1. Compute the cost and efficiency variances for direct materials and direct labor Begin with the cost variances. Select the required formulas, compute the cost variances for direct materials and direct labor, and identify whether each variance is favorable (F) or unfavorable (U) (Abbreviations used: AC - actual cost: A0 = actual quantity, FOH = foed overhead, SC = standard cost 50 standard quantity) Formula Variance Direct materials cost variance Direct labor costvariance x Data table $ 005 0.30 Direct Materials (0.2 lbs @ 50.25 per b) Direct Labor (3 minutes @ $0.13 per minute) Manufacturing Overhead Variable (3 minutes @ $0.06 per minute) Fored (3 minutes @ $0.14 per minute) Total Cost per Coffee Mug $ 0.18 0.42 0.50 $ 104 X x More info There were no beginning or ending inventory balances. All expenditures were on account b. Actual production and sales were 62.600 coffee mugs. c. Actual direct materials usage was 10,000 lbs at an actual cost of $0.17 perib. d. Actual direct labor usage was 199.000 minutes at a total cost of $31,840 Actual overhead cost was $8,955 variable and 531,945 fixed f. Selling and administrative costs were $126,000 Requirements labor 1. Compute the cost and efficiency variances for direct materials and direct 2. Journalize the purchase and usage of direct materials and the assignment of direct labor, including the related variances 3. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fed overhead cost and volume variances 4. Joumalize the actual manufacturing overhead and the allocated manufacturing overhead. Journalize the movement of all production costs from Work in Process Inventory. Joumalize the adjusting of the Manufacturing Overhead account 5. Bria intentionally hired more highly skilled workers during July, How did this decision affect the cost variances? Overall, was the decision wise? tri tres grans for conting with own reconegut coming The and to the music vom 100 cm mo A costantino 2011 Oproceni Hequirement. Come cost and cannot be und Get Begin was erforma compute the containers for at bo and the chart AC10FOH and cotton Varance Doc ures coffee mugs that it solis to other companies for customizing with their own logos. flexible budgets and uses a standard cost system to control manufacturing costs. The cost of a coffee mug is based on static budget volume of 59,900 coffee mugs por Actual cost and production information for July 2018 follows: (click the icon to www actual cost and production information) Read the requirements icon to view the cost data) - X Data table ant 1. Compute the cost and efficiend the cost variances Select the require ons used AC tulot AQ pinceis favorable For hvorable 0.05 0.30 anal con variano of cost Vance Direct Materials (0.250.25 per it) Direct Labor minutes $0.13 per minute) Manufacturing vorhand Variable (3 minutos 50.06 per minute) Fred (3 minutes $0.14 per mind Total Cost per Colle Mug 5 08 0.42 5 104 Print Done Clear Check antwer Suve anufactures coffee mugs that it sells to other companies for customizing with their own logos pore flexible budgets and uses a standard cost system to control manufacturing costs. The ad unit cost of a coffee mug is based on static budget volume of 59.900 cotton mugs per Actual cost and production information for July 2018 follows: Click the icon to view accost and production information Requirements More info a. There were no beginning or ending inventory balances. All expenditures were on account Actual production and sales were 62.600 coffee mugs Actual direct materials usage was 10.000 in actual cost of $0.17 per d. Actual direct laborsage was 100.000 minutos a total cost of $31.040 Actus overhead coat was 58,955 variable and $31.945 fred Selling and administrative costs were $120.000 1. Compute the cost and clency variances for direct materials and direct ber 2 Joumle the chat and usage of direct and the mento direct laberinduding the dance 3. For manufacturing overhead, compute the variable overhead cost and oficiency variances and the fored ovochead cost and volume wie 4. Journal manufacturing overhead and the end manufacturing overhead Journal the movement of production cos from Work in Process Inventory Journal theating of the Manufacturing Overhead account 5 Britney hered more highly workers ingy How did this decision after the cost Vanco? Overall was the decisions Print Done Print Done Bria manufactures coffee mugs that it sells to other companies for customizing with their own logos Bra prepares flexible budgets and uses a standard cost system to control manufacturing costs. The standard unit cost of a coffee mug is based on static budget volume of 59.900 coffee mugs per month (Click the icon to view the cost data) Actual cost and production information for July 2015 follows: Click the icon to view actual cost and production information.) Read the requirements Requirement 1. Compute the cost and efficiency variances for direct materials and direct labor Begin with the cost variances. Select the required formulas, compute the cost variances for direct materials and direct labor, and identify whether each variance is favorable (F) or unfavorable (U) (Abbreviations used: AC - actual cost: A0 = actual quantity, FOH = foed overhead, SC = standard cost 50 standard quantity) Formula Variance Direct materials cost variance Direct labor costvariance x Data table $ 005 0.30 Direct Materials (0.2 lbs @ 50.25 per b) Direct Labor (3 minutes @ $0.13 per minute) Manufacturing Overhead Variable (3 minutes @ $0.06 per minute) Fored (3 minutes @ $0.14 per minute) Total Cost per Coffee Mug $ 0.18 0.42 0.50 $ 104 X x More info There were no beginning or ending inventory balances. All expenditures were on account b. Actual production and sales were 62.600 coffee mugs. c. Actual direct materials usage was 10,000 lbs at an actual cost of $0.17 perib. d. Actual direct labor usage was 199.000 minutes at a total cost of $31,840 Actual overhead cost was $8,955 variable and 531,945 fixed f. Selling and administrative costs were $126,000 Requirements labor 1. Compute the cost and efficiency variances for direct materials and direct 2. Journalize the purchase and usage of direct materials and the assignment of direct labor, including the related variances 3. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fed overhead cost and volume variances 4. Joumalize the actual manufacturing overhead and the allocated manufacturing overhead. Journalize the movement of all production costs from Work in Process Inventory. Joumalize the adjusting of the Manufacturing Overhead account 5. Bria intentionally hired more highly skilled workers during July, How did this decision affect the cost variances? Overall, was the decision wise? tri tres grans for conting with own reconegut coming The and to the music vom 100 cm mo A costantino 2011 Oproceni Hequirement. Come cost and cannot be und Get Begin was erforma compute the containers for at bo and the chart AC10FOH and cotton Varance Doc ures coffee mugs that it solis to other companies for customizing with their own logos. flexible budgets and uses a standard cost system to control manufacturing costs. The cost of a coffee mug is based on static budget volume of 59,900 coffee mugs por Actual cost and production information for July 2018 follows: (click the icon to www actual cost and production information) Read the requirements icon to view the cost data) - X Data table ant 1. Compute the cost and efficiend the cost variances Select the require ons used AC tulot AQ pinceis favorable For hvorable 0.05 0.30 anal con variano of cost Vance Direct Materials (0.250.25 per it) Direct Labor minutes $0.13 per minute) Manufacturing vorhand Variable (3 minutos 50.06 per minute) Fred (3 minutes $0.14 per mind Total Cost per Colle Mug 5 08 0.42 5 104 Print Done Clear Check antwer Suve anufactures coffee mugs that it sells to other companies for customizing with their own logos pore flexible budgets and uses a standard cost system to control manufacturing costs. The ad unit cost of a coffee mug is based on static budget volume of 59.900 cotton mugs per Actual cost and production information for July 2018 follows: Click the icon to view accost and production information Requirements More info a. There were no beginning or ending inventory balances. All expenditures were on account Actual production and sales were 62.600 coffee mugs Actual direct materials usage was 10.000 in actual cost of $0.17 per d. Actual direct laborsage was 100.000 minutos a total cost of $31.040 Actus overhead coat was 58,955 variable and $31.945 fred Selling and administrative costs were $120.000 1. Compute the cost and clency variances for direct materials and direct ber 2 Joumle the chat and usage of direct and the mento direct laberinduding the dance 3. For manufacturing overhead, compute the variable overhead cost and oficiency variances and the fored ovochead cost and volume wie 4. Journal manufacturing overhead and the end manufacturing overhead Journal the movement of production cos from Work in Process Inventory Journal theating of the Manufacturing Overhead account 5 Britney hered more highly workers ingy How did this decision after the cost Vanco? Overall was the decisions Print Done Print Done