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can someone help me finish this problem? some of my answers are wrong & can you show your work? Income statement with variances Instructions Income
can someone help me finish this problem? some of my answers are wrong & can you show your work? Income statement with variances Instructions Income Statement Instructions Bellingham Company produces a product that requires 25 standard pounds per unit at a standard price of $3.75 per pound. The company used 36,000 pounds to produce 15.000 units, which were purchased at 54.00 per pound. Each unit requires 4 standard direct labor hours per unit at a standard hourly rate of $20 per hour. For the 16,000 units produced, 61,800 hours were needed and employees were paid an hourly rate of $10.85 per hour. The company uses a standard variable overhead cost per unit of $0.90 per direct later hour. Actul variable factory overhead was $52.770 The company ses a standard foed overhead cost per unit of 51.15 per direct labor hour at 68,000 hours, which is 100% of normal capacity Required: Prepare an income statement through gross profit for Berlingham Company for the month ending March 31. Assume Bottingham sold 15.000 un at $172 perunt. Enter a favorable variance as a negative number walng a minus son and an untevable variance as a poole number Income statement with variances Instructions Income Statement Instructions Income Statement Prepare an income statement through gross profit for Bellingham Company for the month ending March 31. Assume Bellingham sold 15.000 units at $172 per unt Enter a favorable arunce as a negative number using a minus sign and an unfavorable variance as a positive number Belingham Company Income Statement through Gross Profit For the Month Ended March 31 1 Sales Cost of goods soldat standard Gross profitat standard 52,580,000.00 1.463,625.00 $1.116.375.00 Favorable Unfavorable $9.000.00 $5.425.00) 09270.00 Variances from standard cost Direct materials price Direct materiais quantity Direct labore Direct labor time 16 Factory overhead controllable 11 Factory overhead volume 13 Net variances from standard cost-unfavorable 11 Gross profit 56,000.00 (1.250.00) 2.300.00 26.575.00 31.019.80000 Income statement with variances Instructions Income Statement Instructions Bellingham Company produces a product that requires 25 standard pounds per unit at a standard price of $3.75 per pound. The company used 36,000 pounds to produce 15.000 units, which were purchased at 54.00 per pound. Each unit requires 4 standard direct labor hours per unit at a standard hourly rate of $20 per hour. For the 16,000 units produced, 61,800 hours were needed and employees were paid an hourly rate of $10.85 per hour. The company uses a standard variable overhead cost per unit of $0.90 per direct later hour. Actul variable factory overhead was $52.770 The company ses a standard foed overhead cost per unit of 51.15 per direct labor hour at 68,000 hours, which is 100% of normal capacity Required: Prepare an income statement through gross profit for Berlingham Company for the month ending March 31. Assume Bottingham sold 15.000 un at $172 perunt. Enter a favorable variance as a negative number walng a minus son and an untevable variance as a poole number Income statement with variances Instructions Income Statement Instructions Income Statement Prepare an income statement through gross profit for Bellingham Company for the month ending March 31. Assume Bellingham sold 15.000 units at $172 per unt Enter a favorable arunce as a negative number using a minus sign and an unfavorable variance as a positive number Belingham Company Income Statement through Gross Profit For the Month Ended March 31 1 Sales Cost of goods soldat standard Gross profitat standard 52,580,000.00 1.463,625.00 $1.116.375.00 Favorable Unfavorable $9.000.00 $5.425.00) 09270.00 Variances from standard cost Direct materials price Direct materiais quantity Direct labore Direct labor time 16 Factory overhead controllable 11 Factory overhead volume 13 Net variances from standard cost-unfavorable 11 Gross profit 56,000.00 (1.250.00) 2.300.00 26.575.00 31.019.80000
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