Ceramics Etc. is a manufacturer of large flower pots for urban settings. The company has these standards:
Prepare a standard cost income statement for the company's management. Assume that sales were $506,000 and actual marketing and administrative expenses were $79,000. (Use a minus sign or parentheses for favorable variances.)
E11-34A (similar to) Question Help Ceramics Etc. is a manufacturer of large flower pots for urban settings. The company has these standards: (Click the icon to view the standards.) Prepare a standard cost income statement for the company's management. Assume that sales were $506,000 and actual marketing and administrative expenses were $79,000. (Use a minus sign or parentheses for favorable variances.) (Click the icon to view the actual results.) (Click the icon to view related variances.) Month Ended Manufacturing cost variances: U/F Total manufacturing variances Gross profit (actual) neration income Insel Choose from any list or enter any number in the input fields and then click Check Answer. All parts showing Clear All Check Answer i Data Table Data Table Last month, the company reported the following actual results for the production of 1,100 flower pots: 13 pounds per pot at a cost of $4.00 per . pound Direct materials (resin). Direct labor... Standard variable manufacturing overhead rate... .2.0 hours at a cost of $11.00 per hour $5.00 per direct labor hour Budgeted fixed manufacturing overhead $18,800 Purchased 15,320 pounds at a cost of $4.10 per pound; Direct materials used 14,520 pounds to produce 1,100 pots Worked 2.3 hours per flower pot (2,530 total DLH) at a Direct labor... .cost of $10.00 per hour Actual variable manufacturing $5.40 per direct labor hour for total actual variable overhead ................... .... manufacturing overhead of $13,662 Actual fixed manufacturing overhead $18,600 Standard fixed manufacturing overhead allocated based on actual production. ... $ 19,800 Data Table Standard fixed MOH rate. $9.00 per direct labor hour (DLH) Ceramics Etc. allocates manufacturing overhead to production based on standard direct labor hours. The cost of goods sold at standard cost totaled $112,200. Print Done Print Done $ 1,532 U Direct materials price variance Direct materials quantity variance $880 U $2,530 F nufacturing variances Direct labor rate variance Direct labor efficiency variance $3,630 U it (actual) Variable MOH rate variance Variable MOH efficiency variance Fixed MOH budget variance Fixed MOH volume variance $1,012 U $1,650 U $200 F $1,000 F income lingel my list or enter any number in the input fields and then click a Print Done
