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Cole Recliners manufactures leather recliners and uses floxible budgeting and a standard cost system. Colo allocates overhead based on yards of direct materials. The company's

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Cole Recliners manufactures leather recliners and uses floxible budgeting and a standard cost system. Colo allocates overhead based on yards of direct materials. The company's performance report includes the following selected data: (Click the icon to view the selected data) Read the requirements Requirement 1. Prepare a flexible budget based on the actual number of recliners sold. (Round budget amounts per unit to the nearest cent) Colo Recliners Flexible Budget Budget Amounts per Unit Actual Units (Recliners) Sales Revenue Variable Manufacturing Costs: Direct Materials Direct Labor Variable Overhead Fixed Manufacturing Costs: the selected data.) 5 lexible by i Requirements arest cer Recling ble Bud 1. 2. Prepare a flexible budget based on the actual number of recliners sold. Compute the cost variance and the efficiency variance for direct materials and for direct labor. For manufacturing overhead, compute the variable overhead cost, variable overhead efficiency, fixed overhead cost, and fixed overhead volume variances. Round to the nearest dollar. Have Cole's managers done a good job or a poor job controlling materials, labor, and overhead costs? Why? Describe how Cole's managers can benefit from the standard costing system 3. 4. Print Done fields and then click Check Answer. 15 Que Data Table nufai anc ov x bf die ats ba Static Budget Actual Results (1,025 recliners) (1,005 recliners) $ 507,375 $ 482,400 54,120 54,180 Sales (1,025 recliners x $495 each) (1,005 recliners x 5480 each) Variable Manufacturing Costs: Direct Materials (6,150 yds. @ $8.80 / yd.) (6,300 yds. @ $8.60 / yd.) Direct Labor (10,250 DLHr @ $11.30 / DLHr) (9,850 DLHr @ $11.50 / DLHO) Variable Overhead (6,150 yds. @ $5.10/yd.) (6,300 yds. @ $6.50 / yd.) Fixed Manufacturing Costs: Fixed Overhead 115,825 113,275 31,365 40,950 62,730 64,730 Total Cost of Goods Sold 264,040 273,135 Gross Profit 243,335 $ 209,265 Print Done Cole Recliners manufactures leather recliners and uses floxible budgeting and a standard cost system. Colo allocates overhead based on yards of direct materials. The company's performance report includes the following selected data: (Click the icon to view the selected data) Read the requirements Requirement 1. Prepare a flexible budget based on the actual number of recliners sold. (Round budget amounts per unit to the nearest cent) Colo Recliners Flexible Budget Budget Amounts per Unit Actual Units (Recliners) Sales Revenue Variable Manufacturing Costs: Direct Materials Direct Labor Variable Overhead Fixed Manufacturing Costs: the selected data.) 5 lexible by i Requirements arest cer Recling ble Bud 1. 2. Prepare a flexible budget based on the actual number of recliners sold. Compute the cost variance and the efficiency variance for direct materials and for direct labor. For manufacturing overhead, compute the variable overhead cost, variable overhead efficiency, fixed overhead cost, and fixed overhead volume variances. Round to the nearest dollar. Have Cole's managers done a good job or a poor job controlling materials, labor, and overhead costs? Why? Describe how Cole's managers can benefit from the standard costing system 3. 4. Print Done fields and then click Check Answer. 15 Que Data Table nufai anc ov x bf die ats ba Static Budget Actual Results (1,025 recliners) (1,005 recliners) $ 507,375 $ 482,400 54,120 54,180 Sales (1,025 recliners x $495 each) (1,005 recliners x 5480 each) Variable Manufacturing Costs: Direct Materials (6,150 yds. @ $8.80 / yd.) (6,300 yds. @ $8.60 / yd.) Direct Labor (10,250 DLHr @ $11.30 / DLHr) (9,850 DLHr @ $11.50 / DLHO) Variable Overhead (6,150 yds. @ $5.10/yd.) (6,300 yds. @ $6.50 / yd.) Fixed Manufacturing Costs: Fixed Overhead 115,825 113,275 31,365 40,950 62,730 64,730 Total Cost of Goods Sold 264,040 273,135 Gross Profit 243,335 $ 209,265 Print Done

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