Cost and production data for Binghamton Beverages Inc. are present as follows: Standard Cost Summary Mixing Blending Materials: --4 lbs @ 8.50 --I gal @ $ 1.00 SI Labor: -- 1 hr @ $ 8.00 -- 1 hr @ $ 10.00 10 Factory Overhead: --Per unit Totals S 13 Production Report Mixing Blending Beginning units in process None None Units finished and transferred 6,000 5.000 Ending units in process (50% complete) 1,000 ,000 Actual Cost Data Blending Mixing Direct Material: 30,000 lbs @ 8.52 15,600 5,500 gals @ 5.95 $ 5,225 Direct Labor: 6,800 hrs @ $ 8.00 $4,400 5,500 hrs @ S 10.20 57.120 Factory Overhead: Indirect materials S 500 $1,000 Indirect labor 2,000 5,000 4,500 5.000 Totals $ 13 $11 $ 24 Production Report Mixing Blending Beginning units in process None None Units finished and transferred 6,000 5,000 Ending units in process (50% complete) ,000 1,000 Actual Cost Data Blending Mixing Direct Material: 30,000 lbs @ $.52 15,600 5,500 gals @ 5.95 $ 5,225 Direct Labor: 6,800 hrs @ $ 8.00 54,400 5,500 hrs @ $ 10.20 57,120 Factory Overhead: Indirect materials $ 500 $ 1,000 Indirect labor 2,000 5,000 5,000 Other 4,500 Total Cost 77,000 $ 73,345 2) Comment on the possible causes for each of the variances that you computed. 3) Determine the balance of ending Work In Process in each department. Cost and production data for Binghamton Beverages Inc. are present as follows: Standard Cost Summary Mixing Blending Materials: --4 lbs @ 8.50 --I gal @ $ 1.00 SI Labor: -- 1 hr @ $ 8.00 -- 1 hr @ $ 10.00 10 Factory Overhead: --Per unit Totals S 13 Production Report Mixing Blending Beginning units in process None None Units finished and transferred 6,000 5.000 Ending units in process (50% complete) 1,000 ,000 Actual Cost Data Blending Mixing Direct Material: 30,000 lbs @ 8.52 15,600 5,500 gals @ 5.95 $ 5,225 Direct Labor: 6,800 hrs @ $ 8.00 $4,400 5,500 hrs @ S 10.20 57.120 Factory Overhead: Indirect materials S 500 $1,000 Indirect labor 2,000 5,000 4,500 5.000 Totals $ 13 $11 $ 24 Production Report Mixing Blending Beginning units in process None None Units finished and transferred 6,000 5,000 Ending units in process (50% complete) ,000 1,000 Actual Cost Data Blending Mixing Direct Material: 30,000 lbs @ $.52 15,600 5,500 gals @ 5.95 $ 5,225 Direct Labor: 6,800 hrs @ $ 8.00 54,400 5,500 hrs @ $ 10.20 57,120 Factory Overhead: Indirect materials $ 500 $ 1,000 Indirect labor 2,000 5,000 5,000 Other 4,500 Total Cost 77,000 $ 73,345 2) Comment on the possible causes for each of the variances that you computed. 3) Determine the balance of ending Work In Process in each department
