FlowerMate is a manufacturer of large flower pots for urban settings. The company has these standards: E (Click the icon to view the standards.) B (Click the icon to view the actual results.) B (Click the icon to view related variances.) Prepare a standard cost income statement for the company's management. Assume that sales were $663,000 and actual marketing and administrative expenses were $80,500. (Use a minus sign or parentheses for favorable variances.) FlowerMate Standard Cost Income Statement Month Ended Sales revenue at actual 663000 1809 U Cost of goods sold at standard cost Manufacturing cost variances: U/F DM price variance DM quantity variance DL rate variance DL efficiency variance Variable MOH rate variance 11701 U 9100 F 12350|| U 1820|| U FlowerMate is a manufacturer of large flower pots for urban settings. The company has these standards: B (Click the icon to view the standards.) B (Click the icon to view the actual results.) (Click the icon to view related variances.) Prepare a standard cost income statement for the company's management. Assume that sales were $663,000 and actual marketing and administrative expenses were $80,500. (Use a minus sign or parentheses for favorable variances.) DL efficiency variance 12350|| U Variable MOH rate variance 1820|| U 4550|| U Variable MOH efficiency variance Fixed MOH budget variance 200|| U Fixed MOH volume variance 1000 F 11799 U Total manufacturing variances Cost of goods sold (at actual) Gross profit (actual) Marketing and administrative expenses Operating income (loss) E11-34A (similar to) Question Help - X Data Table A Data Table Direct materials (resin) Direct labor........ 13 pounds per pot at a cost of $3.00 per pound 3.0 hours at a cost of $19.00 per hour $7.00 per direct labor hour $22,400 $6.00 per direct labor hour (DLH) Standard variable manufacturing overhead rate Budgeted fixed manufacturing overhead. Standard fixed MOH rate.. Last month, the company reported the following actual results for the production of 1,300 flower pots: Purchased 18,090 pounds at a cost of $3.10 per pound; Direct materials. used 17,290 pounds to produce 1,300 pots Worked 3.5 hours per flower pot (4,550 total DLH) at a Direct labor... cost of $17.00 per hour Actual variable manufacturing $7.40 per direct labor hour for total actual variable overhead... manufacturing overhead of $33,670 Actual fixed manufacturing overhead $22,200 Standard fixed manufacturing overhead allocated based on actual production. . $23,400 FlowerMate allocates manufacturing overhead to production based on standard direct labor hours. The cost of goods sold at standard cost totaled $175,500. Print Done Marketing and administrative expenses Print Done Operating income (loss) Prepare a standard cost income statement for the company's management. Assume that sales were $663,000 and actual marketing and administrative expenses were $80,500. (Use a minus sign or FlowerMate is a manufacturer of large flower pots for urban settings. The company has these standards: 5 (Click the icon to view the standards.) B (Click the icon to view the actual results.) Data Table (Click the icon to view related variances.) 12 DL efficiency variance Variable MOH rate variance Direct materials price variance Direct materials quantity variance $ 1,809 U $1,170 U Variable MOH efficiency variance Fixed MOH budget variance Direct labor rate variance Direct labor efficiency variance $9,100 F $12,350 U Fixed MOH volume variance Total manufacturing variances Cost of goods sold (at actual) Variable MOH rate variance Variable MOH efficiency variance Fixed MOH budget variance Fixed MOH volume variance $1,820 U $4,550 U $200 F $1,000 F Gross profit (actual) Marketing and administrative expenses Print Done Done Operating income (loss)
