FlowerMate is a manufacturer of large ower pots for urban settings. The company has these standards: a (Click the icon to view the standards.) (Click the icon to view the actual results.) a (Click the icon to view related variances.) Standard Cost Income Statement FlowerMate Month Ended Sales revenue at actual Cost of goods sold at standard cost Manufacturing cost variances: U/F 663000 DM price variance 1809 U DM quantity variance 1170 U DL rate variance 9100 F DL efficiency variance 12350 U Variable MOH rate variance 1820 U 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.) FlcwerMate is a manufacturer of large ower pots for urban settings. The company has these standards: Click the icon to View the standards.) Click the icon to view the actual results.) Click the icon to View related variances.) DL efficiency variance 12350 U Variable MOH rate variance 1820 U Variable MOH efficiency variance 4550 U Fixed MOH budget variance 200 U Fixed MOH volume variance 1000 F Total manufacturing variances Cost of goods sold (at actual) Gross prot (actual) Marketing and administrative expenses Operating income (loss) 11799 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.) E11-34A (similar to) Question Help i Data Table X i Data Table - X 13 pounds per pot at a cost of $3.00 per Last month, the company reported the following actual results for the production of 1,300 flower Direct materials (resin) . . pound pots: Direct labor. . . . . . . . . . ...... . . . . . . 3.0 hours at a cost of $19.00 per hour Purchased 18,090 pounds at a cost of $3.10 per pound; Standard variable manufacturing overhead rate . . . . . $7.00 per direct labor hour Direct materials. . . used 17,290 pounds to produce 1,300 pots Budgeted fixed manufacturing overhead . . $22,400 Worked 3.5 hours per flower pot (4,550 total DLH) at a Direct labor . . . . . . . . . cost of $17.00 per hour Standard fixed MOH rate. . . .. $6.00 per direct labor hour (DLH) Actual variable manufacturing $7.40 per direct labor hour for total actual variable FlowerMate allocates manufacturing overhead to production based on standard direct labor hours. overhead . . . . . . . . . . . . manufacturing overhead of $33,670 The cost of goods sold at standard cost totaled $175,500. Actual fixed manufacturing overhead $22,200 Standard fixed manufacturing overhead allocated based on actual Print Done production. . . . . . . . . . $23,400 Marketing and administrative expenses Print Done Operating income (loss)FlowerMate 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 (Click the icon to view the standards.) $663,000 and actual marketing and administrative expenses were $80,500. (Use a minus sign or EE(Click the icon to view the actual results.) i Data Table - X (Click the icon to view related variances.) DL efficiency variance Variable MOH rate variance Direct materials price variance $ 1,809 U Direct materials quantity variance $1, 170 U Variable MOH efficiency variance $9, 100 F Fixed MOH budget variance Direct labor rate variance Direct labor efficiency variance $12,350 U Fixed MOH volume variance Variable MOH rate variance $1,820 U Total manufacturing variances Variable MOH efficiency variance $4,550 U Cost of goods sold (at actual) Fixed MOH budget variance $200 F Fixed MOH volume variance $1,000 F Gross profit (actual) Marketing and administrative expenses Print Done Operating income (loss)
