Genie in a Bottle Company (GBC) manufactures plastic two-liter bottles for the beverage industry. The cost standards per 100 two-liter bottles are as follows:

Cost Category Standard Cost

per 100 Two-Liter

Bottles

Direct labor $1.48

Direct materials 4.94

Factory overhead 0.32

Total $6.74

At the beginning of July, GBC management planned to produce 670,000 bottles. The actual number of bottles produced for July was 723,600 bottles. The actual costs for July of the current year were as follows:

Cost Category Actual Cost for the

Month Ended July 31

Direct labor $10,495

Direct materials 34,888

Factory overhead 2,339

Total $47,722

Enter all amounts as positive numbers.

a. Make ready the July manufacturing standard cost budget (direct labor, direct materials, and factory overhead) for WBC, assuming planned production.

Genie in a Bottle Company

Manufacturing Cost Budget

For the Month Ended March 31

Standard Cost at

Planned Volume

(670,000 Bottles)

Manufacturing costs:

Direct labor$?

Direct materials$?

Factory overhead$?

Total$

b. make ready a budget performance report for manufacturing costs, showing the total cost variances for direct materials, direct labor, and factory overhead for July. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Round your answers to two decimal places.

Genie in a Bottle Company

Manufacturing Costs-Budget Performance Report

For the Month Ended March 31

Actual Costs Standard Cost Cost

at Actual Volume

(723,600 Bottles) Variance-

(Favorable)

Unfavorable Manufacturing costs:

Direct labor $? $? $?

Direct materials $? $? $?

Factory overhead. $? $? $?

Total manufacturing cost $? $? $?