Genuine Spice Inc. began operations on January 1 of the current year. The company produces 8-ounce bottlies of hand and case. There is a selling commission of $20 per case. The January direct materials, direct labor, and factory overhead costs are as follows body lotion caled Etermal Beauty. The lotion is soid wholesale in 12-bottle caves for $100 per 0.02 0.30 0.50 $2.00 9.00 urai ois variable Bottle (8-oz.)Variable 30023. 12 bottles DIRECT LABOR Department Behavior Cost per 20 min. ring MacBook 20 p 7 Supplies of Genuine Splce Inc. wishes to determine the number of cases required to break even per month. The utities cost, which is part of factory gathered from the first six months of operation regarding this cost MacBook Air gathered from the first six months of operation regarding this cost $600 February 1. Determine the foced and variable portions of the ubity cost using the high-low method. Round the per unit cost to the Variable cost per unt Total fixed cest 2. Determine the contribution margin per case. Enter your answer to the Contribation margin pr cae MacBook Air 6 4 1 Cream Base (ors.) (bottles) Desired materials inventory, August 31 1,000 240 There was negigble work in process menory assumed tr ether tho begreng or edofne-h, tes, none .s mame. In addition, there was no charge is the cost per unt er eenwed units per case operating data from January Required S. Prepare the August production budget. Enter all amounts as positive numbers Preduction Budget Previous e MacBook Air 80 Required: 5. Prepare the August production budget. Enter all amounts as positive numbers. Genuine Spice Inc. Production Budget For the Month Ended August 31 Cases 6. Prepare the August direct materials purchases budget. Enter the unit price to the nearest cent. Enter all amount Genuine Spice Inc. Direct Materials Purchases Budget For the Month Ended August 31 Cream Base (ozs.) Natural Oils (ozs.) Bottles (bottles) Direct M Total Genuine Spice Inc. Direct Labor Cost Budget Total Filling Total Factory overhead Total 10. Determine the direct materials price and quantity variances for the three matenials. Enter the costs in dollars and cents ( Direct Materials Price Variance Difference btls. Direct Materials quantity Variance: l Oils Standard quantity Standard price Direct materials quantity variance Indicate if favorable or unfavorable 11. Determine the direct labor rate and time variances for the two departments. Do not round hours Enter the costs in doilars and cents. Enter all amounts as positive numbers Direct Labor Rate Variance: Actual rate Standard rate Direct Standard time (hours) Difference Standard rate Direct labor time variance Indicate if favorable or unfavorable 12. Determine the factory overhead controilable vanance. Enter a Actual variable overhead Variable overhead at standard cost Unfavorable Factory overhead controliable variance 13. Determine the factory overhead volume vaniance Round rate to two decimal places and round your final answer to two decimal places. Enter all amounts as positive Normal volume (cases) Actual volume (cases) s: 3/3 Factory overhead controllable variance 13. Determine the factory overhead volume variance. Round rate to two decimal places and round your final answer to two decimal places. Enter all amounts as positive numbers Factory overhead volume variance Indicate if favorable or unfavorable cases was planned at the beginning of August. The vaniances compare the actual cost and the standard cost of for the month. Thus, the standard cost must be based on the
