Grand Display is a mangacturer of large flower pots for urban settings. The company has these standards.

Homework: Chapter II Homework - Exercises < Question 5, El 144A (similar to) O Points: O of 18 Prepare a standard cost income statement for the companys management Assume that sales were S705.OOO and actual marketing and administrative expenses were 90.500. uestion list Question 1 Question 2 Question 3 Question 4 Data table Grand Display is a manufacturer of large flower 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 ) Grand Display Standard Cost Income Statement Month Ended Manufacturing cost variances x Data table (use a minus sign or parentheses for favorable variances ) Data table Direct materials price variance Direct materials quantity variance Direct labor rate variance Direct labor emciency variance Variable MOH rate variance Variable MOH emciency variance Fixed MOH budget vanance Fixed MOH volume variance print x s 11.975 u $6,300 u 9.600 F S7,800 u Sl.eoo u 9.600 u $200 F 9.000 F Last month, the company reported the following actual results for the production of 1.500 no-wer pots Direct materials...... Direct labor.... Actual variable manufacturing overhead . Purchased 23.950 pounds at a cost of $6 50 per pound. used 23.550 pounds to produce 1.500 pots Worked 24 hours per flower pot (3.600 total DLH) at a cost of $12 00 per hour $6, 50 per direct labor hour for total actual variable . manufacturing overhead of S23,400 Direct materials (resin) Direct labor.. Standard variable manufacturing overhead rate . Budgeted fixed manufacturing overhead . Standard fixed MOH rate..... 15 pounds per pot at a cost ot $6 00 per . pound hours atacostofS1300per hour S6 00 per direct labor hour ...S21.ooo , $8 00 per direct labor hour (DLH) Actual fixed manufacturing overhead $20,800 Standard fixed manufacturing overhead allocated based on actual $24.000 production.... Grand Display allocates manufacturing overhead to production based on standard direct labor hours The cost of goods sold at standard cost totaled S216,OOO