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Wilt Toy Company manufactures plate wwiing pools Westwood Pant. The plant has been experiencing problems as shown by Dune contribution for et income statement belor Sat7.00) Wate rood w va Total CM an FL www Strative TF (es) Aca 12.120.00 9,240 97,525 22.0 15 w 5). 1000 TO e Contains direct directinboc and variable manufacturing overhead Janet Dumn who been appointed general manager of the Westwood Plant has been given instructions to get things ander controll Upon reviewing the plants income statement Mo. Dunn has concluded that the major problem lies in the variable cout of goods old. She has been provided with the following standard couter swiming pool Stad Rate 12. Otwarte D Var Test rundt NS 6.4 M hors east 7.5 04 1. EL "Boved on machine hours During June the plant produced 7,000 pools and incurred the following costs Purchased 29.500 pounds of materials cost of $2,55 pound. b. Used 24,300 pounds of materials in production finished goods and work in procesa inventates are higricant and can be gnored Worked 3.400 direct laborhours at a cost of $730 per hout d. incurred variable manufacturing overhead cost totaling 58.400 for the month. A total of 2.400 machine hours was recorded the company policy to close all variances to cost of goods sold on any basis Required 1.Compute the following variances for June Mate price and quantity variances Laborate and efficiency variances Variable overhead te snd efficiency variances 2. Summertime variences that you computed above by showing the net overleverable nce for the one Complete this question by entering your awers in the he a. Com the gwarance for users prior and was i. Come the forces for naborandingan Compute the following area, verhead and waren the effect of the acting you and har foret , cu ENDE Miler Toy Company manufactures a plastic swimming pool at its Westwood Plant. The plant has been experiencing problems as shown by its June contribution format income statement below Actual 126 1265.000 19.20 97.525 1.NO Sales (7,0 pools) Variable Variable out of pods sold Varis selling Total warble cupen Contribution www Mastering overhead Selling and destrative 15,75 17.00 15.000 11. 153, 14,75 (1.55) train the loss) Contains orect materials, direct labor, and variable manufacturing overhead Janet Dunn, who has just been appointed general manager of the Westwood Plant has been given instructions to get things under control. Upon reviewing the plant's income statement, Ms Dunn has concluded that the major problems in the variable cost of goods sold. She has been provided with the following standard cost per swimming pool Quantity 3.5 pounds teater Det er ale actieverhead Total standard cut it or Rate 12.1 per pound 11. pero $ 1.1 Cost . 3.4 0. 0.1 Based on machine-hours During June the plant produced 7,000 pools and incurred the following costs Purchased 29,500 pounds of materials at a cost of $2.55 per pound. b. Used 24.300 pounds of materials in production (Finished goods and work in process inventories are insignificant and can be Ignored Worked 2.400 orect labor-hours a cost of $730 per hour a incurred variable manufacturing overhead controlling $8,400 for the month A total of 2400 machine hour was recorded. to the company's policy to close all variances to cont of goods sold on a monthly basis Required: Compute the following variances for June Materials price and quantity variances Laborate and efficiency variances Variable overhead rate and efficiency wariances 2. summarice the variances that you computed in tsbove by showing the net overall favorable or unfavorable variance for the month Complete the question by entering answers in the table. Wilt Toy Company manufactures plate wwiing pools Westwood Pant. The plant has been experiencing problems as shown by Dune contribution for et income statement belor Sat7.00) Wate rood w va Total CM an FL www Strative TF (es) Aca 12.120.00 9,240 97,525 22.0 15 w 5). 1000 TO e Contains direct directinboc and variable manufacturing overhead Janet Dumn who been appointed general manager of the Westwood Plant has been given instructions to get things ander controll Upon reviewing the plants income statement Mo. Dunn has concluded that the major problem lies in the variable cout of goods old. She has been provided with the following standard couter swiming pool Stad Rate 12. Otwarte D Var Test rundt NS 6.4 M hors east 7.5 04 1. EL "Boved on machine hours During June the plant produced 7,000 pools and incurred the following costs Purchased 29.500 pounds of materials cost of $2,55 pound. b. Used 24,300 pounds of materials in production finished goods and work in procesa inventates are higricant and can be gnored Worked 3.400 direct laborhours at a cost of $730 per hout d. incurred variable manufacturing overhead cost totaling 58.400 for the month. A total of 2.400 machine hours was recorded the company policy to close all variances to cost of goods sold on any basis Required 1.Compute the following variances for June Mate price and quantity variances Laborate and efficiency variances Variable overhead te snd efficiency variances 2. Summertime variences that you computed above by showing the net overleverable nce for the one Complete this question by entering your awers in the he a. Com the gwarance for users prior and was i. Come the forces for naborandingan Compute the following area, verhead and waren the effect of the acting you and har foret , cu ENDE Miler Toy Company manufactures a plastic swimming pool at its Westwood Plant. The plant has been experiencing problems as shown by its June contribution format income statement below Actual 126 1265.000 19.20 97.525 1.NO Sales (7,0 pools) Variable Variable out of pods sold Varis selling Total warble cupen Contribution www Mastering overhead Selling and destrative 15,75 17.00 15.000 11. 153, 14,75 (1.55) train the loss) Contains orect materials, direct labor, and variable manufacturing overhead Janet Dunn, who has just been appointed general manager of the Westwood Plant has been given instructions to get things under control. Upon reviewing the plant's income statement, Ms Dunn has concluded that the major problems in the variable cost of goods sold. She has been provided with the following standard cost per swimming pool Quantity 3.5 pounds teater Det er ale actieverhead Total standard cut it or Rate 12.1 per pound 11. pero $ 1.1 Cost . 3.4 0. 0.1 Based on machine-hours During June the plant produced 7,000 pools and incurred the following costs Purchased 29,500 pounds of materials at a cost of $2.55 per pound. b. Used 24.300 pounds of materials in production (Finished goods and work in process inventories are insignificant and can be Ignored Worked 2.400 orect labor-hours a cost of $730 per hour a incurred variable manufacturing overhead controlling $8,400 for the month A total of 2400 machine hour was recorded. to the company's policy to close all variances to cont of goods sold on a monthly basis Required: Compute the following variances for June Materials price and quantity variances Laborate and efficiency variances Variable overhead rate and efficiency wariances 2. summarice the variances that you computed in tsbove by showing the net overall favorable or unfavorable variance for the month Complete the question by entering answers in the table