HELP WITH C$!$ Sheffield Corporation accumulates the following data relative to jobs started and finished during the month of June $2020.$

Overhead is applied on the basis of standard machine hours. $3\mathrm{.}00$ hours of machine time are required for each direct labor hour. The

jobs were sold for $$495,000.$ Selling and administrative expenses were $$39,300.$ Assume that the amount of raw materials purchased

equaled the amount used.

$($a$)$

Your Answer

Correct Answer

Your answer is correct.

Compute all of the variances for $(1)$ direct materials and $(2)$ direct labor. $($Round per unit values to $2$ decimal places, e$.$g$.52\mathrm{.}75$ and

final answers to $0$ decimal places, e$.$g$.52.)$

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Solution

Attempts: $1$ of $1$ used

$($b$)$

Correct Answer $($Used$)$

Compute the total overhead variance.

Total overhead variance $

$($c$)$

Prepare an income statement for management. $($Ignore income taxes.$)($Round per unit values to $2$ decimal places, e$.$g$.52\mathrm{.}75$ and final

answers to $0$ decimal places, e$.$g$.52.)$

SHEFFIELD CORPORATION

Income Statement

$

$[$

$$

$

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