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I just need help double checking my work please ASAP Thank You Sedona Company set the following standard costs for one unit of its product
I just need help double checking my work please ASAP Thank You
Sedona Company set the following standard costs for one unit of its product for 2013. Direct material (15 Ibs. @ $3.80 per Ib.) Direct labor (10 hrs. @ $9.40 per hr.) Factory variable overhead (10 hrs. @ $4.20 per hr.) Factory fixed overhead (10 hrs. @ $2.50 per hr.) $ 57.00 94.00 42.00 25.00 Standard cost $ 218.00 The $6.70 ($4.20 + $2.50) total overhead rate per direct labor hour is based on an expected operating level equal to 60% of the factory's capacity of 64,000 units per month. The following monthly flexible budget information is also available. Opera ting Levels (% of capaci ty) 55% Budg eted output (units) Budg eted labor (stand ard hours) Budg eted overh ead (dollar s) Var iable 60% 65% 35,200 38,400 41,60 0 352,00 0 384,00 0 416,0 00 $ 1,478, 400 $ 1,612, 800 $ 1,747, 200 overh ead Fix ed overh ead Tot al overh ead 960,0 00 $ 960,0 00 2,438, 400 $ 2,572, 800 960,0 00 $ 2,707, 200 During the current month, the company operated at 55% of capacity, employees worked 334,000 hours, and the following actual overhead costs were incurred. Variable overhead costs Fixed overhead costs Total overhead costs $ 1,421,000 1,024,000 $ 2,445,000 11. value: 10.00 points 1. Compute the variable overhead spending and efficiency variances. (Round "AVR" and "SVR" to 2 decimal places.) 12. value: 10.00 points 2. Compute the fixed overhead spending and volume variances. (Round "AFR" and "SFR" to 2 decimal places.) 13. value: 10.00 points 3. Compute the controllable variance. Hart Company made 3,400 bookshelves using 23,000 board feet of wood costing $287,500. The company's direct materials standards for one bookshelf are 8 board feet of wood at $12.40 per board foot. (1) Compute the direct materials variances incurred in manufacturing these bookshelves. (Round "AP" and "SP" to 2 decimal places.) Hart Company made 3,400 bookshelves using 23,000 board feet of wood costing $287,500. The company's direct materials standards for one bookshelf are 8 board feet of wood at $12.40 per board foot. (1) Compute the direct materials variances incurred in manufacturing these bookshelves. (Round "AP" and "SP" to 2 decimal places.) Electro Company manufactures an innovative automobile transmission for electric cars. Management predicts that ending inventory for the first quarter will be 38,300 units. The following unit sales of the transmissions are expected during the rest of the year: second quarter, 220,000 units; third quarter, 499,000 units; and fourth quarter, 246,000 units. Company policy calls for the ending inventory of a quarter to equal 32% of the next quarter's budgeted sales. Each transmission requires 4.00 direct labor hours, at a cost of $17.80 per hour. Prepare a direct labor budget for the second quarterStep by Step Solution
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