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i need help with part c. it is the last 2 pictures because i couldnt fit the income statement into one picture. i hope this
i need help with part c. it is the last 2 pictures because i couldnt fit the income statement into one picture. i hope this works!
Bonita Corporation accumulates the following data relative to jobs started and finished during the month of June 2022. Actual $240 11,300 Standard $2 10,500 $127,680 15,200 $133,500 15.000 Costs and Production Data Raw materials unit cost Raw materials units Direct labor payroll Direct labor hours Manufacturing overhead incurred Manufacturing overhead applied Machine hours expected to be used at normal capacity Budgeted fixed overhead for June Variable overhead rate per machine hour Fixed overhead rate per machine hour $235,736 $238,336 42.500 $72.250 $3.20 $1.70 Overhead is applied on the basis of standard machine hours. Three hours of machine time are required for each direct labor hour. The jobs were sold for $450,000. Selling and administrative expenses were $44,300. Assume that the amount of raw materials purchased equaled the amount used Question 1 of 4 23.33/35 E (a) 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, 6.8 52.75 and final answers to decimal places, e.g. 52.) Total materials variance $ -6120 Unfavorable $ Materials price variance -15201 Unfavorable . Materials quantity variance $ 16001 Unfavorable (2) $ Unfavorable Total labor variance -5820 1 $ Labor price variance Unfavorable 7500 i $ Labor quantity variance Favorable 1680 List of Accounts (b) Your answer is correct Compute the total overhead variance. Total overhead variance 2000 1 Favorable List of Accounts Attempts: 2 of 3 used (c) Prepare an income statement for management. Ognore Income taxes. (Round per unit values to 2 decimal places. e. 52.75 and final answers to decimal places, ex. 52.) BONITA CORPORATION Income Statement List of Accounts Attempts: 0 of 3 used Submit Answer Save for Step by Step Solution
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