Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I only get credit for the question if It is answered in excel formulas only. For example, =B12+A8 or =SUM(E4:E9). Please just show the excel

I only get credit for the question if It is answered in excel formulas only. For example, =B12+A8 or =SUM(E4:E9). Please just show the excel formula's and answers used.

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Bullseye Company manufactures dartboards. Its standard cost information follows: Standard Quantity Standard Price (Rate) Standard Unit Cost Direct materials (cork board) 2.5 sq. ft. $2.00 per sq. ft. $5.00 Direct labor 1 hr. $14.00 per hr. 14.00 Variable manufacturing overhead (based on direct labor hours) 1 hr. $ 0.50 per hr. 0.50 Fixed manufacturing overhead ($40,000 = 160,000 units) 0.25 Bullseye has the following actual results for the month of September: Number of units produced and sold 140,000 Number of square feet of corkboard used 360,000 Cost of corkboard used $ 756,000 Number of labor hours worked 148,000 Direct labor cost $1,938,800 Variable overhead cost $ 72,000 Fixed overhead cost $ 50,000 PA95 Calculating Fixed Manufacturing Overhead Spending, Volume Variances QLO 9-S1 Refer to the information in @ PA9-4. Required: Calculate the following for Bullseye: 1. Fixed overhead spending variance. 2. Fixed overhead volume variance. 3. Total over- or underapplied fixed manufacturing overhead. A B D E F. G H K - 4 Columnar Approach 7 Std. Price/ Std. Rate $2.00 $14 $0.50 Std. Unit Cost $5 $14 $0.50 $0.25 1 1 Square feet Per hour Per hour Material Actual at Standard SP*AQ Actual Actual Flex. Bdgt. Or Standard Sp*Sq*AV 5 Given Data: 6 Standard 8 Quantity 9 Direct Materials 2.5 10 Direct Labor 11 VMOH based on DLHs 12 FMOH ($40k/160K units $40,000 13 Budgeted Units 160,000 14 15 Units produced and sold 140,000 16 Num. sq. ft. corkboard used 360,000 17 Cost of used corkboard $756,000 18 Labor hours worked 148,000 19 Direct labor cost $1,938,800 20 Var. OH cost $72,000 21 Fixed OH cost $50,000 22 23 24 Amount Fav/Unfav Material Variances: Price Quantity Total Labor Actual at Standard SR * AH Actual Actual Flex Bdgt or Standard SR * Sh * AV 25 26 27 Amount Fav/Unfav 28 29 30 31 32 33 Labor Variances: Rate Efficiency Total A B C D E F G H J Amount Fav/Unfav Labor Variances: Rate Efficiency Total Variable Overhead Actual at Standard SR * AH Actual Actual Flex Bdgt or Standard SR * Sh * AV Amount Fav/Unfav 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 Variable OH Variance Rate Efficiency Total Fixed Overhead Actual Budget Applied Fixed Overhead Variance Amount Fav/Unfav Spending Volume Total

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

GAO Financial Audit Manual Volume 2 Updated March 2021

Authors: United States Government GAO

2021 Edition

B091WM9DZW, 979-8733082875

More Books

Students also viewed these Accounting questions

Question

If it is not an appropriate tactic, what are some alternatives?

Answered: 1 week ago

Question

8.4 What two methods can employees use to make decisions?

Answered: 1 week ago