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I've tried but still stuck and really need some assistance. Please include formulas 1 I Data table A B Budgeted Fixed Manufacturing Overhead per Period

I've tried but still stuck and really need some assistance. Please include formulas

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1 I Data table A B Budgeted Fixed Manufacturing Overhead per Period D E Days of Hours of Production Production Barrels per per Period per Day Hour 1 Denominator-Level Capacity Concept $ 28,200,000 356 24 540 $ 28,200,000 340 20 510 2 Theoretical capacity 3 Practical capacity 4 Normal capacity utilization Master-budget capacity utilization for 5 each half year: $ 28,200,000 340 20 400 6 (a) January-June 2020 $ 14,100,000 170 20 320 7 (b) July-December 2020 $ 14,100,000 170 20 480 - Requirements 1. Compute the budgeted fixed manufacturing overhead rate per barrel for each of the denominator-level capacity concepts. Explain why they are different. 2. In 2020, the Jacksonville Brewery reported these production results: A B 12 Beginning inventory in barrels, 1-1-2020 13 Production in barrels 2,610,000 14 Ending inventory in barrels, 12-31-2020 220,000 15 Actual variable manufacturing costs $ 78,430,500 16 Actual fixed manufacturing overhead costs $ 27,600,000 There are no variable cost variances. Fixed manufacturing overhead cost variances are written off to cost of goods sold in the period in which they occur. Compute the Jacksonville Brewery's operating income when the denominator-level capacity is (a) theoretical capacity, (b) practical capacity, and (c) normal capacity utilization. Lucky Lager has just purchased the Jacksonville Brewery. The brewery is 2 years old and uses absorption costing. It will "sell its product to Lucky Lager at $48 per barrel. Peter Bryant, Lucky Lager's controller, obtains the following information about Jacksonville Brewery's capacity and budgeted fixed manufacturing costs for 2020: (Click the icon to view the information) Read the requirements Requirement 1. Compute the budgeted fixed manufacturing overhead rate per barrel for each of the denominator-level capacity concepts. Explain why they are different Begin by determing the formula to calculate the budgeted fixed manufacturing overhead rate per barrel, then compute the rate for each of the denominator-level capacity concepts. (Abbreviations used: Budg = budgeted, MOH = manufacturing overhead. Round the rates to the nearest cent.) Budgeted fixed Budg, denominator level (barrels) MOH rate per barrel Budg. fixed MOH per period + 28,200,000 4.613,760 $ 6.11 28,200,000 + 3,468.000 = S 8.13 28,200,000 - 2 720 000 $ 10.37 Theoretical capacity $ Practical capacity $ Normal capacity utilization $ Master-budget capacity for each half year: (a) January-June 2020 S (b) July-December 2020 S 14.100.000 1.088.000 - S 12.96 14.100.000 1.632.000 $ 8.84 Explain why they are different. The theoretical and practical capacity concepts emphasize supply factors, while normal capacity utilization and master-budget utilization concepts emphasize demand factors. The six-month rates for the master budget utilization concept are different because of seasonal differences in budgeted production. Requirement 2. Compute the Jacksonville Brewery's operating income when the denominator-level capacity is (a) theoretical capacity. (b) practical capacity, and (c) normal capacity utilization. Begin by completing the following table to help you compute the operating income for each denominator-level capacity concept. (Round the rates to the nearest cent.) Per barrel Budgeted fixed MOH rate Budgeted variable mfg Budgeted total mg cast rate Fixed MOH per barrel cost rate costs allocated Denominator-level capacity concept Theoretical capacity Practical capacity Normal capacity utilization $ 6.11 $ 30.05 $ 36.16 $ 8.13 30.05 38.18 15,947,100 21.219,300 27.065.700 10.37 30.05 40.42 Now compute the operating income for each capacity concept, one at a time. Label the variances as favorable (F) or unfavorable (U). (Enter a "0" for any zero balance accounts.) Theoretical Practical capacity capacity Revenues S 114.720.000 114,720,000 Cost of goods sold Beginning inventory S S 0 0 0 Variable manufacturing costs 78.430.500 78.430,500 15.947.100 Fixed manufacturing overhead cost allocated 21,219,300 Cost of goods available for sale 94 377 600 214359800 Deduct ending inventory (7.955,200) (8399600) Adjustment for variances 11,652.900 U 6376917 U Cost of goods sold 98 075 300 212337017 Gross margin 16,644.700 Other costs 0 0 0 S 16.644.700 Operating income 1 I Data table A B Budgeted Fixed Manufacturing Overhead per Period D E Days of Hours of Production Production Barrels per per Period per Day Hour 1 Denominator-Level Capacity Concept $ 28,200,000 356 24 540 $ 28,200,000 340 20 510 2 Theoretical capacity 3 Practical capacity 4 Normal capacity utilization Master-budget capacity utilization for 5 each half year: $ 28,200,000 340 20 400 6 (a) January-June 2020 $ 14,100,000 170 20 320 7 (b) July-December 2020 $ 14,100,000 170 20 480 - Requirements 1. Compute the budgeted fixed manufacturing overhead rate per barrel for each of the denominator-level capacity concepts. Explain why they are different. 2. In 2020, the Jacksonville Brewery reported these production results: A B 12 Beginning inventory in barrels, 1-1-2020 13 Production in barrels 2,610,000 14 Ending inventory in barrels, 12-31-2020 220,000 15 Actual variable manufacturing costs $ 78,430,500 16 Actual fixed manufacturing overhead costs $ 27,600,000 There are no variable cost variances. Fixed manufacturing overhead cost variances are written off to cost of goods sold in the period in which they occur. Compute the Jacksonville Brewery's operating income when the denominator-level capacity is (a) theoretical capacity, (b) practical capacity, and (c) normal capacity utilization. Lucky Lager has just purchased the Jacksonville Brewery. The brewery is 2 years old and uses absorption costing. It will "sell its product to Lucky Lager at $48 per barrel. Peter Bryant, Lucky Lager's controller, obtains the following information about Jacksonville Brewery's capacity and budgeted fixed manufacturing costs for 2020: (Click the icon to view the information) Read the requirements Requirement 1. Compute the budgeted fixed manufacturing overhead rate per barrel for each of the denominator-level capacity concepts. Explain why they are different Begin by determing the formula to calculate the budgeted fixed manufacturing overhead rate per barrel, then compute the rate for each of the denominator-level capacity concepts. (Abbreviations used: Budg = budgeted, MOH = manufacturing overhead. Round the rates to the nearest cent.) Budgeted fixed Budg, denominator level (barrels) MOH rate per barrel Budg. fixed MOH per period + 28,200,000 4.613,760 $ 6.11 28,200,000 + 3,468.000 = S 8.13 28,200,000 - 2 720 000 $ 10.37 Theoretical capacity $ Practical capacity $ Normal capacity utilization $ Master-budget capacity for each half year: (a) January-June 2020 S (b) July-December 2020 S 14.100.000 1.088.000 - S 12.96 14.100.000 1.632.000 $ 8.84 Explain why they are different. The theoretical and practical capacity concepts emphasize supply factors, while normal capacity utilization and master-budget utilization concepts emphasize demand factors. The six-month rates for the master budget utilization concept are different because of seasonal differences in budgeted production. Requirement 2. Compute the Jacksonville Brewery's operating income when the denominator-level capacity is (a) theoretical capacity. (b) practical capacity, and (c) normal capacity utilization. Begin by completing the following table to help you compute the operating income for each denominator-level capacity concept. (Round the rates to the nearest cent.) Per barrel Budgeted fixed MOH rate Budgeted variable mfg Budgeted total mg cast rate Fixed MOH per barrel cost rate costs allocated Denominator-level capacity concept Theoretical capacity Practical capacity Normal capacity utilization $ 6.11 $ 30.05 $ 36.16 $ 8.13 30.05 38.18 15,947,100 21.219,300 27.065.700 10.37 30.05 40.42 Now compute the operating income for each capacity concept, one at a time. Label the variances as favorable (F) or unfavorable (U). (Enter a "0" for any zero balance accounts.) Theoretical Practical capacity capacity Revenues S 114.720.000 114,720,000 Cost of goods sold Beginning inventory S S 0 0 0 Variable manufacturing costs 78.430.500 78.430,500 15.947.100 Fixed manufacturing overhead cost allocated 21,219,300 Cost of goods available for sale 94 377 600 214359800 Deduct ending inventory (7.955,200) (8399600) Adjustment for variances 11,652.900 U 6376917 U Cost of goods sold 98 075 300 212337017 Gross margin 16,644.700 Other costs 0 0 0 S 16.644.700 Operating income

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