Juda Recliners manufacturers leather recliners and uses flexible budgeting and a standard cost system. Juda allocates overhead based on yards of direct materials. The company's performance report includes the following selected data: Requirement 1. Prepare the flexible budget for actual outputs.

Juda Recliners Flexible Budget for Actual Outputs

Sales revenue ?

Variable manufacturing costs ?

Direct Materials ?

Direct labor ?

Variable overhead ?

Fixed costs ?

Fixed overhead ?

Total cost of goods sold ?

Gross profit ?

Requirement 2. Let's first compute the price variances for direct materials and direct labor and select if the amount is favorable or unfavorable.(round your answer to the nearest whole dollar.)

Direct Materials

Direct labor

Next compute the efficiency variances for direct materials and direct labor and select if the amount is favorable or unfavorable. (round your answer to the nearest whole dollar.)

Direct materials

Direct labor

Now compute the total variance, the flexible budget variance, and the production volume variance for manufacturing overhead.(round your answer to nearest whole dollar.)

Juda Recliners Manufacturing Overhead Variances:

Total overhead variance:

Actual overhead cost ?

Standard overhead allocated to production ?

Total overhead variance ?

Overhead flexible budget variance:

Actual overhead cost ?

Flexible budget overhead for actual outposts ?

Overhead flexible budget variance ?

Production volume variance:

Flexible budget overhead for actual outputs ?

Standard overhead allocated to production ?

Production volume variance ?

Sales (1,000 recliners x (980 recliners x $505 $480 Variable manufacturing costs: Direct materials Direct labor Variable overhead Fixed manufacturing costs: Fixed overhead Total cost of goods sold Gross profit Static Budget Actual Results (1,000 recliners) (980 recliners) $505,000 $470,400 ) ) (6,000 yds @ (6,150 yds @ (10,000 hrs. @ (9,600 hrs. @ $9.40 $9.60 (6,000 yds @ (6,150 yds @ $8.90 $8.70 ) ) $5.20 $6.60 ) ) 53400 53505 94000 92160 ) ) 31200 40590 60600 239200 $265,800 62600 248855 $221,545