Juda Recliners manufactures 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: (Click the icon to view the selected data.) Read the requirements. Requirement 1. Prepare a flexible budget based on the actual number of recliners sold. (Round budget amounts per unit to the nearest cent.) Juda Recliners Data Table Flexible Budget Budget Amounts Requirements Actual Results (980 recliners) per Unit Static Budget (1,000 recliners) $ 510,000 Actual Units (Recliners) Sales Revenue 465,500 Variable Manufacturing Costs: Direct Materials 1. Prepare a flexible budget based on the actual number of recliners sold. 2. Compute the cost variance and the efficiency variance for direct materials and for direct labor. For manufacturing overhead, compute the variable overhead cost, variable overhead efficiency, fixed overhead cost, and fixed overhead volume variances. Round to the nearest dollar. 3. Have Juda's managers done a good job or a poor job controlling materials, labor, and overhead costs? Why? 4. Describe how Juda's managers can benefit from the standard costing system. 53,400 Direct Labor Sales (1,000 recliners x $510 each) (980 recliners x $475 each) Variable Manufacturing Costs: Direct Materials (6,000 yds. @ $8.90 / yd.) (6,143 yds. @ $8.70 / yd.) Direct Labor (10,000 DLHr @ $9.20 / DLHr) (9,600 DLHr @ $9.40 / DLH) Variable Overhead (6,000 yds. @ $5.20 / yd.) (6,143 yds @ $6.60 / yd.) Fixed Manufacturing Costs: 53,444 Variable Overhead 92,000 Fixed Manufacturing Costs: 90.240 31,200 Fixed Overhead Print Done 40,544 Total Cost of Goods Sold Gross Profit 60,600 62,600 Fixed Overhead Total Cost of Goods Sold 237,200 246,828 $ 272,800 $ 218,672 Gross Profit Print Done Enter any number in the edit fields and then click Check Answer. ? parts remaining Clear All Check