Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

la labie ber Static Budget (975 Actual Results recliners) (955 recliners) $ 502,125 $ 453,625 49,725 49,692 112,125 Sales (975 recliners x $515 each) (955

image text in transcribed
image text in transcribed
image text in transcribed
la labie ber Static Budget (975 Actual Results recliners) (955 recliners) $ 502,125 $ 453,625 49,725 49,692 112,125 Sales (975 recliners x $515 each) (955 recliners x $475 each) Variable Manufacturing Costs: Direct Materials (5,850 yds @ $8.50 / yd.) (5,987 yds @ $8.30 / yd.) Direct Labor (9,750 DLHr @ $11.50 / DLHO) (9,350 DLHr @ $11.70 / DLHR) Variable Overhead (5,850 yds @ $5.30 / yd.) (5,987 yds @ $6.70/yd.) Fixed Manufacturing Costs: Fixed Overhead Total Cost of Goods Sold Gross Profit 109,395 31,005 40,113 60,255 62,255 253, 110 261,455 $ 249,015 $ 192,170 fiance Print Done Incy, fixe: ute th your ans Code Rediners manufacturer inomer recheers and uses ferite budgering and a standard cost system. Cole allocates overhead based on yard of Genct materials. The company's performance report includes the following selected due De to view the data Read the Requirement. Prepare a ferible busput based on the actual number of racines sold Round Hudget amounts per un to the nearest cant) Cole Reims Fluidget Budget Amounts Actual Under SR Variable Mancing Com Dius Maari Director Variatie Overhead Marading Co. Frede To Costa de Hoquement 2. Compute the cont value and they wine for det er en director. Formativo cortofte variabile video varute whand Bed overhead could rette volume von Round the them with the center concent verwoeste estate and ready water en variace s tevoren under her wet Act Ny Food werden Die Netcome the convento del redde.com wet natura de care le vert and we were ACADFORCE Demon Die Now compute the values and coll und eichny tance. Stact te regned tomele compare the variable overhead coat valence and endly whatet och variante la tevarate per un terre and you need Avions Accort Dada Pohode SC standardot sada Vovat VO VO More competitie Bedevabast cant and yetene vatances Select the required fortes, compare the band retail en ons veuen valence me tursky whether each vatten se trouvable For unterwe i Red your answer to test tulee Na od standard Vance For convince FOR Volume Vince Requirement. Cole's dones good job orsporo cooling mellabat de ce? Why The varianta mped in Request phat the pershave done scoring materials and aborcom. The are materiale const verlede med det luba olemeyen and directors cancy variance Manager have done scoring retend contevidenced by the fact that of the weed Valances are Requirement 4. Decibe how Coll's angers can be from the standard contingut Santars corg inpamaagars to her talenting Requirements 1. 2. Prepare a flexible budget based on the actual number of recliners sold. 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. Have Cole's managers done a good job or a poor job controlling materials, labor, and overhead costs? Why? Describe how Cole's managers can benefit from the standard costing system. 3. 4. C Print Done

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

Financial Accounting

Authors: Walter Harrison, Wendy Tietz, C. Thomas, Greg Berberich, Catherine Seguin

7th Canadian Edition

0135433061, 9780135433065

More Books

Students also viewed these Accounting questions

Question

2. Whats involved in listening?

Answered: 1 week ago

Question

1. How do listening and hearing diff er?

Answered: 1 week ago