Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Majestic Corporation manufactures wheelbarrows and uses budgeted machine hours to allocate variable manufacturing overhead. The following information relates to the company's manufacturing overhead data: Budgeted

Majestic Corporation manufactures wheelbarrows and uses budgeted machine hours to allocate variable manufacturing overhead. The following information relates to the company's manufacturing overhead data: Budgeted output units Budgeted machine-hours Budgeted variable manufacturing overhead costs for 43,250 units Actual output units produced Actual machine-hours used Actual variable manufacturing overhead costs 43,250 units 17,300 hours $363,300 45,250 units 14,600 hours $381,755 What is the flexible-budget variance for variable manufacturing overhead? A. $1,655 favorable B. $18,455 unfavorable C. $1,655 unfavorable D. $18,455 favorable ... Jean Peck's Furniture manufactures tables for hospitality sector. It takes only bulk orders and each table is sold for $300 after negotiations. In the month of January, it manufactures 3,300 tables and sells 2,700 tables. Actual fixed costs are the same as the amount of fixed costs budgeted for the month. Budgeted production is equal to actual production, and there is no production-volume variance. The following information is provided for the month of January: Variable manufacturing costs $150 per unit Fixed manufacturing costs $90,000 per month Fixed Administrative expenses $27,000 per month At the end of the month Jean Peck's Furniture has an ending inventory of finished goods of 600 units. The company also incurs a sales commission of $12 per unit. What is the operating income when using absorption costing? (Round any intermediary calculations to the nearest cent and your final answer to the nearest dollar.) OA. $331,371 B. $298,971 C. $271,971 D. $304,371 Radon Corporation manufactured 38,000 units during March. The following fixed overhead data pertain to March: Static Budget Production Actual 38,000 units 35,000 units Machine-hours 7,100 hours Fixed overhead costs for March $163,100 7,000 hours $154,000 What is the fixed overhead production-volume variance? A. $9,100.00 favorable B. $9,100.00 unfavorable C. $13,200.00 favorable D. $13,200.00 unfavorable

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

Step: 3

blur-text-image

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

Understanding Your Financial Calculator

Authors: Kaplan Financial

1st Edition

1419559818, 978-1419559815

More Books

Students also viewed these Accounting questions

Question

Consider this article:...

Answered: 1 week ago