Mcknight Recipen nanutactures teater raciners and uses foutie budanting and a standard core system. Meknight afecatus overhead based an yards of dred . report following lected Ciekte in to view the weed data) Read the recents Requirement 1. Pesare a textile budgw bined on the actual number of rechter die round buoit morto McKnight Rechers Fleche Budget Budget Amounts per Un Achan Red Sales Revenue Variable Maturg Costs Direct Mater Direct Labor Variable Otad Find afacering Costs Paed Overhead Tout Out of Good Cros Profit Requirement 2. Compute the cost wiance and the efficiency are for direct me and for director For manufacturing overat compute the variable Overhead con variable overhead efficiency, fred overhead cost and freedowerhead volume vrace Round to the nearest star Begin with the cost variances Select the required formulas, compute the cost variances for direct materials and direct laborant identify whether nach variance favorable (For unfavorable Round your answers to the nearest whole ACAQFOH overhead, Cadard cost sandard quantity Fomul Direct mais con variante Direct labor contre Neut compute the eficiency variance Select the required formim, compute the ceny wions for direct materials and director and idently whether each Variance is able (F) or unfavorable (U) Round you to the whole world. ACAQ - FOH fred Overhead Standard cost 50 ndard quart Fom Direct materials officiency wrance Direct laboratoency vortance Now compute the variable overhead cost and efficiency variances Select the required to compute the vale overhead cont deficiency wariances and dentify whether each vanance is favorable For unfavoratie (V). Round your own the newest whole Abbreviation AG actual GFOK fed everat SC standart cost, Standard quart. Ved Ford VOH con variance VoH fiecare Now compute the fixed Overhead cost and volume vananes Select the rear formula completo con volume variances, and only whetheach vario a favorable or unfavorable (U). Round you to the whole or treations AC AD cual quantity Fodovad: 5C and costadora Formule FOH con variance FOH che variante Requirement 3. Have McKnight's managers done a good job or a poor ad controlling materials, and when conte? Why? The varices computed in Requirements that the managers have done a obcing materials and labor costs. The material cost variance and direct laboreficcy variance help of the Sercote and direct materialen van Managers have done ob controling avemand costs as evidenced by the fact that of the dancese Budget Ammo Atten Variable Manufacturing Costs Direct Direct Variable Overhet Paad Stanut turg Costs Finderat Tot Cost of Good Grosso Requirement 2. Compare the covariance and the concerne for den tractor Formandang overhead.com he variable powead cost variatio overhead is our own cread come and fed arances. Round to the nearest all Begin with the cost variances Select the required formulas, compute the most variancestor direct materials and direct labor, and identity whether each variances favorable For untavorable Round your heart who dolorosa AC costAlthy FOH SC standard cost 50 For Directors are Next compute the incy variances Select the forma completings to direct and director and identity whether each wariance is favore Forum ( Und you to the Act AQFOH fred overhead SC - and so For Directory Direct laboreng verance Now compute the variable overhead cost and converance Serrured form.computer vi overhead cost and efficiency vriences and identify whether each Vorances tvorable or unfavorable Round your the sole Abbreviation AC cost. AD haluar FOH SC standard Standart VOH conce VOR Now.compute the fred overhead cost and voumevances Select the complete edhead cost and volume variances and identity whether each variance is volonterre (und your QFOH-dows SC-sand F FOH.com For volume variance Requirement. Have Mcknight managers done a good job or a poor color and over the cost? Why? The variances compted in Requirement 2 semanas done o cooling saber costs. The materials costariance and direct laborency variante Grectator cent vatance and direct materials aficiency variance Managers have done al controlling overheads as evidenced by the time eta variantes Requirement 4 Describe how Morges berentes cosing Standard costing managers the following Choose from any store anything and contention Data Table Static Budget Actual Results (1,025 recliners) (1,005 recliners) $ 512,500 482,400 54,120 54,180 110,700 Sales (1,025 recliners x $500 each) (1,005 recliners x $480 each) Variable Manufacturing Costs: Direct Materials (6,150 yds @ $8.807 yd.) (6,300 yds @ $8.60 / yd.) Direct Labor (10,250 DL.Hr @ $10.80 / DLH) (9,850 DLHY @ $11.00 / DLH) Variable Overhead (6,150 yds @ $5.10 / yd.) (6,300 yds @ $6.50 / yd.) Fixed Manufacturing Costs: Fixed Overhead Total Cost of Goods Sold Gross Profit 108,350 31,365 40,950 62,730 64,730 268,210 258,915 $ 253,585 $ 214,190 Print Done Requirements 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. B. Have McKnight's managers done a good job or a poor job controlling materials, labor, and overhead costs? Why? .. Describe how McKnight's managers can benefit from the standard costing system. Print Done Requirements 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. B. Have McKnight's managers done a good job or a poor job controlling materials, labor, and overhead costs? Why? .. Describe how Mcknight's managers can benefit from the standard costing system. Print Done Mcknight Recipen nanutactures teater raciners and uses foutie budanting and a standard core system. Meknight afecatus overhead based an yards of dred . report following lected Ciekte in to view the weed data) Read the recents Requirement 1. Pesare a textile budgw bined on the actual number of rechter die round buoit morto McKnight Rechers Fleche Budget Budget Amounts per Un Achan Red Sales Revenue Variable Maturg Costs Direct Mater Direct Labor Variable Otad Find afacering Costs Paed Overhead Tout Out of Good Cros Profit Requirement 2. Compute the cost wiance and the efficiency are for direct me and for director For manufacturing overat compute the variable Overhead con variable overhead efficiency, fred overhead cost and freedowerhead volume vrace Round to the nearest star Begin with the cost variances Select the required formulas, compute the cost variances for direct materials and direct laborant identify whether nach variance favorable (For unfavorable Round your answers to the nearest whole ACAQFOH overhead, Cadard cost sandard quantity Fomul Direct mais con variante Direct labor contre Neut compute the eficiency variance Select the required formim, compute the ceny wions for direct materials and director and idently whether each Variance is able (F) or unfavorable (U) Round you to the whole world. ACAQ - FOH fred Overhead Standard cost 50 ndard quart Fom Direct materials officiency wrance Direct laboratoency vortance Now compute the variable overhead cost and efficiency variances Select the required to compute the vale overhead cont deficiency wariances and dentify whether each vanance is favorable For unfavoratie (V). Round your own the newest whole Abbreviation AG actual GFOK fed everat SC standart cost, Standard quart. Ved Ford VOH con variance VoH fiecare Now compute the fixed Overhead cost and volume vananes Select the rear formula completo con volume variances, and only whetheach vario a favorable or unfavorable (U). Round you to the whole or treations AC AD cual quantity Fodovad: 5C and costadora Formule FOH con variance FOH che variante Requirement 3. Have McKnight's managers done a good job or a poor ad controlling materials, and when conte? Why? The varices computed in Requirements that the managers have done a obcing materials and labor costs. The material cost variance and direct laboreficcy variance help of the Sercote and direct materialen van Managers have done ob controling avemand costs as evidenced by the fact that of the dancese Budget Ammo Atten Variable Manufacturing Costs Direct Direct Variable Overhet Paad Stanut turg Costs Finderat Tot Cost of Good Grosso Requirement 2. Compare the covariance and the concerne for den tractor Formandang overhead.com he variable powead cost variatio overhead is our own cread come and fed arances. Round to the nearest all Begin with the cost variances Select the required formulas, compute the most variancestor direct materials and direct labor, and identity whether each variances favorable For untavorable Round your heart who dolorosa AC costAlthy FOH SC standard cost 50 For Directors are Next compute the incy variances Select the forma completings to direct and director and identity whether each wariance is favore Forum ( Und you to the Act AQFOH fred overhead SC - and so For Directory Direct laboreng verance Now compute the variable overhead cost and converance Serrured form.computer vi overhead cost and efficiency vriences and identify whether each Vorances tvorable or unfavorable Round your the sole Abbreviation AC cost. AD haluar FOH SC standard Standart VOH conce VOR Now.compute the fred overhead cost and voumevances Select the complete edhead cost and volume variances and identity whether each variance is volonterre (und your QFOH-dows SC-sand F FOH.com For volume variance Requirement. Have Mcknight managers done a good job or a poor color and over the cost? Why? The variances compted in Requirement 2 semanas done o cooling saber costs. The materials costariance and direct laborency variante Grectator cent vatance and direct materials aficiency variance Managers have done al controlling overheads as evidenced by the time eta variantes Requirement 4 Describe how Morges berentes cosing Standard costing managers the following Choose from any store anything and contention Data Table Static Budget Actual Results (1,025 recliners) (1,005 recliners) $ 512,500 482,400 54,120 54,180 110,700 Sales (1,025 recliners x $500 each) (1,005 recliners x $480 each) Variable Manufacturing Costs: Direct Materials (6,150 yds @ $8.807 yd.) (6,300 yds @ $8.60 / yd.) Direct Labor (10,250 DL.Hr @ $10.80 / DLH) (9,850 DLHY @ $11.00 / DLH) Variable Overhead (6,150 yds @ $5.10 / yd.) (6,300 yds @ $6.50 / yd.) Fixed Manufacturing Costs: Fixed Overhead Total Cost of Goods Sold Gross Profit 108,350 31,365 40,950 62,730 64,730 268,210 258,915 $ 253,585 $ 214,190 Print Done Requirements 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. B. Have McKnight's managers done a good job or a poor job controlling materials, labor, and overhead costs? Why? .. Describe how McKnight's managers can benefit from the standard costing system. Print Done Requirements 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. B. Have McKnight's managers done a good job or a poor job controlling materials, labor, and overhead costs? Why? .. Describe how Mcknight's managers can benefit from the standard costing system. Print Done