P9-47 (similar to) Question Help Galvin Motors assembles the fully electric Model S-85 automobile at its Hayward, California, plant. The standard variable manufacturing cost per vehicle in 2017 is $56,600, which consists of: 9: (Click the icon to view the variable cost per vehicle information.) (Click the icon to view additional information.) Galvin started production of the Model S-85 in 2017. The actual production and sales figures for the E (Click the icon to view the production and sales figures.) (Click the icon to vie More Info Read the requirements. Data Table Adj. for production-volume variance (14,014,000) F 8,008,000 $ 191,896,000 Cost of goods sold $ 123,902,000 Kaz Schmid is SVP of Galvin and director of the Hayward plant. His compensation includes a bonus that is 0.20% of monthly operating income, calculated using absorption costing. Galvin prepares absorption-costing income statements monthly, which include an adjustment for the production-volume variance occurring in that month. There are no variable cost variances or fixed overhead spending variances in the first three months of 2017. The Hayward plant is credited with revenue (net of marketing costs) of $97,000 for the sale of each Galvin S-85 vehicle. Direct materials $ $ 50,698,000 Operating income 40,904,000 32,000 11,600 $ $ 101,396 $ 81,808 Bonus paid to Kaz Schmid Direct manufacturing labor Variable manufacturing overhead $ 13,000 Requirement 3. How much would the use of variable costing change Schmid's bonus each month i hable Print Done Complete the top half of the income statement for each month first, then complete the bottom portio any zero balance accounts.) March January $ 174,600,000 February $ 232,800,000 January February March $ 329,800,000 Production 3,300 2,200 3,500 Revenues Variable cost of goods sold: Beginning inventory Variable manufacturing costs Sales 1,800 2,400 3,400 $ 0 19500000 16900000 More Info Variable manufacturing overhead is allocated to vehicles on the basis of assembly time. The standard assembly time per vehicle is 26 hours. The Hayward plant is highly automated and has a practical capacity of 3,600 vehicles per month. The budgeted monthly fixed manufacturing overhead is $52,052,000. Fixed manufacturing overhead is allocated on the basis of the standard assembly time for the budgeted normal capacity utilization of the plant. For 2017, the budgeted normal capacity utilization is 2,600 vehicles per month. Choose from any list or enter any number in the input fields and then click Check Answer. parts 7 Pemaining Clear All Print Done