Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

part b Bramble Corporation accumulates the following data relative to jobs started and finished during the month of June 2022. Costs and Production Data Actual

part b
image text in transcribed
image text in transcribed
image text in transcribed
Bramble Corporation accumulates the following data relative to jobs started and finished during the month of June 2022. Costs and Production Data Actual Standard Raw materials unit cost $2 Raw materials units 10,900 Direct labor payroll $159.600 Direct labor hours 15,200 Manufacturing overhead incurred Manufacturing overhead applied $226,176 Machine hours expected to be used at normal capacity 42,500 Budgeted fixed overhead for June $72,250 Variable overhead rate per machine hour $3.10 Fixed overhead rate per machine hour $1.70 Overhead is applied on the basis of standard machine hours. Three hours of machine time are required for each direct labor hour. The jobs were sold for $456,000. Selling and administrative expenses were $36.500. Assume that the amount of raw materials purchased equaled the amount used. $2.00 11,500 $163,900 14,900 $223,976 Your answer is correct. Compute all of the variances for (1) direct materials and (2) direct labor. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 52.) (1) Total materials variance $ 1.200 Unfavorable Materials price variance Unfavorable Materials quantity variance $ Unfavorable Total labor variance Unfavorable Labor price variance $ Unfavorable Labor quantity variance Favorable (2) 0 i 1.200 i 4.300 i 7,450 i 3150 (b) Your answer is incorrect. Compute the total overhead variance. Total overhead variance $ eTextbook and Medial List of Accounts Save for Later Favorable. : Attempts: 1 of 5 used Submit

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

Accounting Information Systems

Authors: Vernon Richardson, Chengyee Chang

1st edition

78025494, 978-0078025495

More Books

Students also viewed these Accounting questions