Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PAS-4 (Static) Calculating Direct Materials, Direct Labor, Variable Manufacturing Overhead Variances [L0 9-3, 9-4, 9-5] Bullseye Company manufactures dartboards. Its standard cost information follows: Standard

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
PAS-4 (Static) Calculating Direct Materials, Direct Labor, Variable Manufacturing Overhead Variances [L0 9-3, 9-4, 9-5] Bullseye Company manufactures dartboards. Its standard cost information follows: Standard Standard Quantity Standard Price (Rate) Unit Cost Direct materials (cork board) 2.5 sq. ft. $ 2.66 per sq. ft. $ 5.66 Direct labor 1 hr. $14.66 per hr. 14.66 Variable manufacturing overhead (based on direct labor hours) 1 hr. $ 6.56 per hr. 6.56 Fixed manufacturing overhead ($46,666 + 166,666 units) 6.25 Bullseye has the following actual results for the month of September: Number of units produced and sold 146,666 Number of square feet of corkboard used 366,666 Cost of corkboard used $ 756,666 Number of labor hours worked 148,666 Direct labor cost $1,938,866 Variable overhead cost $ 72,666 Fixed overhead cost $ 56,666 I Required: 1. Calculate the direct materials price, quantity, and total spending variances for Bullseye, 2. Calculate the direct labor rate, efficiency, and total spending variances for Bullseye. 3. Calculate the variable overhead rate, efficiency, and total spending variances for Bullseye. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the direct materials price, quantity, and total spending variances for Bullseye. (Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Direct Materials Price Variance Direct Materials Quantity Variance Direct Materials Spending Variance Complete this question by entering your answers in the tabs below. Requiredl Required2 Required3 Calculate the direct labor rate, efficiency, and total spending variances for Bullseye. (Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Direct Labor Rate Variance _ - Direct Labor Efficiency Variance Direct Labor Spending Variance Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the variable overhead rate, efficiency, and total spending variances for Bullseye. (Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Variable Overhead Rate Variance Variable Overhead Efficiency Variance Variable Overhead Spending Variance

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

Financial Accounting Fundamentals

Authors: John Wild

7th Edition

1260247864, 9781260247862

More Books

Students also viewed these Accounting questions

Question

3. If possible, break the presentation into clear steps or stages.

Answered: 1 week ago