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Please answer all Bradford, Inc., expects to sell 14,000 ceramic vases for $21 each. Direct materials costs are $2, direct manufacturing labor is $10, and
Please answer all
Bradford, Inc., expects to sell 14,000 ceramic vases for $21 each. Direct materials costs are $2, direct manufacturing labor is $10, and manufacturing overhead is $4 per vase. The following inventory levels apply to 2020: Beginning inventory Ending inventory. 6,000 units Direct materials 6,000 units Work-in-process inventory 0 units 0 units Finished goods inventory 400 units 700 units On the 2020 budgeted income statement, what amount will be reported for cost of goods sold? A. $228,800 B. $219,200 C. $320,000 D. $224,000 Mid City Products Inc. (MCP), developed standard costs for direct material and direct labor. In 2020, MCP estimated the following standard costs for one of their most popular products. Budgeted quantity Budgeted price 7 pounds $2.50 per pound Direct materials Direct labor 0.3 hours $10.00 per hour During September, MCP produced and sold 1,000 units using 7,400 pounds of direct materials at an average cost per pound of $2.00 and 290 direct labor hours at an average wage of $10.25 per hour. The direct labor flexible-budget variance during September is A. $102.50 favorable B. $102.50 unfavorable C. $27.50 favorable D. $27.50 unfavorable Davidson Corporation manufactured 51,600 units during September. The following fixed overhead data relates to September: Static Budget Actual 51,600 units Production 51,000 units Machine-hours 2,945 hours 3,060 hours Fixed overhead costs for September $140,360 $140,760 What is the flexible-budget amount? OA. $142,416 B. $140,760 C. $51,600 D. $140,360 Zitrik Corporation manufactured 110,000 buckets during February. The variable overhead cost-allocation base is $5.05 per machine-hour. The following variable overhead data pertain to February: Actual 110,000 units 9,800 hours Budgeted 110,000 units Production Machine-hours 9,000 hours $5.05 Variable overhead cost per machine-hour $5.20 What is the flexible-budget amount? OA. $45,450 B. $49,490 C. $46,800 D. $50,960Step by Step Solution
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