Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please answer ALL requirements and show calculations. P8-39 (final answer) Question Help The Bartlett Manufacturing Company's costing system has two direct-cost categories: direct materials and
Please answer ALL requirements and show calculations.
P8-39 (final answer) Question Help The Bartlett Manufacturing Company's costing system has two direct-cost categories: direct materials and direct manufacturing labor. Manufacturing overhead (both variable and fixed) is allocated to products on the basis of standard direct manufacturing labor hours (DLH). At the beginning of 2014, Bartlett adopted the following standards for its manufacturing costs: 3(Click to view the standards.) (Click to view additional information.) Read the requirements. Requirement 1. Prepare a schedule of total standard manufacturing costs for the 8,000 output units in January 2014. Direct materials Direct manufacturing labor Manufacturing overhead: Variable Fixed Total Enter any number in the edit fields and then click Check Answer. * Data Table Direct materials Direct manufacturing labor Manufacturing overhead: Input 5 lbs, at $5 per lb. 4 hrs. at $12 per hr. Cost per Output Unit $ 25.00 48.00 Variable $8 per DLH $9 per DLH 32.00 36.00 Fixed 141.00 Standard manufacturing cost per output unit Print Done i Data Table The denominator level for total manufacturing overhead per month in 2014 is 39,000 direct manufacturing labor-hours. Bartlett's flexible budget for January 2014 was based on this denominator level. The records for January indicated the following: Direct materials purchased Direct materials used Direct manufacturing labor Total actual manufacturing overhead (variable and fixed) Actual production 41,500 lb. at $5.30 per lb. 39,500 lb. 31,500 hrs. at $11.60 per hr. $500,000 8,000 output units Print Print Done 0 Requirements 1. Prepare a schedule of total standard manufacturing costs for the 8,000 output units in January 2014 2. For the month of January 2014, compute the following variances, indicating whether each is favorable (F) or unfavorable (U): a. Direct materials price variance, based on purchases b. Direct materials efficiency variance c. Direct manufacturing labor price variance d. Direct manufacturing labor efficiency variance e. Total manufacturing overhead spending variance f. Variable manufacturing overhead efficiency variance g. Production-volume variance Print DoneStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started