Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer the highlighted cells (C) What amount of gross profit would be reported on the income statement? Direct Materials: AQ AP 200,000 $4.25 $850,000

please answer the highlighted cells
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
(C) What amount of gross profit would be reported on the income statement? Direct Materials: AQ AP 200,000 $4.25 $850,000 AQ SP 200,000 $4.00 $800,000 $50,000 Unf DM Price Variance AQ SP 140,000 $4.00 $560,000 SQ" SP 144,000 $4.00 $576,000 $16,000 Fav DM Quantity Variance Amount of Variance Name of Variance Unf or Fav? Direct Materials SP Direct Labor: AQ AP 92,000 $18.10 $1,665,200 AQ SP 92,000 $18.00 $1,656,000 SQ 90,000 $18.00 $1,620,000 59,200 Unf DL Rate Variance $36,000 Unf DL Efficiency Variance Amount of Variance Name of Variance Unfor Fav? Direct Labor Variable Overhead: AQ AP 175,000 $? $1,650,000 AQ SP 175,000 $10.00 $1,750,000 sa SP 162,000 $10.00 $1,620,000 $100,000 Fav VOH Rate Variance $130,000 Unf VOH Efficiency Variance Amount of Variance Name of Variance Unt or Fav? Variable Overhead Fixed Overhead: Actual $1,100,000 Budget 180,000 $6.00 $1,080,000 SQ" SP 162,000 $6.00 $972,000 $20,000 Unf FOH Spending Variance $108,000 Unf FOH Volume Variance Amount of Variance Name of Variance Unfor Fav? Fixed Overhead

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_2

Step: 3

blur-text-image_3

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 Ethics

Authors: Ronald F. Duska, Brenda Shay Duska, Kenneth Wm. Kury

3rd Edition

1119118786, 9781119118787

More Books

Students also viewed these Accounting questions