Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please follow the format in the images, thank you :) please answer a, b and c. Kale Comowested the following words for the production of

please follow the format in the images, thank you :)
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
please answer a, b and c.
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Kale Comowested the following words for the production of its finished unite Direct Materials i perunt $4.00 perb) $3200 Direct Labor (per units per di 30 Van Overhead machine per unit 112 macht 30 Fan Overhead machine per unite $ perma 27 Total Standard Cont of one Fished Unt 3175.00 (the fled overhead rate was based on a budgeted production of 12.500 unit) The following informations for the year 2001 Actual pro Section for the period was 12.000 units 110.000 pounds of data were purchased on for 4 29 per pourd 94.500 pounds of directs were din production 5200 direct labores were used and is actual sborrate paid was $16.50 per director hour The total actual variable overhead paid in care $425.000 and the whole poid) $335.000 35.00 machine heure were used 1000 units were sold for $380 per unit A 3 C Compte theight production be sure to be each wariance and indicate whether the varios tvorable or unavale Prepare ALL of the standard costing our say for the year What amount of gross profit will be reported on the 2020 income statement? Direct Materials AQ AP AQ 6 SP AD SP SO SP - 2 Amount of Variance Name of Variance Unt or Fav? 10 11 GENERAL JOURNAL Account Tits DR CR 13 10 0 21 Direct Labor . AG AP AQ SP so SP Amount of Variance Name of Variance Unf or Fay? GENERAL JOURNAL DR Account Titles CR G Variable Overhoed AQ AP AQ SP SQ SP Amount of Variance Name of Variance Unf or Fav? GENERAL JOURNAL DR Account Tities CR Fixed Overhead Actual Budget so SP Fixed Overhead Actual Budget SO SP Amount of Varance Name of Variance Unt or Fav? GENERAL JOURNAL DR Account Titles CR GENERAL JOURNAL DR Account Titles CR 2 3 5 5 B C. Gross Profit for 2021: Kate Carrowly stables the following standards for the production of freedte Desport 1400 per 12.00 Deborah perta 50 Vw Overhead machine 012) Freda so per mache") Titandard Cound $175.00 Chat we were on a budget of 2.500 There was able for the 2021 No forme pod 12.000 110.000 pounds and we had on 40 per 4 500 ponds down to 200 doctors were and hoped 16. red de 9.000 de edad con 33000 3300 mm 10.00 DO A Compute the production as to be chance and indicate or unfavorab PALL of the standard og males necessary for the C What of grous profit will be on the 2020 come Direct Materials AQ AP SP SQ AQ SP SP Amount of Variance Name of Variance Unt or Fay? GENERAL JOURNAL Account To DR CR Direct Labor AQ sa SP AP SP . Direct Labor AQ AP AQ SP SQ SP Amount of Variance Name of Variance Unfor Fav? GENERAL JOURNAL DR Account Titles CR . fx Variable Overhead D E F H Variable Overhead AQ AP AQ SP sa SP Amount of Variance Name of Variance Unfor Fav? GENERAL JOURNAL DR Account Tities CR 1 5 Fixed Overhead Actual Budget SQ SP 7 9 Fixed Overhead Actual Budget SQ SP Amount of Variance Name of Variance Unf or Fav? GENERAL JOURNAL DR Account Titles CR fx A B D E F GENERAL JOURNAL DR Account Titles CR C. Gross Profit for 2021: Kale Comowested the following words for the production of its finished unite Direct Materials i perunt $4.00 perb) $3200 Direct Labor (per units per di 30 Van Overhead machine per unit 112 macht 30 Fan Overhead machine per unite $ perma 27 Total Standard Cont of one Fished Unt 3175.00 (the fled overhead rate was based on a budgeted production of 12.500 unit) The following informations for the year 2001 Actual pro Section for the period was 12.000 units 110.000 pounds of data were purchased on for 4 29 per pourd 94.500 pounds of directs were din production 5200 direct labores were used and is actual sborrate paid was $16.50 per director hour The total actual variable overhead paid in care $425.000 and the whole poid) $335.000 35.00 machine heure were used 1000 units were sold for $380 per unit A 3 C Compte theight production be sure to be each wariance and indicate whether the varios tvorable or unavale Prepare ALL of the standard costing our say for the year What amount of gross profit will be reported on the 2020 income statement? Direct Materials AQ AP AQ 6 SP AD SP SO SP - 2 Amount of Variance Name of Variance Unt or Fav? 10 11 GENERAL JOURNAL Account Tits DR CR 13 10 0 21 Direct Labor . AG AP AQ SP so SP Amount of Variance Name of Variance Unf or Fay? GENERAL JOURNAL DR Account Titles CR G Variable Overhoed AQ AP AQ SP SQ SP Amount of Variance Name of Variance Unf or Fav? GENERAL JOURNAL DR Account Tities CR Fixed Overhead Actual Budget so SP Fixed Overhead Actual Budget SO SP Amount of Varance Name of Variance Unt or Fav? GENERAL JOURNAL DR Account Titles CR GENERAL JOURNAL DR Account Titles CR 2 3 5 5 B C. Gross Profit for 2021: Kate Carrowly stables the following standards for the production of freedte Desport 1400 per 12.00 Deborah perta 50 Vw Overhead machine 012) Freda so per mache") Titandard Cound $175.00 Chat we were on a budget of 2.500 There was able for the 2021 No forme pod 12.000 110.000 pounds and we had on 40 per 4 500 ponds down to 200 doctors were and hoped 16. red de 9.000 de edad con 33000 3300 mm 10.00 DO A Compute the production as to be chance and indicate or unfavorab PALL of the standard og males necessary for the C What of grous profit will be on the 2020 come Direct Materials AQ AP SP SQ AQ SP SP Amount of Variance Name of Variance Unt or Fay? GENERAL JOURNAL Account To DR CR Direct Labor AQ sa SP AP SP . Direct Labor AQ AP AQ SP SQ SP Amount of Variance Name of Variance Unfor Fav? GENERAL JOURNAL DR Account Titles CR . fx Variable Overhead D E F H Variable Overhead AQ AP AQ SP sa SP Amount of Variance Name of Variance Unfor Fav? GENERAL JOURNAL DR Account Tities CR 1 5 Fixed Overhead Actual Budget SQ SP 7 9 Fixed Overhead Actual Budget SQ SP Amount of Variance Name of Variance Unf or Fav? GENERAL JOURNAL DR Account Titles CR fx A B D E F GENERAL JOURNAL DR Account Titles CR C. Gross Profit for 2021

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

Students also viewed these Accounting questions