Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please kindly help with these. Would appreciate if you could follow pictures properly Thanks REQUIREMENTS DATA TABLE QUESTIONS * Requirements 1. Determine the company's standard

Please kindly help with these. Would appreciate if you could follow pictures properly

Thanks

REQUIREMENTS

image text in transcribed

DATA TABLE

image text in transcribed

QUESTIONS

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

* Requirements 1. Determine the company's standard cost for one unit. 2. Prepare a flexible budget based on the actual number of PCs sold. 3. Compute the price variance for direct materials and for direct labour. 4. Compute the efficiency variances for direct materials and direct labour. 5. For manufacturing overhead, compute the total variance, the flexible budget variance, and the production volume variance. 6. What is the total flexible budget variance for Eagle System's manufacturing costs? Show how the total flexible budget variance is divided into materials, labour, and overhead variances. 7. Have Eagle System's managers done a good job or a poor job controlling material and labour costs? Why? 8. Describe how Eagle System's managers can benefit from the standard costing system. Eagle System assembles PCs and uses flexible budgeting and a standard cost system. Eagle System allocates overhead based on the number of direct materials parts. The company's performance report includes the following selected data: (Click the icon to view the selected data.) Requirements Requirement 1. Determine the company's standard cost for one unit. First, select the formula, then compute the standard cost per unit. (Round your answer to the nearest cent.) Standard cost per unit based on the actual number of PCs sold. Actual gross profit Actual sales price per unit Actual total manufacturing costs Actual units sold Standard gross profit Standard sales price per unit Standard total manufacturing costs Standard units sold utputs Requirement 7. Have Eagle System's managers done a good job or a poor job controlling material and labour costs? Why? job controlling materials and labour costs. The direct materials price variance, direct materials efficiency variance, and direct labour efficiency variance far outweigh the direct The variances computed in Requirements 3 and 4 suggest that the managers have done a labour price variance. Requirement 8. Describe how Eagle System's managers can benefit from the standard cos Select five benefits managers may have from the standard costing system. good poor

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

Auditing Beyond Compliance Using The Portable Universal Quality Lean Audit Model

Authors: Janet Bautista Smith

1st Edition

0873898400, 9780873898409

More Books

Students also viewed these Accounting questions

Question

Why do mergers and acquisitions have such an impact on employees?

Answered: 1 week ago

Question

2. Describe the functions of communication

Answered: 1 week ago