Question list K Tolman Lager has just purchased the Jacksonville Brewery. The brewory is 2 years old and uses absorption costing. It will "sell" its product to Tolman Lagor at $46 per barrel. Peter Bryant, Toiman Lager's controller, obtains the following information about Jacksonville Brewery's capacity and budgeted fixed manufacturing costs for 2020 : Eit (Click the icon to view the information.) Read the requirements. Question 1 Question 2 Requirement 1. Compute the budgeled fixed manufacturing overhead rate per barrel for each of the denominator-level capacity concepts. Explain why they are different. Begin by determing the formula to calculate the budgeted fixed manufacturing overhead rate per barrel, then campute the rate for cach of the denominator-level capacity concepts. (Abbreviations used: Budg. = budgeted, MOH= manufacturing overhead. Round the ratos to the nearest cent) Data table Requirements 1. Compute the budgeted fixed manufacturing overhead rate per barrel for each of the denominator-level capadty concepts. Explain why they are different. 2. In 2020, the Jacksonville Brewery reported these production results: There are no variable cost variances. Fixod manufacturing overhead cost variances are written off to cost of goods sold in the period in which they occur. Compute the Jacksonville Brewery's operating income when the cenominator-level capacity is (a) theoretical capacity, (b) practical capacity, and (c) normal capacity utilization. information about Jacksonville Brewery's capacity and budgeted fixed manufacturing costs for 2020: '(Click the icon to view the information.) Read the requirements 2. Requirement 1. Compute the budgeted fixed manufacturing overhead rate per barrel for each of the denominator-level capacity concepts. Explain why they are different. overhead. Round the rates to the nearest cent.) Explain why they are different. The (3) concepts emphasize supply factors, while concepts emphasize demand factors. The six-month rates for the master-budget utilization concept (5) Requirement 2. Compute the Jacksonville Brewery's operating income when the denominator-tevel capacity is (a) theoretical capacity. (b) practical capacity, and (c) normal capacity utilization. Begin by completing the following table to help you compute the operating income for each denominator-tevel capacity concept. (Round the raies to the nearest cent.) The six-month rates for the master-budgot utlization concept ( 5 ) Requirement 2. Compute the Jacksonville Brewery's operating income when the denominatortevel capacity is (a) theoretical capacity, (b) practical capacity, and (c) nomal eapacity utilization. Begin by completing the following table to help you compute the operating income for each denominator-fevel capacity concept. (Round the rates to the neareat cent)