Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following standard costing data, per unit, are for Black Ltd. for January Direct materials Direct labour 65 kilograms at $5.5 per kilogra Variable

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

The following standard costing data, per unit, are for Black Ltd. for January Direct materials Direct labour 65 kilograms at $5.5 per kilogra Variable overhead Fixed overhead 10 hours at $19.5 per hour 10 hours at $6.5 per hour $75 For January, Black's flexible budget volume of output was 840 units. Budgeted (planned) output was 870 units. Direct materials purchased and used were 52.900 kilograms at a total cost of $296,240. Direct labour used was 9,410 hours at $18.7 per hour Variable overhead cost was $54,230, Actual fixed overhead cost was $66,350. Fixed overhead cost is applied using direct labour-hours. The normal volume is the same as the planned volume for January Required: 1. Prepare the static and flexible budgets and show the variances by completing the table given below. (Round "Direct materials price" and "Direct labour rote" answers to 2 decimal places.) Direct materials price Direct materials quantity Direct labour sate Direct labour efficiency Variabler overhead spending (rate) Variable overhead efficiency Found overhead Actual cost AR per DLH hours Badged anot Next > SR per DLH 7pm OLH Planned un ma N Check my work yours

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

Recommended Textbook for

Horngrens Financial and Managerial Accounting

Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura

5th edition

9780133851281, 013385129x, 9780134077321, 133866297, 133851281, 9780133851298, 134077326, 978-0133866292

More Books

Students also viewed these Accounting questions

Question

Describe how the MillerOrr model works.

Answered: 1 week ago