Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

This is Canadian Accounting Below is all the required information: Just need help with (c 1-4) part below Thumbs Up for correct answer Kingbird Company's

This is Canadian Accounting
Below is all the required information: image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Just need help with (c 1-4) part below
image text in transcribed
image text in transcribed
image text in transcribed
Thumbs Up for correct answer
Kingbird Company's actual results reveal that it was profitable in the sale of its star product: a high-end spot-cleaning vacuum for upholstery. But it was not nearly as profitable as management had hoped. Kingbird's actual income statement and master budget income statement are as follows. In order to keep the focus on product costs, SG\&A costs were omitted. Here are the company's standard cost cards for each product cost. Here are the company's standard cost cards for each product cost. (a) Prepare a flecible budget for Kingbird Company so management can evaluate the company's actual performance using a more appropriate benchmark. Prepare a flexible budget for Kingbird Company so management can evaluate the company's actual performance using a more appropriate benchmark. Determine the following specific variances for each product cost. 1. DM price and efficiency variances (29,500 yards of DM were purchased and used; Kingbird paid $22.00/ yard for the material). 2. DL price and efficiency variances (21,000 DL hours were used; Kingbird paid \$10,00/hour). DL price variance DL efficiency variance 3. Variable-MOH price and efficiency variances (MOH is applied based on DL hours). 2. DL price and efficiency variances (21,000DL hours were used; Kingbird paid $10.00/ hour). 3. Variable- MOH price and efficiency variances ( MOH is applied based on DL. hours). Determine the following specific variances for each product cost. 1. DM price and efficiency variances (29,500 yards of DM were purchased and used; Kingbird paid $22.00/ yard for the DM price variance $ DM efficiency variance $ 2. DL price and efficiency variances (21,000DL hours were used; Kingbird paid $10.00/ hour). DL price variance $ DL efficiency variance $ 3. Variable- MOH price and efficiency variances ( MOH is applied based on DL. hours)

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 Accounting Made Simple For Beginners

Authors: Robert Briggs

1st Edition

1761032739, 978-1761032738

More Books

Students also viewed these Accounting questions

Question

Date decision to be made (if known)

Answered: 1 week ago

Question

600 lb 20 0.5 ft 30 30 5 ft

Answered: 1 week ago

Question

Explain how SIHRM is linked to different global business strategies

Answered: 1 week ago