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this is full question Accelerate Motors assembles and sells motor vehicles using standard costing. Actual data relating to February and March 2022 are as follows:
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Accelerate Motors assembles and sells motor vehicles using standard costing. Actual data relating to February and March 2022 are as follows: There are no price, efficiency, or spending variances. Any production-volume variance is written off to cost of good: There are no price, efficiency, or spending variances. Any production-volume variance is written off to cost of goods sold in the month in which it occurs. Required: Answer the following questions for the month of March. a. How many units are in ending inventory in March? ( 1 mark) b. What is the budgeted fixed manufacturing overhead rate per unit? (0.5 mark) c. How much fixed overhead was allocated for the month of March? (1 mark) d. Calculate the production volume variance for March (if any)? (1 mark) e. Is fixed manufacturing overhead over or under allocated in March? (Over or Under) (0.5 mark) f. Using absorption costing, calculate cost of goods sold (all amounts in dollars). Amounts to be deducted should be shown as a negative number, (5 marks) Please make sure you read instructions. Amounts to be deducted need to be shown as a negative number for parts fand h. g. Create an absorption costing income statement for the month of March. Show all amounts as positive numbers Step by Step Solution
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