Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

use info from first question Aequired information [The following information appiles to the questions displayod below] Preble Company manufactures one product ins variable manufacturing overhead

use info from first question
image text in transcribed
image text in transcribed
Aequired information [The following information appiles to the questions displayod below] Preble Company manufactures one product ins variable manufacturing overhead is applied to production based on direct labor-hours and ins standard cost card per unit is as follows: The compeny also established the following cost formulas for its selling expenses: The planning budget for March was based on producing and selling 19,000 units. Howevec during March the company actually produced and sold 24,000 units and incurred the following costs: a. Purchased 160,000 pounds of raw materials at a cost of 57.20 per pound. All of this material was used in production. b. Direct-laborers worked 60.000 hours at a rate of $15,00 per hour. c. Total variable manufacturing overhead for the month was $336,600 d. Total advertising, sales salaries and commissions, and shipping expenses were $260,000,$480,000, and $165,000, respectively. Required: 1. What raw materials cost would be included in the company's flexible budget for March? 2. What is the materisks quantity variance for March? fndicate the eflect of each varlance by selietting "f" for faverable, "U* for unfavorable, and "None" for no effect fi.e. rero variance.). Input the amount as o pesilire wilue] 3. What is the materials price variance for March? (indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (Le., rero variance.) Input the amount as a positive value.) 4. If Preble had purchased 175,000 pounds of materials at $7.20 per pound and used 160,000 pounds in production, what would be the materials quantity variance for March? (lindicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e.4 aero varionce.). Input the amount as a positive value.) 5. If Preble had purchased 175,000 pounds of materiais at $7.20 per pound and used 160,000 pounds in production, what would be the materials price variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., rero variance.). input the amount as a positive value.) 6. What direct labor cost would be included in the company's flexible budget for March? 7. What is the direct labor ethiciency variance for March? (ndicate the eflect of each variance by selecting "F" for faverable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input the amount as a positive value.) 6. What direct labor cost would be included in the company's flexible budget for March? 7. What is the direct labor efficiency variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero varlance.). Input the amount as a positive value.) 8. What is the direct labor rate variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input the amount as a positive value.) 9. What variable manufacturing overhead cost would be included in the company's flexible budget for March? 10. What is the variable overhead efficiency variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input the amount as a positive value.) 11. What is the variable overhead rate variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for infavorable, and "None" for no effect (li.e., zero variance.). Input the amount as a positive value.) 2. What amounts of advertising, sales salaries and commissions, and shipping expenses would be included in the company's flexible udget for March? 13. What is the spending variance related to advertising? (Indicate the effect of each variance by selecting "F* for favorable, "U* for unfavorable, and "None" for no effect (i.e., zero variance.). Input the amount as a positive value.) 14. What is the spending variance related to sales salaries and commissions? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (L.e., zero variance.). Input the amount as a positive value.) 5. What is the spending variance related to shipping expenses? (Indicate the effect of each variance by selecting "F" for favorable, " for unfavorable, and "None" for no effect (i.e., zero variance.) Input the amount as a positive value.) Aequired information [The following information appiles to the questions displayod below] Preble Company manufactures one product ins variable manufacturing overhead is applied to production based on direct labor-hours and ins standard cost card per unit is as follows: The compeny also established the following cost formulas for its selling expenses: The planning budget for March was based on producing and selling 19,000 units. Howevec during March the company actually produced and sold 24,000 units and incurred the following costs: a. Purchased 160,000 pounds of raw materials at a cost of 57.20 per pound. All of this material was used in production. b. Direct-laborers worked 60.000 hours at a rate of $15,00 per hour. c. Total variable manufacturing overhead for the month was $336,600 d. Total advertising, sales salaries and commissions, and shipping expenses were $260,000,$480,000, and $165,000, respectively. Required: 1. What raw materials cost would be included in the company's flexible budget for March? 2. What is the materisks quantity variance for March? fndicate the eflect of each varlance by selietting "f" for faverable, "U* for unfavorable, and "None" for no effect fi.e. rero variance.). Input the amount as o pesilire wilue] 3. What is the materials price variance for March? (indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (Le., rero variance.) Input the amount as a positive value.) 4. If Preble had purchased 175,000 pounds of materials at $7.20 per pound and used 160,000 pounds in production, what would be the materials quantity variance for March? (lindicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e.4 aero varionce.). Input the amount as a positive value.) 5. If Preble had purchased 175,000 pounds of materiais at $7.20 per pound and used 160,000 pounds in production, what would be the materials price variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., rero variance.). input the amount as a positive value.) 6. What direct labor cost would be included in the company's flexible budget for March? 7. What is the direct labor ethiciency variance for March? (ndicate the eflect of each variance by selecting "F" for faverable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input the amount as a positive value.) 6. What direct labor cost would be included in the company's flexible budget for March? 7. What is the direct labor efficiency variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero varlance.). Input the amount as a positive value.) 8. What is the direct labor rate variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input the amount as a positive value.) 9. What variable manufacturing overhead cost would be included in the company's flexible budget for March? 10. What is the variable overhead efficiency variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input the amount as a positive value.) 11. What is the variable overhead rate variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for infavorable, and "None" for no effect (li.e., zero variance.). Input the amount as a positive value.) 2. What amounts of advertising, sales salaries and commissions, and shipping expenses would be included in the company's flexible udget for March? 13. What is the spending variance related to advertising? (Indicate the effect of each variance by selecting "F* for favorable, "U* for unfavorable, and "None" for no effect (i.e., zero variance.). Input the amount as a positive value.) 14. What is the spending variance related to sales salaries and commissions? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (L.e., zero variance.). Input the amount as a positive value.) 5. What is the spending variance related to shipping expenses? (Indicate the effect of each variance by selecting "F" for favorable, " for unfavorable, and "None" for no effect (i.e., zero variance.) Input the amount as a positive value.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions