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Use the following data in the link provided to answer the questions below: https://docs.google.com/spreadsheets/d/16cV-e3qt0Jkt6MW74LMdm8vjhN4tK986/edit?usp=sharing&ouid=117117006874458661370&rtpof=true&sd=true Chapter Questions Question 1: What is the total direct material used
Use the following data in the link provided to answer the questions below:
https://docs.google.com/spreadsheets/d/16cV-e3qt0Jkt6MW74LMdm8vjhN4tK986/edit?usp=sharing&ouid=117117006874458661370&rtpof=true&sd=true
Chapter Questions Question 1: What is the total direct material used (in dollars) for shoes? Amen: Question 2: What is the total direct labor used (in dollars) in the South region? Amen: Question 3: The budgeted manufacturing overhead rate is 25% of direct material dollars. (Hint: A job that incurs $100 of direct materials will be allocated $25 of manufacturing overhead.) What is the total manufacturing OH applied (in dollars)? Amen: Check: The total manufacturing OH applied in the North region was $177,464. Question 4: How man 'ackets were sold in the East region? Question 5: Which roduct line enerated the most revenue? Question 6: What is the total gross margin in each of the 4 regions? Answer: North South East West Question 7: Which Job ID enerated the smallest gross margin? \"Mini Question 8: Assume the actual indirect manufactuing OH rate for the year was 23.85%. Manufacturing overhead is allocated using direct material dollars. 83. What was the actual total overhead incurred during the year? Answer=|:| 8b. What is the difference between actual total manufacturing overhead and the applied manufacturing overhead? (Hint: Actual total manufacturing overhead - total applied manufacturing overhead.) Answer=l:| 8c. Was the manufacturing overhead over or underapplied? Answer=|:l Question 9: The budgeted period fixed costs for the year are $436,663, and the fixed portion of the budgeted total manufacturing overhead is $465,939. What are the total variable costs for the year? (Hint: The total variable costs is the total direct material costs + total direct labor costs + total manufacturing overhead applied - fixed portion of the budgeted manufacturing overhead.) Answer=|:| Question 10: What is the average contribution margin per unit for shoes? Assume the fixed overhead costs are 60.00% of the applied overhead and there are no period variable costs. (Hint: Divide the total contribution margin for shoes by the total number of shoes sold.) Answer=|:l Check: The average contribution margin perjacket is $67.52. Question 11: Assume the contribution margin per unit for shoes is $8.25 and the contribution margin per unit forjackets is $79.50. What is the break-even point in units? Assume a 3 shoes to 1 jacket sales mix. (Hint: Be sure to round your break-even number of bundles up to the nearest whole number.) Answer: i? of Bundles # of Shoes ii of Jackets |:|:l: Question 12: The company has separate material and quantity standards for the shoes and jackets product lines. Assume the following standard price and quantities: For shoes, assume the budgeted cost per foot of leather (standard price) is $14.32 and the budgeted feet of leather per pair of shoes produced is 2.10. Forjackets, assume the budgeted cost per foot of leather (standard price) is $17.14 and the budgeted feet of leather perjacket produced is 1066. That is, the budgeted cost of direct materials to produce 1 jacket is $182.71 ($17.14 per ft * 10.66 ft per jacket). (Hint: Calculate the direct material price and efficiency variances for each job and sum all of the variances together.) 12a: What is the direct material price variance? Make sure you enter the number with the correct sign. Answer: DM Price Variance (S) Favorable/Unfavorable :: 12b: What is the direct material efficiency variance? Make sure you enter the number with the correct sign. Answer: DM Efficiency Variance (S) Favorable/Unfavorable SStep by Step Solution
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