You have a business manufacturing man buns for depilous hipster wannabes. You produce these man buns in batches of 100. Each man bun has the following manufacturing standards.

You have a business manufacturing man-buns for depilous hipster wannabes (these man-buns have been referred to in the past as toupees). You produce these man-buns (MB) in batches of 100. Each MB has the following manufacturing standards (i.e., b udgets) Direct materials $10.00 per lock 2.5 locks of hair 2.0 Direct Labor Hours $16.00 per Direct Labor Hour Direct labor Indirect materials Other indirect manufacturing costs Normal output $325 per batch $7,000 per month 10 batches per month Total capacity 12 batches per month There is no beginning or ending inventory for WIP and Finished Goods. You have sufficient beginning direct material inventory of "locks of hair" that you do not need to purchase any during the month. During October 2017 you made 11 batches of MBs and spent/incurred the following: Locks of hair 2,810 locks 2,150 DLH $27,538 in total $32,788 in total $3,600 in total $6,950 in total Direct labor Variable O/H (Indirect materials) Fixed O/H (Other indirect mfg costs) Prepare an analysis of actual production costs for October compared to Budget-adjusted-for- output (Flex Budget). Identify the usage/efficiency, price/rate, spending, and volume variances as appropriate. Record journal entries to record the use of direct materials, direct labor, and variable&fixed manufacturing overhead. (Post costs to WIP first, then transfer all of WIP to Finished Good. Transfer all of Finished Goods to COGS -remember there is no beginning or ending inventory for WIP or Finished Goods.) Prepare the adjusting journal entry to close all of the variances to COGS Ferd is responsible for buying your direct materials. Did he do a "good" job in October? Why? Franny is in charge of the use of the direct materials. Did she do a "good" job in October with regards to material usage? Why? . . Franny is also in charge of the use of direct labor. Did she do a "good" job in October with regards to labor usage/efficiency? Why? Futz sets hourly wage rates for the direct labor. Did he do a "good" job in October? Why? You are in charge of all manufacturing overhead. Did you do a "good" job managing overhead in October? Why