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Question 2.
      

 

Question 3.
 
Standard costs
   
  
Materials (4 ounces at $4)
  
$16 
  
Direct labor (1 hour per unit)
  
$7 
  
Variable overhead (based on direct labor hours)
  
$3.50 
 
Fixed overhead budget
$16,000 
  
       
 
Actual results and costs
   
  
Materials purchased
   
   
Units
10,000 
  
   
Cost
$38,500 
  
  
Materials used in production
   
   
Finished product units
2,400 
  
   
Raw material (ounces)
10,200 
  
   
Direct labor hours
2,400 
  
   
Direct labor cost
$17,280 
  
   
Variable overhead costs
$8,250 
  
   
Fixed overhead costs
$15,700 
  
       
Required:
    
Compute the following variances (show calculations).
   
 
a. Materials usage variance
   
 
b. Labor rate variance
   
 
c. Fixed overhead budget variance
   
      

 

Question 4.
      

 

Question 5.
 
Product
Number of setups
Machine hours
Packing orders
 
 
 
 
Trumpets
5
250
75
 
 
 
 
Trombones
10
500
125
 
 
 
 
Cost per pool
$1,500 
$30,000 
$10,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Required (show all calculations)
 
 
 
 
 
 
a. What is the allocation rate for trumpets per setup using activity-based costing?
 
 
b. What is the allocation rate for trumpets per machine hours using activity-based costing?
c. What is the allocation rate for trumpets per packing order using activity-based costing?
      

 

Question 6.
Budgeted data  Actual results 
Unit sales25,000  Unit sales 26,000 
Unit production25,000  Unit production26,500 
Fixed overhead  Fixed overhead 
 Supervision $20,000   Supervision $19,000 
 Depreciation $25,000   Depreciation $25,000 
 Rent $12,500   Rent $12,500 
Variable costs per unit  Variable costs 
 Direct materials $20.00   Direct materials $530,000 
 Direct labor $25.00   Direct labor $640,000 
 Supplies $0.25   Supplies $6,100 
 Indirect labor $1.25   Indirect labor $30,000 
 Electricity $0.15   Electricity $4,000 
Required:    
 
Prepare a performance report for all costs, showing static budget variances (indicate F or U).
 
            
      

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