Bach Instruments Inc. makes three musical instruments: flutes, clarinets, and oboes. The budgeted factory overhead cost is $103,680. Overhead is allocated to the three products on the basis of direct labor hours. The products have the following budgeted production volume and direct labor hours per unit:
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Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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- v21Oni X LOLA - Log On Louisian X - Don't forget this.. X (no subject) - morganm X f(1) Saved | Facebook akeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress%3Dfalse eBook Single plantwide factory overhead rate Bach Instruments Inc. makes three musical instruments: flutes, clarinets, and oboes. The budgeted factory overhead cost is $103,680. Overhead is allocated to the three products on the basis of direct labor hours. The products have the following budgeted production volume and direct labor hours per unit: Budgeted Production Direct Labor Hours Per Volume Unit Flutes 1,800 units 0.4 Clarinets 600 1.6 1.2 Oboes 1,300 If required, round all per unit answers to the nearest cent. a. Determine the single plantwide overhead rate. per direct labor hour b. Use the overhead rate in (a) to determine the amount of total and per-unit overhead allocated to each of the three products. Total Per Unit Factory Overhead Cost Factory Overhead Cost Flutes Clarinets…ageNOWv2 | Online teach x + cakeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress%3false lome Page | Zora... Welcome, Quente.. Library Genesis Macmillan Launch... (7) YouTube a My Conversations... bnc Apparel, Gifts & T... EReac >> A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $348,000 and direct labor hours would be 42,900. Actual manufacturing overhead costs incurred were $322,800, and actual direct labor hours were 54,500. The journal entry to apply the factory overhead costs for the year would include a Oa. credit to Factory Overhead for $348,000 Ob. debit to Factory Overhead for $441,995 Oc. credit to Factory Overhead for $441,995 Od. debit to Factory Overhead for $322,800CengageNOWV2 | Online teachin X v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&ta... A Q Lo X eBook Content X Security Department Cafeteria Department Print Item Laser Department Forming Department 510 2,400 4,800 800 Support Department Cost Allocation-Reciprocal Services Method Blue Africa Inc. produces laptops and desktop computers. The company's production activities mainly occur in what the company calls its Laser and Forming departments. The Cafeteria and Security departments support the company's production activities and allocate costs based on the number of employees and square feet, respectively. The total cost of the Security Department is $252,000. The total cost of the Cafeteria Department is $293,000. The number of employees and the square footage in each department are as follows: Cafeteria Department R Employees Square Feet 10 26 40 50 Using the reciprocal services method of support department cost allocation, determine the total costs from the…
- -My Home * CengageNOwv2 | Online teach x b Kingsford Furnishings Compan x n/ilrn/takeAssignment/takeAssignmentMain.do?invoker-&takeAssignmentSessionLocator=&inprogress-false Maps еВook Show Me How Print Item Entries for Materials Kingsford Furnishings Company manufactures designer furniture. Kingsford Furnishings uses a job order cost system. Balances on April 1 from the materials ledger are as follows: Fabric $26,200 Polyester filling 7,900 Lumber 58,700 Glue 2,500 The materials purchased during April on account are summarized from the receiving reports as follows: Fabric $130,200 Polyester filling 181,000 Lumber 356,700 Glue 12,400 Materials were requisitioned to individual jobs as follows: Polyester Fabric Lumber Glue Total Filling Job 601 $49,500 $62,400 $166,800 $278,700 Job 602 38,100 67,800 146,000 251,900 Job 603 35,100 46,000 81,200 162,300 Factory overhead-indirect materials $6,400 6,400 Total $122,700 $176,200 $394,000 $6,400 $699,300 The glue is not a significant cost, so…NOWV2 I Online teach X + Assignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress3false e Page | Zora... Welcome, Quente... E Library Genesis Macmillan Launch... (7) YouTube O1 My Conversations... bnc Apparel, Gifts & T... 国Re. > Predetermined Factory Overhead Rate Poehling Medical Center has a single operating room that is used by local physicians to perform surgical procedures. The cost of using the operating room is accumulated by each patient procedure and includes the direct materials costs (drugs and medical devices), physician surgical time, and operating room overhead. On January 1 of the current year, the annual operating room overhead is estimated to be: Disposable supplies $358,700 Depreciation expense 64,700 Utilities 37,600 Nurse salaries 538,600 Technician wages 176,400 Total operating room overhead $1,176,000 The overhead costs will be assigned to procedures, based on the number of surgical room hours. Poehling Medical Center expects to use the…X MindTap - Ceng: X M Mathway | Alget XU Microsoft 365 (F X UD Microsoft 365 (F X Sign out akeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook Salaries Materials Insurance Utilities Cost of inspection of materials for quality control Promotion expenses Advertising Equipment depreciation Cost of market survey Problem 7-39 (LO. 5) Blue Corporation, a manufacturing company, decided to develop a new line of merchandise. The project began in 2022. Blue had the following expenditures in connection with the project, all incurred in the U.S.: Amount of the deduction Check My Work 49 2023 $500,000 $600,000 90,000 70,000 8,000 11,000 6,000 8,000 7,000 6,000 11,000 18,000 20,000 14,000 144 2022 $ f The new product will be introduced for sale beginning in April 2024. If an amount is zero, enter "0". Calculate the monthly expense to the nearest dollar and use in subsequent computations. a. Determine Blue Corporation's research and experimental…
- ENOWV2 | Online teachin X eAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Requiem:. a Britten's War Requi... eBook Show Me How Calculator Fresno Industries Inc. manufactures and sells high-quality camping tents. The company began operations on January 1 and operated at 100% of capacity (150,000 units) during the first month, creating an ending inventory of 20,000 units. During February, the company produced 130,000 units during the month but sold 150,000 units at $500 per unit. The February manufacturing.costs and selling and administrative expenses were as follows: Number of Unit Total Units Cost Cost Manufacturing costs in February 1 beginning inventory: Variable 20,000 $275.00 $5,500,000 Fixed 20,000 26.00 520,000 Total $301.00 $6,020,000 Manufacturing costs in February: Variable 130,000 $275.00 $35,750,000 Fixed 130,000 30.00 3,900,000 Total $305.00 $39,650,000 Selling and administrative expenses in February: Variable 150,000 $20.00…empt.php?attempt%3D1530301&cmid%3D800386&page%=D2 E-learning services SQU Libraries - SQU Portal Attendance English (en) Clear my choice COVID Co. produces two different products (A and X) using two different activities: Machining, which uses machine hours as an ed activity driver, and Inspection, which uses number of batches as an activity driver. The cost of Machining is $500,000, while the cost of Inspection is $30,000. Product A uses 30% of total machine hours out of question and 70% of total batches. What is the total ac cost assigned to product X? Select one: O a. None of the given ANSWER O b. $171,000 O c. $359,000 O d. $22,500 O e. $125,000 ous page Next pagengageNOWv2 | Online teachin X + om/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress... € Compute conversion costs given the following data: direct materials, $363,600; direct labor, $192,400; factory overhead, $204,500 and selling expenses, $35,600. Oa. $396,900 Ob. $568.100 Oc. $168,900 Od. $760,500 8 5/2
- * CengageNOWv2 | Online te x My Questions | bartleby keAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false * 司 Upd Print Item Rene is working with the operations manager to determine what the standard labor cost is for a spice chest. He has watched the process from start to finish and taken detailed notes on what each employee does. The first employee selects and mills the wood, so it is smooth on all four sides. This takes the employee 1 hour for each chest. The next employee takes the wood and cuts it to the proper size. This takes 30 minutes. The next employee assembles and sands the chest. Assembly takes 2 hours. The chest then goes to the finishing department. It takes 1.5 hours to finish the chest. All employees are cross-trained so they are all paid the same amount per hour, $19.60. A. What are the standard hours per chest? Standard hour per chest hours B. What is the standard cost per chest for labor? Round your answer to two decimal places.…"attempt.php?attempt=1764992&cmid=875183 Goo. - aa inall ual uio a https://alternativet. SQUCOFFEE - Goog.B BCOM2911-Busines O Sultan Caboos Univ. © Trading Platfo SYSTEM (ACADEMIC) E-LEARNING SERVICES SQULIBRARIES SQU PORTAL ATTENDANCE 21 Time Question 1 As production takes place, all manufacturing costs are added to the: Not yet a. Production Labor account. answered O b. Work-in-Process Inventory account. Marked out of Oc. Finished-Goods Inventory account. 0.50 O d. Cost-of-Goods-Sold account. P Flag questlon O e. Manufacturing-Overhead Inventory account. Question In a job-order costing system, indirect labor cost is usually recorded as a credit to: O a. Cash or Wage Payable. Not yet answered O b. Work in Process. Marked out of Oc. Manufacturing Overhead. 0.50 O d. None of the given answer is correct ah1 Sp P Flag O e. Cost of Goods Sold. question 120 _Spring NEXT PAG Spotify Free Origin G. "general-chat. ACCT2121O Chrome - CengageNOWv2 | Online teaching and learning resource from Cengage Learning I v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker%3D&takeAssignmentSessionLocator%3D&inprogress3-false Instructions Chart of Accounts Journal Final Questions Instructions Lawn Spray Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On January 31 of the current year, Lawn Spray Inc. reacquire 19,500 shares of its common stock at $22 per share. On June 14, 13,400 of the reacquired shares were sold at $24 per share, and on November 23 , 5,000 of the reacquired shares were sold at $23. Required: A. Journalize the transactions of January 31, June 14, and November 23. Refer to the Chart of Accounts for exact wording of account titles. B. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year? C. What is the balance in Treasury Stock on December 31 of the current year? D. How will the balance in Treasury…