binwood Fixtures manufactures two products, K4 and X7. The company prepares its master budget on the...
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binwood Fixtures manufactures two products, K4 and X7. The company prepares its master budget on the basis of standard costs. e following data are for September: Standards Direct materials Direct labor Variable overhead (per direct labor-hour) Fixed overhead (per month) Expected activity (direct labor-hours) Actual results Direct material (purchased and used) Direct labor Fixed overhead Variable overhead Units produced (actual) K4 0.75 pounds at $6.20 per pound 1.25 hours at $24.20 per hour. $ 19.40 $ 414,240 17,260 9,400 pounds at $5.60 per pound 14,710 hours at $24.50 per hour $ 295,060 $377,740 12,020 units X7 1 pound at $6.80 per poun 1.50 hours at $30 per hour $ 21.20 $ 491,610 23,410 14,110 pounds at $7.10 per pou 22,210 hours at $30.80 per hou $ 455,212 $489,400 14,410 units quired: Prepare a variance analysis for each variable cost for each product Prepare a fixed overhead variance analysis for each product round intermediate calculations. Indicate the effect of each variance by selecting "F" for binwood Fixtures manufactures two products, K4 and X7. The company prepares its master budget on the basis of standard costs. e following data are for September: Standards Direct materials Direct labor Variable overhead (per direct labor-hour) Fixed overhead (per month) Expected activity (direct labor-hours) Actual results Direct material (purchased and used) Direct labor Fixed overhead Variable overhead Units produced (actual) K4 0.75 pounds at $6.20 per pound 1.25 hours at $24.20 per hour. $ 19.40 $ 414,240 17,260 9,400 pounds at $5.60 per pound 14,710 hours at $24.50 per hour $ 295,060 $377,740 12,020 units X7 1 pound at $6.80 per poun 1.50 hours at $30 per hour $ 21.20 $ 491,610 23,410 14,110 pounds at $7.10 per pou 22,210 hours at $30.80 per hou $ 455,212 $489,400 14,410 units quired: Prepare a variance analysis for each variable cost for each product Prepare a fixed overhead variance analysis for each product round intermediate calculations. Indicate the effect of each variance by selecting "F" for
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