Comprehensive Problem 5 Part A: Note: You must complete part A before completing parts B and C. cases for $100 per case. There is a selling commission of $20 per case. The January direct materials, direct labor, and factory overhead costs are as follows: following information was gathered from the first six months of operation regarding this cost: 1. Determine the fixed and variable portions of the utility cost using the high-low method. Round the per unit cost to the nearest cent. 2. Determine the contribution margin per case. Round your answer to the nearest cent. Contribution margin per case $ 3. Determine the fixed costs per month, including the utility fixed cost from part (1). 4. Determine the break-even number of cases per month. $ cases 5. Prepare the August production budget. 6. Prepare the August direct materials purchases budget. Enter the unit price to the nearest cent. 7. Prepare the August direct labor cost budget. For hours required, round to nearest whole hour. For hourly rate, enter to the nearest cent, if required. Genuine Spice Inc. Direct Labor Cost Budget For the Month Ended August 31 \begin{tabular}{lccc} \hline & Mixing & Filling & Total \\ \hline Hours required for production of: & & & \end{tabular} 8. Prepare the August factory overhead cost budget. If an amount box does not require an entry, leave it blank 9. Prepare the August budgeted income statement, including selling expenses. Direct Materials Price Variance: Enter the standard price to two decimal places. Direct Materials Ouantitv Variance: 11. Determine and interpret the direct labor rate and time variances for the two departments. Do not round hours. Enter the costs in dollars and cents. Direct Labor Rate Variance: nimant than Tima Viominman. 13. Determine and interpret the factory overhead volume variance. Round rate to four decimal places and round your final answer to two decimal places. 14. The production volume of cases was planned at the beginning of August. The variances compare the actual cost and the standard cost of for the month. Thus, the standard cost must be based on the units of actual production. Comprehensive Problem 5 Part A: Note: You must complete part A before completing parts B and C. cases for $100 per case. There is a selling commission of $20 per case. The January direct materials, direct labor, and factory overhead costs are as follows: following information was gathered from the first six months of operation regarding this cost: 1. Determine the fixed and variable portions of the utility cost using the high-low method. Round the per unit cost to the nearest cent. 2. Determine the contribution margin per case. Round your answer to the nearest cent. Contribution margin per case $ 3. Determine the fixed costs per month, including the utility fixed cost from part (1). 4. Determine the break-even number of cases per month. $ cases 5. Prepare the August production budget. 6. Prepare the August direct materials purchases budget. Enter the unit price to the nearest cent. 7. Prepare the August direct labor cost budget. For hours required, round to nearest whole hour. For hourly rate, enter to the nearest cent, if required. Genuine Spice Inc. Direct Labor Cost Budget For the Month Ended August 31 \begin{tabular}{lccc} \hline & Mixing & Filling & Total \\ \hline Hours required for production of: & & & \end{tabular} 8. Prepare the August factory overhead cost budget. If an amount box does not require an entry, leave it blank 9. Prepare the August budgeted income statement, including selling expenses. Direct Materials Price Variance: Enter the standard price to two decimal places. Direct Materials Ouantitv Variance: 11. Determine and interpret the direct labor rate and time variances for the two departments. Do not round hours. Enter the costs in dollars and cents. Direct Labor Rate Variance: nimant than Tima Viominman. 13. Determine and interpret the factory overhead volume variance. Round rate to four decimal places and round your final answer to two decimal places. 14. The production volume of cases was planned at the beginning of August. The variances compare the actual cost and the standard cost of for the month. Thus, the standard cost must be based on the units of actual production