Fiberfill 3 lbs. $.55/lb. Goose down 8 lbs. $2.90/lb. Fabric 4 yards $4.40/ yd. Cutting .40 hour
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Question:
Fiberfill | 3 lbs. | $.55/lb. |
Goose down | 8 lbs. | $2.90/lb. |
Fabric | 4 yards | $4.40/ yd. |
Cutting | .40 hour | $14.30 per hour |
Sewing | .60 hour | $15.00 per hour |
Finishing | .75 hour | $15.10 per hour |
Var. Overhead | 1.75 hours | $2.00 per DLHR |
Fixed Overhead | 1.75 hours | $3.00 per DLHR |
Fixed Overhead: (Based on ESTIMATED monthly production of 2,200 units):
Monthly Budgeted Fixed OH would be: $___________
REQUIRED:
Prepare Monthly variance reports for Material Variances (price and quantity) for each material, Labor Variances for each department (rate and efficiency), and Factory Overhead Variances (four variance method).
Create a business memo mentioning areas of concern, all variances +/- over $1,000 or any concerning trends.
Transcribed Image Text:
Production Units Direct Labor: Cutting: Hours Costs Sewing: Hours Costs Finishing: Hours Costs Materials Used: Fiberfill: Pounds Price Down: Pounds Price ACTUALS FOR COMFORTER PROJECT Cotton fabric: Yards Price Fixed Variable JULY 1,900 750 $ 10,700.00 $ AUGUST 990 $ 14,250.00 $ 5,800 $ 2,700.00 $ Ten Factory Overhead:Actual Costs $ 10,888.00 $ 6,550.00 $ $ 1,955 770 1,450 1,450 $ 21,750.00 $ 21,895.00 $ SEPTEMBER 11,000.00 $ 988 14,750.00 $ 15,400 15,600 $ 37,000.00 $ 39,125.00 $ 7800 7800 $ 35,000.00 $ 35,110.00 $ 5,870 3,000.00 $ 10,890.00 $ 6,600.00 $ 2,030 805 11,270.00 1,010 15,450.00 1,555 23,014.00 6,109 3,088.00 16,250 40,785.00 8105 36,510.00 11,001.00 6,770.00 Production Units Direct Labor: Cutting: Hours Costs Sewing: Hours Costs Finishing: Hours Costs Materials Used: Fiberfill: Pounds Price Down: Pounds Price ACTUALS FOR COMFORTER PROJECT Cotton fabric: Yards Price Fixed Variable JULY 1,900 750 $ 10,700.00 $ AUGUST 990 $ 14,250.00 $ 5,800 $ 2,700.00 $ Ten Factory Overhead:Actual Costs $ 10,888.00 $ 6,550.00 $ $ 1,955 770 1,450 1,450 $ 21,750.00 $ 21,895.00 $ SEPTEMBER 11,000.00 $ 988 14,750.00 $ 15,400 15,600 $ 37,000.00 $ 39,125.00 $ 7800 7800 $ 35,000.00 $ 35,110.00 $ 5,870 3,000.00 $ 10,890.00 $ 6,600.00 $ 2,030 805 11,270.00 1,010 15,450.00 1,555 23,014.00 6,109 3,088.00 16,250 40,785.00 8105 36,510.00 11,001.00 6,770.00
Expert Answer:
Answer rating: 100% (QA)
MATERIAL VARIANCES Fiberfill Price Variance Actual Price per pound of Fiberfill Budgeted Price per pound of Fiberfill 55 50 05 05 x 5800 pounds used 290 05 x 6109 pounds used ... View the full answer
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