Genie in a Bottle Company (GBC) manufactures plastic two-liter bottles for the beverage industry. The cost standards per 100 two-liter bottles are as follows:

Cost Category		Standard Cost per 100 Two-Liter Bottles
Direct labor			$1.46
Direct materials			5.2
Factory overhead			0.3
	Total		$6.96

At the beginning of July, GBC management planned to produce 530,000 bottles. The actual number of bottles produced for July was 572,400 bottles. The actual costs for July of the current year were as follows:

Cost Category		Actual Cost for the Month Ended July 31
Direct labor						$8,190
Direct materials						29,050
Factory overhead						1,734
	Total					$38,974

Enter all amounts as positive numbers.

Question Content Area

a. Prepare the July manufacturing standard cost budget (direct labor, direct materials, and factory overhead) for WBC, assuming planned production.

Genie in a Bottle Company Manufacturing Cost Budget For the Month Ended July 31

	Standard Cost at Planned Volume (530,000 Bottles)
Manufacturing costs:
Direct labor	$fill in the blank
Direct materials	fill in the blank
Factory overhead	fill in the blank
Total	$fill in the blank

Question Content Area

b. Prepare a budget performance report for manufacturing costs, showing the total cost variances for direct materials, direct labor, and factory overhead for July. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Round your answers to two decimal places.

Genie in a Bottle Company Manufacturing Costs-Budget Performance Report For the Month Ended July 31

	Actual Costs	Standard Cost at Actual Volume (572,400 Bottles)	Cost Variance- (Favorable) Unfavorable
Manufacturing costs:
Direct labor	$fill in the blank	$fill in the blank	$fill in the blank
Direct materials	fill in the blank	fill in the blank	fill in the blank
Factory overhead	fill in the blank	fill in the blank	fill in the blank
Total manufacturing cost	$fill in the blank	$fill in the blank	$fill in the blank