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Cost Accounting Sec 01 F 21 Moaaz Alenezi : 10/30/21 11:29 PM = Homework: Hw CH 9 #3 Question 1, P9-37 (simil... Part 11 of 13 HW Score: 47.06%, 2.35 of 5 points Points: 2.35 of 5 Save Super Lager has just purchased the Pittsburgh Brewery. The brewery is 2 years old and uses absorption costing. It will "sell its product to Super Lager at $42 per barrel. Peter Bryant, Super Lager's controller, obtains the following information about Pittsburgh Brewery's capacity and budgeted fixed manufacturing costs for 2020: (Click the icon to view the information.) Read the requirements. Per barrel Denominator-level capacity concept Budgeted fixed Budgeted Budgeted MOH rate variable mfg total mfg Fixed MOH per barrel cost rate cost rate costs allocated $ 6.75 $ 30.30 $ 37.05 $ 17,685,000 8.10 30.30 38.40 21,222,000 Theoretical capacity Practical capacity Normal capacity utilization 9.93 30.30 40.23 26,016,600 Now compute the operating income for each capacity concept, one at a time. Label the Theoretical ........ Requirements capacity Revenues Cost of goods sold Beginning inventory Variable manufacturing costs 1. Compute the budgeted fixed manufacturing overhead rate per barrel for each of the denominator-level capacity concepts. Explain why they are different. 2. In 2020, the Pittsburgh Brewery reported these production results: A B 17,685,000 12 Beginning inventory in barrels, 1-1-2020 0 Fixed manufacturing overhead cost allocated Cost of goods available for sale 13 Production in barrels 2,620,000 8521500 8915000 U Deduct ending inventory Adjustment for variances Cost of goods sold Gross margin 14 Ending inventory in barrels, 12-31-2020 230,000 15 Actual variable manufacturing costs $ 79,386,000 16 Actual fixed manufacturing overhead costs $ 26,600,000 There are no variable cost variances. Fixed manufacturing overhead cost variances are written off to cost of goods sold in the period in which they occur. Compute the Pittsburgh Brewery's operating income when the denominator-level capacity is (a) theoretical capacity, (b) practical capacity, and (c) normal capacity utilization. 0 Other costs Operating income Help me solve this Etext pages Calculator O Print Done lear all Check