Please explain how to get all the answers and completed the ones that are blank.

Beauville Furniture Corporation produces sofas, recliners, and lounge chairs. Beauville is located in a medium-sized community in the southeastern part of the United fabric plant, and a furniture plant in the same community. The sawmill buys logs from independent producers. The sawmill then processes the logs into four grades of lumber: firsts and seconds, 2 common, and No. 3 common. All costs incurred in the mill are common to the four grades of lumber. All four grades of lumber are used by the furniture plant. The mill transfers everything it produces to the furniture plant, and the grades are transferred at cost. Trucks are used to move the lumber from the mill to the furniture plant. Although no outside sales exist, the mill could sell to external customers, and the selling prices of the four grades are known. The fabric plant is responsible for producing the fabric that is used by the furniture plant. To produce three totally different fabrics (identified by fabric ID codes FB60, weaving and pattern process, yarn is used to create yards of fabric with different designs. In the next process, the fabric is dyed, cut into 25 -yard sections, and wrapped around cardboard rods to form 25-yard bolts. The bolts are transported by forklift to the furniture plant's Receiving Department. All of the output of the fabric plant is used by the furniture plant (to produce the sofas and chairs). For accounting purposes, the fabric is transferred at cost to the furniture plant. The furniture plant produces orders for customers on a special-order basis. The customers specify the quantity, style, fabric, lumber grade, and pattern a Tye large (involving at least 500 units). The plant has two production departments: Cutting and Assembly. In the Cutting Department, the fabric and wooden frame wooden components are finished for the entire job, they are moved to the Assembly Department. The Assembly Department takes the individual components and assembles the sofas (or chairs). Beauville Furniture has been in business for over two decades and has a good reputation. However, during the past five years, Beauville experienced eroding profits and common sofa job involving 500 units, Beauville's bids were running $25 per unit, or $12,500 per job more than the winning bids (on average). Yet, on the more difficult items, Beauville's bids were running about $60 per unit less than the next closest bid. Gisela Berling, vice president of finance, was assigned the task of analysis of the company's product lines. Lance wanted to know if the company's costs were excessive. Perhaps the company was being wasteful, and it was simply costing more to produce furniture than it was costing its competitors. Gisela prepared herself by reading recent literature on cost management and product costing and attending several conferences that explored the same issues. She then to all lumber grades and were assigned using the physical units method. Since the output and production costs were fairly uniform throughout the year, the mill used an actual costing system. Although Gisela had no difficulty with actual costing, she decided to explore the effects of using the sales-value-at-split-off method. Thus, cost and costing procedures for the fabric plant were satisfactory. Essentially, there was no evidence of product diversity. A statistical analysis revealed that about 90 percent of variability in the plant's overhead cost could be explained by direct labor hours. Thus, the use of a plantwide overhead rate based on direct labor hours seemed What did concern her, though, was the material waste that she observed in the plant. Maybe a standard cost system would be useful for increasing the overall cost efficiency of the plant. Consequently, as part of her report to Lance, she decided to include a description of the fabric plant's costing procedures-at least for one present and could be causing some distortions in product costs. Furthermore, statistical analysis revealed that only about 40 percent of the variability in overhead cost was explained by the direct labor hours. She decided that additional analysis was needed so that a sound product costing method could be resility Finally, she also wanted to explore the possibility of converting the sawmill and fabric plant into profit centers and changing the existing transfer pricing policy. With the cooperation of the cost accounting manager for the mill and each plant's controller, she gathered the following data for last year: Sawmill: Joint manufacturing costs: $900,000 nenartmental data nn Fahrir FR70 (artulal enete and artulal nutrnmee). kUnits are measured in yards for the Weaving and Pattern Department and in bolts for the Coloring and Bolting Department. Note: With the exception of the cardboard bolt rods, materials are added at the beginning of each process. The cost of the rods is relatively insignificant and included in overhead. Proposed standard cost sheet for Fabric FB70 (for the Coloring and Bolting Department only): Furniture Plant: Departmental data (budgeted): After some discussion with the furniture plant controller, Gisela decided to use machine hours to calculate the overhead rate for the Cutting Department and direct labor was experiencing. information on the two jobs: Job A500: Direct materials: Fabric FB70 180 bolts @ $350 Lumber (No. 1 common) 20,000 board feet @ $0.12 Other components $26,600 Direct labor: Cutting Department 400 hours @ \$10 Assembly Department 1,600 hours @ \$8.75 Machine time: Cutting Department 350 machine hours Assembly Department 50 machine hours Job B75: Direct labor: CuttingDepartmentAssemblyDepartment70hours@$10240hours@$8.75 Machine time: Cutting Department 90 machine hours Assembly Department 15 machine hours Required: 5b. Prepare the journal entries for materials and labor: i. Purchase of 400,000 ounces of other materials ii. Usage of 400,000 ounces of other materials iii. Assignment of direct labor costs If an amount box does not require an entry, leave it blank. Feeduack Check My Wirrk 5c. Assume that the standard hours allowed for the actual total output of the fabric plant are 115,000 . Calculate the following variances (round to whole dollar): Enter all amounts as positive numbers. I. Purchase of 400,000 ounces of other materials ii. Usage of 400,000 ounces of other materials iii, Assignment of direct labor costs If an amount box does not require an entry, leave it blank. Feodhack Check My Work 5c. Assume that the standard hours allowed for the actual total output of the fabric plant are 115,000 . Calculate the following variances (round to whole dollar): Enter all amounts as positive numbers. Beauville Furniture Corporation produces sofas, recliners, and lounge chairs. Beauville is located in a medium-sized community in the southeastern part of the United fabric plant, and a furniture plant in the same community. The sawmill buys logs from independent producers. The sawmill then processes the logs into four grades of lumber: firsts and seconds, 2 common, and No. 3 common. All costs incurred in the mill are common to the four grades of lumber. All four grades of lumber are used by the furniture plant. The mill transfers everything it produces to the furniture plant, and the grades are transferred at cost. Trucks are used to move the lumber from the mill to the furniture plant. Although no outside sales exist, the mill could sell to external customers, and the selling prices of the four grades are known. The fabric plant is responsible for producing the fabric that is used by the furniture plant. To produce three totally different fabrics (identified by fabric ID codes FB60, weaving and pattern process, yarn is used to create yards of fabric with different designs. In the next process, the fabric is dyed, cut into 25 -yard sections, and wrapped around cardboard rods to form 25-yard bolts. The bolts are transported by forklift to the furniture plant's Receiving Department. All of the output of the fabric plant is used by the furniture plant (to produce the sofas and chairs). For accounting purposes, the fabric is transferred at cost to the furniture plant. The furniture plant produces orders for customers on a special-order basis. The customers specify the quantity, style, fabric, lumber grade, and pattern a Tye large (involving at least 500 units). The plant has two production departments: Cutting and Assembly. In the Cutting Department, the fabric and wooden frame wooden components are finished for the entire job, they are moved to the Assembly Department. The Assembly Department takes the individual components and assembles the sofas (or chairs). Beauville Furniture has been in business for over two decades and has a good reputation. However, during the past five years, Beauville experienced eroding profits and common sofa job involving 500 units, Beauville's bids were running $25 per unit, or $12,500 per job more than the winning bids (on average). Yet, on the more difficult items, Beauville's bids were running about $60 per unit less than the next closest bid. Gisela Berling, vice president of finance, was assigned the task of analysis of the company's product lines. Lance wanted to know if the company's costs were excessive. Perhaps the company was being wasteful, and it was simply costing more to produce furniture than it was costing its competitors. Gisela prepared herself by reading recent literature on cost management and product costing and attending several conferences that explored the same issues. She then to all lumber grades and were assigned using the physical units method. Since the output and production costs were fairly uniform throughout the year, the mill used an actual costing system. Although Gisela had no difficulty with actual costing, she decided to explore the effects of using the sales-value-at-split-off method. Thus, cost and costing procedures for the fabric plant were satisfactory. Essentially, there was no evidence of product diversity. A statistical analysis revealed that about 90 percent of variability in the plant's overhead cost could be explained by direct labor hours. Thus, the use of a plantwide overhead rate based on direct labor hours seemed What did concern her, though, was the material waste that she observed in the plant. Maybe a standard cost system would be useful for increasing the overall cost efficiency of the plant. Consequently, as part of her report to Lance, she decided to include a description of the fabric plant's costing procedures-at least for one present and could be causing some distortions in product costs. Furthermore, statistical analysis revealed that only about 40 percent of the variability in overhead cost was explained by the direct labor hours. She decided that additional analysis was needed so that a sound product costing method could be resility Finally, she also wanted to explore the possibility of converting the sawmill and fabric plant into profit centers and changing the existing transfer pricing policy. With the cooperation of the cost accounting manager for the mill and each plant's controller, she gathered the following data for last year: Sawmill: Joint manufacturing costs: $900,000 nenartmental data nn Fahrir FR70 (artulal enete and artulal nutrnmee). kUnits are measured in yards for the Weaving and Pattern Department and in bolts for the Coloring and Bolting Department. Note: With the exception of the cardboard bolt rods, materials are added at the beginning of each process. The cost of the rods is relatively insignificant and included in overhead. Proposed standard cost sheet for Fabric FB70 (for the Coloring and Bolting Department only): Furniture Plant: Departmental data (budgeted): After some discussion with the furniture plant controller, Gisela decided to use machine hours to calculate the overhead rate for the Cutting Department and direct labor was experiencing. information on the two jobs: Job A500: Direct materials: Fabric FB70 180 bolts @ $350 Lumber (No. 1 common) 20,000 board feet @ $0.12 Other components $26,600 Direct labor: Cutting Department 400 hours @ \$10 Assembly Department 1,600 hours @ \$8.75 Machine time: Cutting Department 350 machine hours Assembly Department 50 machine hours Job B75: Direct labor: CuttingDepartmentAssemblyDepartment70hours@$10240hours@$8.75 Machine time: Cutting Department 90 machine hours Assembly Department 15 machine hours Required: 5b. Prepare the journal entries for materials and labor: i. Purchase of 400,000 ounces of other materials ii. Usage of 400,000 ounces of other materials iii. Assignment of direct labor costs If an amount box does not require an entry, leave it blank. Feeduack Check My Wirrk 5c. Assume that the standard hours allowed for the actual total output of the fabric plant are 115,000 . Calculate the following variances (round to whole dollar): Enter all amounts as positive numbers. I. Purchase of 400,000 ounces of other materials ii. Usage of 400,000 ounces of other materials iii, Assignment of direct labor costs If an amount box does not require an entry, leave it blank. Feodhack Check My Work 5c. Assume that the standard hours allowed for the actual total output of the fabric plant are 115,000 . Calculate the following variances (round to whole dollar): Enter all amounts as positive numbers