Question: please ignore the answer in the boxes and answer in details also the formulas used. please keep the answer organized leaving space in middle. Give

 please ignore the answer in the boxes and answer in details

also the formulas used. please keep the answer organized leaving space in

middle. Give heading like DM cost variance= Thanku you I will like

for sure. Lexxx Company makes a widget that is known Worldwide for

its high quality! These widgets sell for $40 each! The standard dosu

dard is shown below: Standard Cost Card - Lexxx Widget DM 2.6

please ignore the answer in the boxes and answer in details also the formulas used. please keep the answer organized leaving space in middle. Give heading like DM cost variance= Thanku you I will like for sure.

Lexxx Company makes a widget that is known Worldwide for its high quality! These widgets sell for $40 each! The standard dosu dard is shown below: Standard Cost Card - Lexxx Widget DM 2.6 pounds IX $4.007 $ 10140 !! DL 0.50 DLH X $16/DLA 8.00 0:50 DLH FOH X 5.00 $10/DLH (Variable = $2/DLH Fixed + $8/DLH) Standard Cost' | $ 23.40 $ This period, 9,000 widgets were produced. Normal capacity this period was 8,000 widgets. The following actual data was gathered: Sales - the 9,000 widgets produced were sold for a total of $361,800. DM - 24,000 pounds of DM were purchased and used in production at a cost of $86,400. DL - 4,600 DLH were used at a total cost of $24.060. V FOH - Actual variable FOH was $9,800. F FOH - Actual Fixed FOH was $33,000. . Let's examine direct labor (DL) Nariances. Let's examine direct labor (DU) variances, The DL COST variance is $ 460 U 4.500 DLH The standard quantity of DLH for production is The DL EFFICIENCY variance is $ 1,600 U The total DL variance for the period is $ 2.060 U The DM COST variance is $9,600 P The standard quantity of DM for production is 24.000 pounds The DM EFFICIENCY variance is $ 2.400 U The total DM variance for the $ 7.200 F period is The VFOH COST variance is $ 600 U 4.500 DLH The standard quantity of DLH for production is The VFOH EFFICIENCY variance is $ 200 U The total VFOH variance for the period is $ 800 U The FFOH COST variance is $ 1.000 U The budgeted FFOH for the period is $ 32.000 The FFOH EFFICIENCY variance some other choice than those WA is The total FFOH variance for the period is $ 1,000 U 16 nto Factory overhead is (only use "U" for Underapplied and "O" for Overapplied) u by 2200 (no dollars sings, but numbers!)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!