Solid Box Fabrications manufactures boxes for workstations. The firms standard cost sheet prior to October of the
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Solid Box Fabrications manufactures boxes for workstations. The firm’s standard cost sheet prior to October of the current year and actual results for October are as follows:
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Required information [The following information applies to the questions displayed below.] Solid Box Fabrications manufactures boxes for workstations. The firm's standard cost sheet prior to October of the current year and actual results for October are as follows: Units Sales Variable costs: Direct materials 5 pounds at $2.50 per pound Direct labor 0.50 hour at $14.00 per hour Manufacturing overhead Selling and administrative Total variable costs Contribution margin Fixed costs: Manufacturing (factory) overhead Selling and administrative Total fixed costs Operating income Budget Information Standard Price and Variable Costs per Unit $ 50.00 $ 12.60 7.00 2.00 5.00 $26.60 $ 23.40 Fixed Costs $ 46,000 20,000 $ 66,000 51,200 16** $3 = $16.80 = 5,200 hr Actual Results October 9,500 $ 551,000 $ 153,600 87,360 10,000 45,000 $ 295,960 $ 255,040 $ 55,000 20,000 $ 75,000 $ 180,040 Required information [The following information applies to the questions displayed below.] Solid Box Fabrications manufactures boxes for workstations. The firm's standard cost sheet prior to October of the current year and actual results for October are as follows: Units Sales Variable costs: Direct materials 5 pounds at $2.50 per pound Direct labor 0.50 hour at $14.00 per hour Manufacturing overhead Selling and administrative Total variable costs Contribution margin Fixed costs: Manufacturing (factory) overhead Selling and administrative Total fixed costs Operating income Budget Information Standard Price and Variable Costs per Unit $ 50.00 $ 12.60 7.00 2.00 5.00 $26.60 $ 23.40 Fixed Costs $ 46,000 20,000 $ 66,000 51,200 16** $3 = $16.80 = 5,200 hr Actual Results October 9,500 $ 551,000 $ 153,600 87,360 10,000 45,000 $ 295,960 $ 255,040 $ 55,000 20,000 $ 75,000 $ 180,040
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MasterStatic Budget Pro Forma Budgets Units 10000 9500 11000 Sales 540000 513000 594000 Variable costs Direct materials 132300 125685 145530 Direct la... View the full answer
Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 978-0078110894
6th Edition
Authors: Edmonds, Tsay, olds
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