Provide the entries to record the direct cost variances; Provide the entries to record the incurrence of
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Question:
- Provide the entries to record the direct cost variances;
- Provide the entries to record the incurrence of actual VMOH and FMOH, the allocation of VMOH and FMOH, and the variances for VMOH and FMOH;
- Provide the entry to make an adjustment to CGS
BUDGETED | ||||
Direct Materials | 5.00 | lbs. per unit | $30.00 | per lbs. |
Direct Labor | 2.00 | hours per unit | $25.00 | per hour |
VMOH | $3,200,000 | |||
FMOH | $5,600,000 | |||
MHRS | 80,000 | MHRS | ||
Production volume | 40,000 | units | ||
Allocation base | MHRS | |||
ACTUAL | ||||
Direct Materials | 4.50 | lbs. per unit | $32.00 | per lbs. |
Direct Labor | 2.50 | hours per unit | $22.00 | per hour |
VMOH | $3,192,000 | |||
FMOH | $5,300,000 | |||
MHRS | 84,000 | MHRS | ||
Production volume | 35,000 | units |
Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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