The Burnett Manufacturing Company's costing system has two direct-cost categories: direct materials and direct manufacturing labor....
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The Burnett Manufacturing Company's costing system has two direct-cost categories: direct materials and direct manufacturing labor. Manufacturing overhead (both variable and fixed) is allocated to products on the basis of standard direct manufacturing labor-hours (DMLH). AI the beginning of 2020, Burnett adopted the following standards for its manufacturing costs: E(Click to view the standards.) E (Click to view additional information.) Read the requirements. Direct materials 95,700 $ 99,000 $ 87,000 24 88,800 a. Direct materials price variance, based on purchases, is $ 3,300 F b. The direct materials efficiency variance is $ 1,800 F Now complete the table for direct labor. Actual Costs Actual Input Quantity Incurred Flexible x Budgeted Price Budget Direct Manufacturing Labor 819,425 $ 853,100 $ 843,600 c. The direct manufacturing labor price variance is $ 33,675 F d. The direct manufacturing labor efficiency variance is $ 9,500 Next, complete the table for variable overhead. Actual Input Actual Costs Quantity x Budgeted Flexible Allocated Incurred Price Budget Overhead Variable Manufacturing Overhead Etext pages Calculator Ask my instructor Close The Burnett Manufacturing Company's costing system has two direct-cost categories: direct materials and direct manufacturing labor. Manufacturing overhead (both variable and fixed) is allocated to products on the basis of standard direct manufacturing labor-hours (DMLH). At the beginning of 2020, Burnett adopted the following standards for its manufacluring costs: E(Click to view the standards.) E (Click to view additional information.) Read the requirements. Requirement 1. Prepare a schedule of total standard manufacturing costs for the 7,400 output units in January 2020. Direct materials 88,800 Direct manufacturing labor 843,600 Variable manufacturing overhead 310,800 444.000 Fixed manufacturing overhead 1,687,200 Total Requirement 2. For the month of January 2020, compute the variances, indicating whether cach is favorable (F) or unfavorable (U). Before computing the varlances complete the tables below. Begin by completing the table for direct materials. Actual Input Quantity x Budgeted Price Actual Costs Incurred Flexible Budget Purchases Usage Direct materials 95,700 $ 99,000 $ 87,000 $ 88,800 a. Direct materials price variance, based on purchases, is $ 3,300 F Etext pages Calculator Ask my instructor Close Data table Data table of standa Cost per The denominator level for total manufacturing overhead per month in 2020 is 38,000 direct manufacturing labor-hours. Bumett's budget for January 2020 was based on this denominator level. The records for January indicated the following: Input Output Unit Direct materials 2 lb. at $6 per Ib. $ 12.00 Direct manufacturing labor 6 hrs, at $19 per hr. 114.00 Direct materlals purchased 16.500 Ib. at S5.80 per Ib Variable manufacturing overhead $7 per DMLH 42.00 Direct materials used 14.500 Ib. Fixed manufacturing overhead $10 per DMLH 60.00 Direct manufacturing labor 44.900 hrs. at $18.25 per hr Total actual manufacturing overhead (variable and fixed) $ 228.00 Standard manufacturing cost per output unit $650,000 Actual production 7,400 output units Don - X Print Requirements Done 1. Prepare a schedule of total standard manufacturing costs for the 7,400 output units in January 2020. Requirement 2. For the month of January 2020, compute the Before computing the variances complete the tables below. Be 2. For the month of January 2020, compute the following variances, indicating whether each is favorable (F) or unfavorable (U): a. Direct materials price variance, based on purchases b. Direct materials efficiency variance c. Direct manufacturing labor price variance d. Direct manufacturing labor efficiency variance e. Total manufacturing overhead spending variance f. Variable manufacturing overhead efficiency variance g. Production-volume variance Actual Input Quant Budgeted Price Actual Costs Incurred Purchases Us Direct materials 2$ 95,700 $ 99,000 $ 87 a. Direct materials price variance, based on purchases, is Etext pages Calculator Ask my instruct Print Done The Burnett Manufacturing Company's costing system has two direct-cost categories: direct materials and direct manufacturing labor. Manufacturing overhead (both variable and fixed) is allocated to products on the basis of standard direct manufacturing labor-hours (DMLH). AI the beginning of 2020, Burnett adopted the following standards for its manufacturing costs: E(Click to view the standards.) E (Click to view additional information.) Read the requirements. Direct materials 95,700 $ 99,000 $ 87,000 24 88,800 a. Direct materials price variance, based on purchases, is $ 3,300 F b. The direct materials efficiency variance is $ 1,800 F Now complete the table for direct labor. Actual Costs Actual Input Quantity Incurred Flexible x Budgeted Price Budget Direct Manufacturing Labor 819,425 $ 853,100 $ 843,600 c. The direct manufacturing labor price variance is $ 33,675 F d. The direct manufacturing labor efficiency variance is $ 9,500 Next, complete the table for variable overhead. Actual Input Actual Costs Quantity x Budgeted Flexible Allocated Incurred Price Budget Overhead Variable Manufacturing Overhead Etext pages Calculator Ask my instructor Close The Burnett Manufacturing Company's costing system has two direct-cost categories: direct materials and direct manufacturing labor. Manufacturing overhead (both variable and fixed) is allocated to products on the basis of standard direct manufacturing labor-hours (DMLH). At the beginning of 2020, Burnett adopted the following standards for its manufacluring costs: E(Click to view the standards.) E (Click to view additional information.) Read the requirements. Requirement 1. Prepare a schedule of total standard manufacturing costs for the 7,400 output units in January 2020. Direct materials 88,800 Direct manufacturing labor 843,600 Variable manufacturing overhead 310,800 444.000 Fixed manufacturing overhead 1,687,200 Total Requirement 2. For the month of January 2020, compute the variances, indicating whether cach is favorable (F) or unfavorable (U). Before computing the varlances complete the tables below. Begin by completing the table for direct materials. Actual Input Quantity x Budgeted Price Actual Costs Incurred Flexible Budget Purchases Usage Direct materials 95,700 $ 99,000 $ 87,000 $ 88,800 a. Direct materials price variance, based on purchases, is $ 3,300 F Etext pages Calculator Ask my instructor Close Data table Data table of standa Cost per The denominator level for total manufacturing overhead per month in 2020 is 38,000 direct manufacturing labor-hours. Bumett's budget for January 2020 was based on this denominator level. The records for January indicated the following: Input Output Unit Direct materials 2 lb. at $6 per Ib. $ 12.00 Direct manufacturing labor 6 hrs, at $19 per hr. 114.00 Direct materlals purchased 16.500 Ib. at S5.80 per Ib Variable manufacturing overhead $7 per DMLH 42.00 Direct materials used 14.500 Ib. Fixed manufacturing overhead $10 per DMLH 60.00 Direct manufacturing labor 44.900 hrs. at $18.25 per hr Total actual manufacturing overhead (variable and fixed) $ 228.00 Standard manufacturing cost per output unit $650,000 Actual production 7,400 output units Don - X Print Requirements Done 1. Prepare a schedule of total standard manufacturing costs for the 7,400 output units in January 2020. Requirement 2. For the month of January 2020, compute the Before computing the variances complete the tables below. Be 2. For the month of January 2020, compute the following variances, indicating whether each is favorable (F) or unfavorable (U): a. Direct materials price variance, based on purchases b. Direct materials efficiency variance c. Direct manufacturing labor price variance d. Direct manufacturing labor efficiency variance e. Total manufacturing overhead spending variance f. Variable manufacturing overhead efficiency variance g. Production-volume variance Actual Input Quant Budgeted Price Actual Costs Incurred Purchases Us Direct materials 2$ 95,700 $ 99,000 $ 87 a. Direct materials price variance, based on purchases, is Etext pages Calculator Ask my instruct Print Done
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1 Prepare a schedule of total standard manufacturing costs for the 7400 output units in January 2020 Given data Direct materials 88800 Direct manufact... View the full answer
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Horngrens Cost Accounting A Managerial Emphasis
ISBN: 978-0134475585
16th edition
Authors: Srikant M. Datar, Madhav V. Rajan
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