EX23 3this is a practice problem with two parts Genie in a Bottle Company (GBC) manufactures plastic two-liter bottlesfor the beverage industry. The cost standards per 100 two-liter bottlesare as follows:Cost CategoryDirect laborDirect materialsFactory overheadTotalStandard Costper 100 Two-LiterBottles$ 2.009.100.55$11.65Cost CategoryDirect laborDirect materialsFactory overheadTotalExcelAt the beginning of July, GBC management planned to produce 400,000 bottles. Theactual number of bottles produced for July was 406,000 bottles. The actual costs forJuly of the current year were as follows:Actual Cost for theMonth Ended July 31$ 7,54035,7502,680$45,970ShowMeHow a.b.Manufacturing costs:Direct laborDirect materialsFactory overheadTotalManufacturing costs:Direct laborDirect materialsFactory overheadTotalGENIE IN A BOTTLE COMPANYManufacturing Cost BudgetFor the Month Ended July 31Batchesof 100 xActualCostsCost perBatch of100GENIE IN A BOTTLE COMPANYManufacturing Costs Budget Performance ReportFor the Month Ended July 31Batchesof 100Standard Cost atPlanned Volume(400,000 bottles)Standard Cost at Actual Volume(406,000 bottles)Cost perx Batch of 100Cost Variance(Favorable)Unfavorable

Name: EX23 3this is a practice problem with two parts Genie in a Bottle Comp
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Description: EX23 3this is a practice problem with two parts Genie in a Bottle Company (GBC) manufactures plastic two-liter bottlesfor the beverage industry. The cost standards per 100 two-liter bottlesare as follows:Cost CategoryDirect laborDirect materialsFacto

A manufacturing cost budget is a budget that includes three elements that estimate the materials…

Business

Accounting

b. Manufacturing costs: Direct labor Direct materials Factory overhead Total Manufacturing costs: Direct labor Direct materials Factory overhead Total GENIE IN A BOTTLE COMPANY Manufacturing Cost Budget For the Month Ended July 31 Batches of 100 Actual Costs Cost per Batch of 100 GENIE IN A BOTTLE COMPANY Manufacturing Costs Budget Performance Report For the Month Ended July 31 Batches of 100 Standard Cost at Planned Volume (400,000 bottles) Standard Cost at Actual Volume (406,000 bottles) Cost per x Batch of 100 Cost Variance (Favorable) Unfavorable

b. Manufacturing costs: Direct labor Direct materials Factory overhead Total Manufacturing costs: Direct labor Direct materials Factory overhead Total GENIE IN A BOTTLE COMPANY Manufacturing Cost Budget For the Month Ended July 31 Batches of 100 Actual Costs Cost per Batch of 100 GENIE IN A BOTTLE COMPANY Manufacturing Costs Budget Performance Report For the Month Ended July 31 Batches of 100 Standard Cost at Planned Volume (400,000 bottles) Standard Cost at Actual Volume (406,000 bottles) Cost per x Batch of 100 Cost Variance (Favorable) Unfavorable

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter9: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 3E: Salisbury Bottle Company manufactures plastic two-liter bottles for the beverage industry. The cost...

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