Bowie Sporting Goods manufactures sleeping bags. The manufacturing standards per sleeping bag, based on 5,000 sleeping bags per month, are as follows: Direct material of 4.00 yards at $6.00 per yard Direct labor of 3.00 hours at $16.00 per hour Overhead applied per sleeping bag at $18.00 In the month of April, the company actually produced 5,200 sleeping bags using 27,300 yards of material at a cost of $5.10 per yard. The labor used was 11,700 hours at an average rate of $20.50 per hour. The actual overhead spending was $96,200.

Bowie Sporting Goods manufactures sleeping bags. The manufacturing standards per sleeping bag, based on 5,000 sleeping bags per month, are as follows: Direct material of 4.00 yards at $6.00 per yard Direct labor of 3.00 hours at $16.00 per hour Overhead applied per sleeping bag at $18.00 In the month of April, the company actually produced 5,200 sleeping bags using 27,300 yards of material at a cost of $5.10 per yard. The labor used was 11,700 hours at an average rate of $20.50 per hour. The actual overhead spending was $96,200.

Name: Bowie Sporting Goods manufactures sleeping bags. The manufacturing st
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Bowie Sporting Goods manufactures sleeping bags. The manufacturing standardsper sleeping bag, based on 5,000 sleeping bags per month, are as follows:Direct material of 4.00 yards at $6.00 per yardDirect labor of 3.00 hours at $16.00 per hourOverhead

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct materials: 6 pounds at $8 per pound Direct labor: 4 hours at $17 per hour Variable overhead: 4 hours at $4 per hour Total standard cost per unit $ 48 68 16 $132 The planning budget for March was based on producing and selling 19,000 units. However, during March the company actually produced and sold 24,000 units and incurred the following costs: a. Purchased 160,000 pounds of raw materials at a cost of $7.20 per pound. All of this material was used in production. b. Direct laborers worked 72,000 hours at a rate of $18 per hour. c. Total variable manufacturing overhead for the month was $336,960. Foundational 10-1 Required: 1. What raw materials cost would be included in the company's planning budget for March?
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct materials: 5 pounds at $9 per pound Direct labor: 3 hours at $14 per hour Variable overhead: 3 hours at $8 per hour Total standard cost per unit $ 45 42 24 $ 111 The planning budget for March was based on producing and selling 28,000 units. However, during March the company actually produced and sold 34,000 units and incurred the following costs: a. Purchased 180,000 pounds of raw materials at a cost of $8.50 per pound. All of this material was used in production. b. Direct laborers worked 69,000 hours at a rate of $15 per hour. c. Total variable manufacturing overhead for the month was $565,110. 13. What variable manufacturing overhead cost would be included in the company's flexible budget for March? Variable manufacturing overhead cost
Cozy, Inc., manufactures small and large blankets. It estimates $389,225 in overhead during the manufacturing of 97,902 small blankets and 73,121 large blankets. What is the predetermined overhead rate per machine hour if a small blanket takes 7 machine hour and a large blanket takes 9 machine hours? Round to the nearest penny, two decimal places.
Dawson Toys, Limited, produces a toy called the Maze. The company has recently created a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 7 microns per toy at $0.32 per micron Direct labor: 1.4 hours per toy at $7.20 per hour During July, the company produced 5,400 Maze toys. The toy's production data for the month are as follows: Direct materials. 77,000 microns were purchased at a cost of $0.28 per micron. 29,750 of these microns were still in inventory at the end of the month. Direct labor. 8,160 direct labor-hours were worked at a cost of $63,648. Required: 1. Compute the following variances for July: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations. Round final answer to the nearest whole dollar amount.) a. The materials price and quantity…
Alpesh
Dawson Toys, Limited, produces a toy called the Maze. The company has recently created a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 6 microns per toy at $0.33 per micron Direct labor: 1.1 hours per toy at $7.40 per hour During July, the company produced 5,400 Maze toys. The toy's production data for the month are as follows: Direct materials: 73,000 microns were purchased at a cost of $0.30 per micron. 32,500 of these microns were still in inventory at the end of the month. Direct labor. 6,540 direct labor-hours were worked at a cost of $50,358. Required: 1. Compute the following variances for July: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations. Round final answer to the nearest whole dollar amount.) a. The materials price and quantity…
s
Sagar
The total factory overhead for Landen Company is budgeted for the year at $675,000. Landen manufactures two drapery products: sheer curtains and insulated curtains. These products each require 6 direct labor hours (dlh) to manufacture. Each product is budgeted for 7,500 units of production for the year. What would the factory overhead allocated per unit for insulated curtains using the single plantwide factory overhead rate be? a.$15.00 b.$270.00 c.$45.00 d.$90.00
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct materials: 6 pounds at $8 per pound $ 48 Direct labor: 4 hours at $17 per hour 68 Variable overhead: 4 hours at $4 per hour 16 Total standard cost per unit $ 132 The planning budget for March was based on producing and selling 19,000 units. However, during March the company actually produced and sold 24,000 units and incurred the following costs: Purchased 160,000 pounds of raw materials at a cost of $7.20 per pound. All of this material was used in production. Direct laborers worked 72,000 hours at a rate of $18 per hour. Total variable manufacturing overhead for the month was $336,960. 1. What raw materials cost would be included in the company’s planning budget for March? 2. What raw materials cost would be included in the company’s flexible budget for March? 3. What is the…
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct materials: 4 pounds at $10 per pound Direct labor: 2 hours at $16 per hour Variable overhead: 2 hours at so per hour Total standard cost per unit $ 84 The planning budget for March was based on producing and selling 30,000 units. However, during March the company actually produced and sold 34,500 units and incurred the following costs. a. Purchased 150,000 pounds of raw materials at a cost of $9.20 per pound. All of this material was used in production. b. Direct laborers worked 62,000 hours at a rate of $17 per hour. c. Total variable manufacturing overhead for the month was $390,600 References Foundational 10-1 (Algo) Required: 1. What raw materials cost would be included in the company's planning budget for March?
Munabhai