Budget Performance Report Genie in a Bottle Company (GBC) manufactures plastic two-liter bottles for the beverage industry. The cost standards per 100 two-liter bottles are as follows: Cost Category Standard Costper 100 Two-LiterBottles Direct labor   $2.00       Direct materials   9.10       Factory overhead   0.55         Total   $11.65       At the beginning of July, GBC management planned to produce 400,000 bottles. The actual number of bottles produced for July was 406,000 bottles. The actual costs for July of the current year were as follows: Cost Category Actual Cost for theMonth Ended July 31 Direct labor         $7,540         Direct materials         35,750         Factory overhead         2,680           Total         $45,970         Enter all amounts as positive numbers. a.  Prepare the July manufacturing standard cost budget (direct labor, direct materials, and factory overhead) for GBC, assuming planned production. Genie In A Bottle Company Manufacturing Cost Budget For the Month Ended July 31   Standard Cost at Planned Volume(400,000 Bottles) Manufacturing costs:   Direct labor $ Direct materials   Factory overhead   Total $   Feedback   b.  Prepare a budget performance report for manufacturing costs, showing the total cost variances for direct materials, direct labor, and factory overhead for July. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Genie In A Bottle Company Manufacturing Costs-Budget Performance Report For the Month Ended July 31   Actual Costs Standard Cost at Actual Volume(406,000 Bottles) Cost Variance-(Favorable) Unfavorable Manufacturing costs:       Direct labor $ $ $ Direct materials       Factory overhead       Total manufacturing cost $ $ $

! Required information Miami Solar manufactures solar panels for industrial use. The company budgets production of 5,000 units (solar panels) in July and 5,300 units in August. Each unit requires 4 hours of direct labor at a rate of $16 per hour. The company applies variable overhead at the rate of $12 per direct labor hour. Budgeted fixed factory overhead is $180,000 per month. Prepare a factory overhead budget for August. MIAMI SOLAR Factory Overhead Budget Direct labor hours needed Variable overhead rate per direct labor hour Budgeted variable overhead Budgeted fixed overhead Budgeted total factory overhead August $ 0

Lean Accounting Westgate Inc. uses a lean manufacturing strategy to manufacture DVR (digital video recorder) players. The company manufactures DVR players through a single product cell. The budgeted conversion cost for the year is $719,400 for 2,180 production hours. Each unit requires 10 minutes of cell process time. During March, 830 DVR players were manufactured in the cell. The materials cost per unit is $73. The following summary transactions took place during March: Materials were purchased for March production. Conversion costs were applied to production. 830 DVR players were assembled and placed in finished goods. 790 DVR players were sold for $227 per unit. a.  Determine the budgeted cell conversion cost per hour. If required, round to the nearest dollar.$fill in the blank 306481020facfbc_1 per hour b.  Determine the budgeted cell conversion cost per unit. If required, round to the nearest dollar.$fill in the blank 306481020facfbc_2 per unit c.  Journalize…

A company makes wine glasses for which the following standards have Standard Price Expected Per Unit of Input $2 per ounce $8 per hour Production of 400 glasses was expected in July, but 440 were actually made. Direct materials purchased and used were 2,100 ounces at an actual price of $2.30 per ounce. Direct labor cost for the month was $5,310, and the actual pay per hour was $9.00. been developed: Direct Materials Direct Labor Standard Inputs Expected For Each Unit of Output 5 ounces 1.5 hours Calculate: a) The direct materials variances b) The direct labor variances

McAlisters Bottle Company manufactures plastic two-liter bottles for the beverage industry. The cost standards per 100 two-liter bottles are as follows: Cost Category Standard Costper 100 Two-LiterBottles Direct labor   $2.75       Direct materials   1.20       Factory overhead   0.35         Total   $4.30       At the beginning of May, McAlisters Bottle's management planned to produce 800,000 bottles. The actual number of bottles produced for May was 750,000 bottles. The actual costs for May of the current year were as follows: Cost Category Actual Cost for theMonth Ended May 31 Direct labor         $21,100         Direct materials         9,200         Factory overhead         2,700           Total         $33,000         a.  Prepare the May manufacturing standard cost budget (direct labor, direct materials, and factory overhead) for McAlisters Bottle Company, assuming planned production. Enter all amounts as positive numbers. McAlisters Bottle…

Donner Racket Company manufactures two types of tennis rackets, the Junior and Pro Striker models. The production budget for March for the two rackets is as follows:   Junior Pro Striker Production budget 18,000 units 10,000 units Both rackets are produced in two departments, Forming and Assembly. The direct labor hours required for each racket are estimated as follows:   Forming Department Assembly Department Junior 0.20 hour per unit      0.60 hour per unit       Pro Striker 0.35 hour per unit      0.75 hour per unit       The direct labor rate for each department is as follows: Forming Department $21 per hour Assembly Department $16 per hour Prepare the direct labor cost budget for March. Enter all amounts as positive numbers. DONNER RACKET COMPANY Direct Labor Cost Budget For the Month Ending March 31   Forming Department Assembly Department Hours required for production:     Junior     Pro Striker     Total     Hourly rate $ $…

Single Plantwide Factory Overhead Rate The total factory overhead for Bardot Marine Company is budgeted for the year at $1,518,000. Bardot Marine manufactures two types of boats: speedboats and bass boats. The speedboat and bass boat each require three direct labor hours for manufacture. Each product is budgeted for 11,500 units of production for the year. When required, round all per unit answers to the nearest cent. a. Determine the total number of budgeted direct labor hours for the year. direct labor hours b. Determine the single plantwide factory overhead rate. per dlh c. Determine the factory overhead allocated per unit for each product using the single plantwide factory overhead rate. Speedboat per unit Bass boat per unit

John’s Surfboards manufactures fibreglass surfboards.  The standard cost of direct materials and direct manufacturing labour is $100 per board.  This includes 20 kg of direct materials, at the budgeted price of $2 per kilogram, and 5 hours of direct manufacturing labour, at the budgeted rate of $12 per hour.  Following are additional data for the month of July: Units completed 6,000 units Direct material purchases 150,000 kilograms Cost of direct material purchases $292,500 Actual direct manufacturing labour-hours 32,000 hours Actual direct labour cost $368,000 Direct material efficiency variance $12,500 U There were no beginning inventories. Required: Compute direct manufacturing labour variances for July.  Compute the actual kilograms of direct materials used in production in July. Calculate the actual price per kilogram of direct material purchased. Calculate the direct materials price variance.

Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,200 units (solar panels) in July and 4,600 units in August.   Each unit requires 5 hours of direct labor at a rate of $15 per hour. Prepare a direct labor budget for July.           MIAMI SOLAR Direct Labor Budget For Month Ended July 31 Budgeted production 4,200     Total labor hours needed       Budgeted cost of direct labor

A manufactured product has the following information for June.    Standard Quantity and Cost Actual Results Direct materials 6 pounds @ $8 per pound 45,500 pounds @ $8.20 per pound Direct labor 2 DLH @ $15 per DLH 14,600 hours @ $15.60 per hour Overhead 2 DLH @ $12 per DLH $ 186,100   Units manufactured   7,500 units   (1) Prepare the standard cost card showing standard cost per unit.(2) Compute total budgeted cost for June production.(3) Compute total actual cost for June production.(4) Compute total cost variance for June.