Robinwood Fixtures manufactures two products, K4 and X7. The company prepares its master budget on the basis of standard costs. The following data are for September. Standards Direct materials Direct labor Variable overhead (per direct labor-hour) Fixed overhead (per month) Expected activity (direct labor-hours) Actual results Direct material (purchased and used) Direct labor Variable overhead Fixed overhead Units produced (actual) K4 0.75 pounds at $8.60 per pound 1.25 hours at $26.60 per hour $ 21.80 $ 417,120 17,380 10,600 pounds at $8.00 per pound 14,830 hours at $26.90 per hour $ 343,060 $ 389,740 12,260 units 1 pound at $9.20 per pound 1.50 hours at $30 per hour $ 23.60 $ 494,130 23,530 14,230 pounds at $9.50 per pound 22,330 hours at $33.20 per hour $ 467,212 $ 491,320 14,530 units Required: a. Prepare a variance analysis for each variable cost for each product. b. Prepare a fixed overhead variance analysis for each product. Note: For all requirements, Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.

Robinwood Fixtures manufactures two products, K4 and X7. The company prepares its master budget on the basis of standard costs. The following data are for September. Standards Direct materials Direct labor Variable overhead (per direct labor-hour) Fixed overhead (per month) Expected activity (direct labor-hours) Actual results Direct material (purchased and used) Direct labor Variable overhead Fixed overhead Units produced (actual) K4 0.75 pounds at $8.60 per pound 1.25 hours at $26.60 per hour $ 21.80 $ 417,120 17,380 10,600 pounds at $8.00 per pound 14,830 hours at $26.90 per hour $ 343,060 $ 389,740 12,260 units 1 pound at $9.20 per pound 1.50 hours at $30 per hour $ 23.60 $ 494,130 23,530 14,230 pounds at $9.50 per pound 22,330 hours at $33.20 per hour $ 467,212 $ 491,320 14,530 units Required: a. Prepare a variance analysis for each variable cost for each product. b. Prepare a fixed overhead variance analysis for each product. Note: For all requirements, Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.

Name: 77777 kItncesRobinwood Fixtures manufactures two products, K4 and X7.
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Description: 77777 kItncesRobinwood Fixtures manufactures two products, K4 and X7. The company prepares its master budget on the basis of standard costs.The following data are for September:StandardsDirect materialsDirect laborVariable overhead (per direct labor-

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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