signer buogeted nber of suitS budgeted direct manufacturing labor-hours per suit. Data pertaining to fixed manufacturing overhead costs for June 2017 are budgeted, $45,36 ending inventories of suits. Requirements 1. Compute the spending variance for fixed manufacturing overhead. Comment on the results. 2. Compute the production-volume variance for June 2017. What inferences can Grand Clothing draw from this variance?

Arsons company is planning to produce 2,100 units of product in 2017. Each unit requires 1.60 pounds of materials at $6.40 per pound and a half-hour of labor at $16.00 per hour. The overhead rate is 60% of direct labor. Required A. Compute the budgeted amounts for 2017 for direct materials to be used, direct labor, and applied overhead. B. Compute the standard cost of one unit of production (round answer to 2 decimal places).

Esquire Clothing is a manufacturer of designer suits For June 2020, each suit is budgeted to take 3 labor-hours. The budgeted number of suits to be manufactured in June 2020 is 1,120, Esquire Clothing allocates fixed manufacturing overhead to each suit using budgeted direct manufacturing labor-hours per suit. Data pertaining to fixed manufacturing overhead costs for June 2020 are budgeted, $57,120, and actual, $63,900. In June 2020 there were 1,140 suits started and completed. There were no beginning or ending inventories of suits Requirements 1. Compute the spending variance for fixed manufacturing overhead. Comment on the results. 2. Compute the production-volume variance for June 2020. What inferences can Esquire Clothing draw from this variance? + Requirement 1. Compute the spending variance for fixed manufacturing overhead. Comment on the results Begin by computing the following amounts for the fixed manufacturing overhead Actual Costs Incurred Same Budgeted Lump Sum Regardless of…

Esquire Clothing is a manufacturer of d esigner suits. The cost of each suit is the sum of three variable costs (direct material costs, direct manufacturing labor costs, and manufacturing overhead costs) and one fixed-cost category (manufacturing overhead costs). Variable manufacturing overhead cost is allocated to each suit on the basis of budgeted direct manufacturing labor-hours per suit. For June 2017, each suit is budgeted to take 4 labor-hours. Budgeted variable manufacturing overhead cost per labor-hour is $12. The budgeted number of suits to be manufactured in June 2017 is 1,040. Actual variable manufacturing costs in June 2017 were $52,164 for 1,080 suits started and completed. There were no beginning or ending inventories of suits. Actual direct manufacturing labor-hours for June were 4,536. Q1. Compute the flexible-budget variance, the spending variance, and the efficiency variance for variable manufacturing overhead. Q2. Comment on the results.

Magnify Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. It expects to manufacture 22,000 Knox lamps and 7,000 Ayer lamps in 2017. The following data are available for the year 2017. E (Click the icon to view the data.) E (Click the icon to view the December 31, 2017 production budget in units.) Calculate (a) the direct materials usage budget in quantity and dollars (label it Schedule 3A); (b) the direct materials purchase budget in quantity and dollars (label it Schedule 3B); and (c) the direct manufacturing labour costs budget (label it Schedule for the year ending December 31, 2017. (a) Begin by calculating the direct materials usage budget in quantity and then in dollars (label it Schedule 3A) for the year ending December 31, 2017. Schedule 3A: Direct Material Usage Budget in Quantity and Dollars Data for the Year Ending December 31, 2017 Production budget in units Material Direct materials Metal Fabric Total Schedule 2: Production Budget (in Units)…

The Schuyler Corporation manufactures lamps. It has set up the following standards per finished unit for direct materials and direct manufacturing labor: Direct materials: 10 lb. at $4.50 per lb. $45.00 Direct manufacturing labor: 0.5 hour at $30 per hour 15.00 The number of finished units budgeted for January 2017 was 10,000; 9,850 units were actually produced. Actual results in January 2017 were as follows: Direct materials: 98,055 lb. used Direct manufacturing labor: 4,900 hours $154,350 Assume that there was no beginning inventory of either direct materials or finished units. During the month, materials purchased amounted to 100,000 lb., at a total cost of $465,000. Input price variances are isolated upon purchase. Input-efficiency variances are isolated at the time of usage. Q1Why might Schuyler calculate direct materials price variances and direct materials efficiency variances with reference to different points in time?

The Schuyler Corporation manufactures lamps. It has set up the following standards per finished unit for direct materials and direct manufacturing labor: Direct materials: 10 lb. at $4.50 per lb. $45.00 Direct manufacturing labor: 0.5 hour at $30 per hour 15.00 The number of finished units budgeted for January 2017 was 10,000; 9,850 units were actually produced. Actual results in January 2017 were as follows: Direct materials: 98,055 lb. used Direct manufacturing labor: 4,900 hours $154,350 Assume that there was no beginning inventory of either direct materials or finished units. During the month, materials purchased amounted to 100,000 lb., at a total cost of $465,000. Input price variances are isolated upon purchase. Input-efficiency variances are isolated at the time of usage. Q1Comment on the January 2017 price and efficiency variances of Schuyler Corporation.

The Schuyler Corporation manufactures lamps. It has set up the following standards per finished unit for direct materials and direct manufacturing labor: Direct materials: 10 lb. at $4.50 per lb. $45.00 Direct manufacturing labor: 0.5 hour at $30 per hour 15.00 The number of finished units budgeted for January 2017 was 10,000; 9,850 units were actually produced. Actual results in January 2017 were as follows: Direct materials: 98,055 lb. used Direct manufacturing labor: 4,900 hours $154,350 Assume that there was no beginning inventory of either direct materials or finished units. During the month, materials purchased amounted to 100,000 lb., at a total cost of $465,000. Input price variances are isolated upon purchase. Input-efficiency variances are isolated at the time of usage. Q1.Compute the January 2017 price and efficiency variances of direct materials and direct manufacturing labor. Q2. Prepare journal entries to record the variances in requirement 1.

Ever Clean Company provides gutter cleaning services to residential clients. Overhead is allocated based on direct labor-hours (DLH). The owner, Joanne Clark, estimates that her gutter cleaners will work a total of 1,000 jobs during the year. Each job averages 600 feet of gutter surface and requires 12 direct labor-hours. Clark pays her gutter cleaners $15 per hour. The following table presents the budgeted overhead costs for 2018: Supplies ($6.50 per DLH) Fixed costs (to support capacity of 12,000 DLH) Indirect labor Depreciation Other Total budgeted costs The direct labor budget (in hours) is closest to O A. 12,000 Variable costs O B. 1,000 O C. 180,000 $ 78,000 25,000 17,000 24,000 $144,000

Franklin Inc. manufactures pipes and applies manufacturing overhead costs to production at a budgeted​ indirect-cost rate of​ $15 per direct​ labor-hour. The following data are obtained from the accounting records for June​ 2018:   Direct materials ​$100,000   Direct labor​ (4,000 hours​ @ $10/hour) ​40,000   Indirect labor ​10,000   Plant facility rent ​26,000   Depreciation on plant machinery and equipment ​24,500   Sales commissions ​23,000   Administrative expenses ​31,000     The amount of manufacturing overhead allocated to all jobs during June 2018 totals​ ________.   A. ​$60,500   B. ​$91,500   C. ​$60,000   D. ​$76,000