Yordi Company expects to sell 1,950 units in January and 1,700 units in February. The company expects to incur the following product costs: (Click the icon to view the product costs.) The beginning balance in Finished Goods Inventory is 180 units at $63 each for a total of $11,340. Yordi uses FIFO inventory costing method. Prepare the cost of goods sold budget for Yordi for January and February. (Abbreviations used: VOH = variable manufacturing overhead; FOH = fixed manufacturing overhead.) Yordi Company Cost of Goods Sold Budget Two Months Ended January 31 and February 28 January Units produced and sold in each month Total budgeted cost of ods sold February Data table Direct materials cost per unit Direct labor cost per unit Manufacturing overhead cost per unit Print Done S 35 16 12 X

Yordi Company expects to sell 1,950 units in January and 1,700 units in February. The company expects to incur the following product costs: (Click the icon to view the product costs.) The beginning balance in Finished Goods Inventory is 180 units at $63 each for a total of $11,340. Yordi uses FIFO inventory costing method. Prepare the cost of goods sold budget for Yordi for January and February. (Abbreviations used: VOH = variable manufacturing overhead; FOH = fixed manufacturing overhead.) Yordi Company Cost of Goods Sold Budget Two Months Ended January 31 and February 28 January Units produced and sold in each month Total budgeted cost of ods sold February Data table Direct materials cost per unit Direct labor cost per unit Manufacturing overhead cost per unit Print Done S 35 16 12 X

Name: Yordi Company expects to sell 1,950 units in January and 1,700 units
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Description: Yordi Company expects to sell 1,950 units in January and 1,700 units in February. The company expects to incur the following product costs:(Click the icon to view the product costs.)The beginning balance in Finished Goods Inventory is 180 units at $

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 5EB: Smith Industries uses a cost system that carries direct materials inventory at a standard cost. The...

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Smith Industries uses a cost system that carries direct materials inventory at a standard cost. The controller has established these standards for the cost of one basket (unit): Smith Industries made 3,000 baskets in July and used 15,500 pounds of material to make these units. Smith Industries paid $39,370 for the 15,500 pounds of material. A. What was the direct materials price variance for July? B. What was the direct materials quantity variance for July? C. What is the total direct materials cost variance? D. If Smith Industries used 15,750 pounds to make the baskets, what would be the direct materials quantity variance?
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Required information SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below.) Shadee Corp. expects to sell 570 sun visors in May and 430 in June. Each visor seils for $19. Shadee's beginning and ending finished goods inventories for May are 90 and 45 units, respectively. Ending finished goods Inventory for June will be 60 units. E8-8 (Algo) Preparing Cost of Goods Sold Budget (LO 8-31) Each visor requires a total of $4.50 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $2.00 each. Shadee wants to have 32 closures on hand on May 1, 22 closures on May 31, and 24 closures on June 30 and variable manufacturing overhead is $2.25 per unit produced. Suppose that each visor takes 0.30 direct labor hours to produce and Shadee pays its workers $9 per hour. Required: 1. Determine Shadee's budgeted manufacturing cost per visor. (Note: Assume that fixed overhead per unit is $3.) 2. Compute the…