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ID: 2541595 • Letter: N
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n/t signments&takeAssignmentSe; ocator-assignment-take&inprogress; false eBook Show Me How Calculator 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: Standard Cost Cost Category per 100 Two Liter Direct labor Direct materials Factory overhead Bottles $1.18 5.96 0.42 $7.56 Total At the beginning of July, GBC management planned to produce 590,000 bottles. The actual number of bottles produced for July was 637,200 bottles. The actiual costs for July of the current year were as follows: Actual Cost for the Month Ended July 31 Cost Category Direct labor Direct materials Factory overhead $7,369 37,066 2,703 Total 47,13 Enter all amounts as positive numbers a. Prepare the July manufacturing d cost budget (direct labor, direct materials, and factory overhead) for WBc, assuming planned Genie in a Bottle Company Manufacturing Cost Budget Previou Next Check My Work All work saved 211 PMExplanation / Answer
Answer a. Genie in a Bottle Company Manufacturing Cost Budget For the Month Ended Mar 31 Standard Cost at Planned Volume (590,000 Bottles) Manufacturing Costs: Direct Labor $1.18 X 590,000 / 100 6,962.00 Direct Materials - $5.96 X 590,000 / 100 35,164.00 Factory Overhead - $0.42 X 590,000 / 100 2,478.00 Total 44,604.00 Answer b. Genie in a Bottle Company Manufacturing Costs-Budget Performance Report For the Month Ended Mar 31 Actual Costs Standard Cost at Actual Volume (637,200 Bottles) Cost Variance (Fav / Unfav) Manufacturing Costs: Direct Labor 7,369.00 7,518.96 149.96 (F) Direct Materials 37,066.00 37,977.12 911.12 (F) Factory Overhead 2,703.00 2,676.24 26.76 (U) Total Manufacturing Cost 47,138.00 48,172.32 1,034.32 (F)
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