Need by Sat the 19th.
Peaceful Corporation manufactures figurines based on the following information.
|Fixed overhead budget||$19,000|
|Actual results and costs|
|Materials used in production|
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- Prepare a performance report for Peaceful using the following headings.
- Actual Production Costs
- Flexible Budget Costs
- Flexible Budget Variances
- Compute the following variances (show calculations).
- Materials usage variance
- Labor rate variance
- Labor efficiency variance
- Variable overhead spending variance
- Variable overhead efficiency variance
- Fixed overhead budget variance
- Give one possible explanation for each of the six variances computed in part b.
The following is the current variable costing income statement for Dolly Corporation.
|Sales (5,000 units)||$100,000|
|Variable expenses Cost of goods sold||$35,000|
|Selling (10% of sales)||$10,000||$45,000|
Below is the following information on operations for Dolly Corporation.
|Beginning inventory (units)||0|
|Units produced (units)||6,000|
|Direct labor (per unit)||$5.00|
|Direct materials (per unit)||$2.30|
|Variable overhead (per unit)||$2.40|
Prepare an absorption costing income statement.
The following information was compiled for two models of cell phones.
|3G model||4G model||Average|
|Budgeted Contribution Margin||$80.00||$120.00||$95.25|
|Budgeted Sales in Units||28,000||18,000|
|Actual Sales in Units||28,600||16,500|
Calculate the sales mix variance. (Show your calculations.)