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-hour)Fixed overhead (per month)Expected activity (direct labor-hours)Actual resultsDirect material (purchased and used)Direct laborVariable overheadFixed overheadUnits produced (actual)Direct materialsDirect laborVariable overheadFixed overheadPrice VarianceK4K40.75 pounds at $8.60 per pound1.25 hours at $26.60 per hourEfficiency Variance$ 21.80$ 417,12017,380Required: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" forfavorable, or "U" for unfavorable. If there is no effect, do not select either option.10,600 pounds at $8.00 per pound14,830 hours at $26.90 per hour$ 343,060$ 389,74012,260 unitsProduction VolumeVariancePrice VarianceX71 pound at $9.20 per pound1.50 hours at $30 per hour$ 23.60$ 494,13023,530X714,230 pounds at $9.50 per pound22,330 hours at $33.20 per hour$ 467,212$ 491,32014,530 unitsEfficiency VarianceProduction VoruineVariance

Name: 77777 kItncesRobinwood Fixtures manufactures two products, K4 and X7.
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
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-