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Comprehensive Variance Problem [LO 2,3,4] Bowser Products operates a small plant in New Mexico that produces dog food in batches of 1,200 pounds. The product sells for $4 per pound. Standard costs for 2012 are: Standard direct labor cost = $16 per hour Standard direct labor hours per batch = 9 hours Standard price of material A = $0.25 per pound Standard pounds of material A per batch = 900 pounds Standard price of material B = $0.45 per pound Standard pounds of material B per batch = 300 pounds Fixed overhead cost per batch = $500 At the start of 2012, the company estimated monthly production and sales of 50 batches. The company estimated that all overhead costs were fixed and amounted to $25,000 per month. During the month of June 2012 (typically a somewhat slow month), 40 batches were produced (not an unusual level of production for June). The following cost were incurred: Direct labor costs were $6,800 for 400 hours. 36,500 pounds of material A costing $7,300 were purchased and used. 12,000 pounds of material B costing $5,520 were purchased and used. Fixed overhead of $24,400 was incurred.
a. Calculate variances for material, labor, and overhead. b. Prepare a summary of the variances. Does the unfavorable overhead volume variance suggest that overhead cost are out of control?
Calculation of payment made to vendors and Compute the following (and show your work to earn partial credit in the event your responses are incorrect):
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Calculate operating income if sales volume increases by 20% and Determine the amount of revenue required for Edwards to break even
outgrown her father's accountant and requires having new ideas to help her save tax dollars so she will reinvest more money in the business. prepare and expects to add six more locations in each of the next two years.
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