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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 hourStandard direct labor hours per batch = 9 hoursStandard price of material A = $0.25 per poundStandard pounds of material A per batch = 900 poundsStandard price of material B = $0.45 per poundStandard pounds of material B per batch = 300 poundsFixed overhead cost per batch = $500At 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 costs 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.
Required:
a. Calculate variances for material, labor, and overhead.
b. Prepare a summary of the variances. Does the unfavorable overhead volume variance suggest that overhead costs are out of control?
Evaluate the costs of goods transferred out and the ending inventory using the weighted-average method.
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Which company would have higher operating leverage: a software company that makes large investments in research and development, or a manufacturing company that uses expensive materials and relies on highly skilled manual labor rather than automation..
Austin, Inc., produces small scale replicas of vintage automobiles for collectors and museums.
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Tan's designers have determined that adding a different type of material to the existing diect materials would result in no defective units being produced, but it would increase the variable costs by $4 per lamp in the Molding Department.
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