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Please complete the following exercises and/or problems from the textbook: E23-16 E23-19 E23-20 CP23-36 Prepare your answers in an Excel workbook, using one worksheet per exercise or problem.

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E23-16 Preparing a flexible budget performance report;Stenback Pro Company managers received the following incomplete performance;report;STENBACK PRO COMPANY;Flexible Budget Performance Report;For the Year Ended July 31, 2014;Actual flex budget variance Flex budget salesvolume Static Budget;units: 39000 39000 3000;sales revenue 218000 218000 27000;variable c 84000 81000 10000;contribution margin 134000 137000 17000;fixed expense 108000 101000 0;opening income 26000 36000 17000;E23-19 Calculating materials and labor variances;Great Fender, which uses a standard cost accounting system, manufactured 20,000;boat fenders during 2014, using 144,000 square feet of extruded vinyl purchased at;$1.05 per square foot. Production required 420 direct labor hours that cost $13.50;per hour. The direct materials standard was 7 square feet of vinyl per fender, at a;standard cost of $1.10 per square foot. The labor standard was 0.025 direct labor;hour per fender, at a standard cost of $12.50 per hour.;Compute the cost and efficiency variances for direct materials and direct labor.;trade-offs? Explain;E23-20 Computing overhead variances;Review the data from Great Fender given in Exercise E23-19. Consider the;following additional information;Static budget variable overhead $ 5,500;Static budget fixed overhead $ 22,000;Static budget direct labor hours 550 hours;Static budget number of units 22,000 units;Great Fender allocates manufacturing overhead to production based on standard;direct labor hours. Great Fender reported the following actual results for 2014;actual variable overhead, $4,950, actual fixed overhead, $23,000.;Requirements;1. Compute the overhead variances for the year: variable overhead cost variance;variable overhead efficiency variance, fixed overhead cost variance, and fixed;overhead volume variance.;2. Explain why the variances are favorable or unfavorable.;P23-36 Calculating materials and labor variances and preparing journal entries;This continues the situation from Problem P22-56 of Chapter 22.;direct materials include 14 software packages at a cost of $900 per package.;on completing 12 jobs during March 2013.;Actual direct materials costs for March included 90 software packages at a total cost;of $81,450. Actual direct labor costs included 100 hours per job at an average rate;Requirements;1. Calculate direct materials cost and efficiency variances.;2. Calculate direct labor cost and efficiency variances.;3. Prepare journal entries to record the use of both materials and labor for March;for the company

 

Paper#77555 | Written in 18-Jul-2015

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