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Instruction: Genuine Spice Inc. began operations on January 1 of the current year. The company...

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Accounting

Instruction: Genuine Spice Inc. began operations on January 1 of the current year. The company produces 8-ounce bottles of hand and body lotion called Eternal Beauty. The lotion is sold wholesale in 12-bottle cases for $100 per case. There is a selling commission of $20 per case. The January direct materials, direct labor, and factory overhead costs are as follows:
- Determine the fixed and variable portions of the utility cost using the high-low method.
-Determine the fixed costs per month, including the utility fixed cost.
-Deteemine the break-even number if cases oer month. _ Cases.
-Prepare the august production budget.
-prepare the august direct materials purchases budget.
-Prepare The august direct labor budget.
-Prepare the August factory overhead budget
-Prepare the August budgeted income statemnt, including selling expenses.
-Determine and interpret materials proce and quantity variances for three materials.
-Determine and interpret the direct labor rate abd tine variances for the two departments.
-Determine and interpret the factory iverhead contrillable variance.
-Determine and interpret the factory overhead volume variance.
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