Provide the entries to record the direct cost variances; Provide the entries to record the...
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Accounting
- Provide the entries to record the direct cost variances;
- Provide the entries to record the incurrence of actual VMOH and FMOH, the allocation of VMOH and FMOH, and the variances for VMOH and FMOH;
- Provide the entry to make an adjustment to CGS
| BUDGETED | ||||
| Direct Materials | 5.00 | lbs. per unit | $30.00 | per lbs. |
| Direct Labor | 2.00 | hours per unit | $25.00 | per hour |
| VMOH | $3,200,000 |
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| FMOH | $5,600,000 |
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| MHRS | 80,000 | MHRS |
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| Production volume | 40,000 | units |
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| Allocation base | MHRS |
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| ACTUAL | ||||
| Direct Materials | 4.50 | lbs. per unit | $32.00 | per lbs. |
| Direct Labor | 2.50 | hours per unit | $22.00 | per hour |
| VMOH | $3,192,000 |
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| FMOH | $5,300,000 |
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| MHRS | 84,000 | MHRS |
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| Production volume | 35,000 | units |
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