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Save Homework: Chapter 23 Homework Score: 0 of 4 pts P23-29A (book/static) 6 of 6 2 completo) HW Score: 20%. 4 of 20 pts Question Help Moss manufactures comugs that it sells to other companies for customizing with their own logo Click the icon to view the cost data) Actual cost and production information for July 2018 follows: Click the icon to view adual cost and production information) Moss's standard and actual sales price per mug is $3. Moss called the following variances and recorded the following is for July 2018 I click the bon to view variances) Click the con to view journal entries) Prepare the standard costing income statement for July 2018. (Usession or protesto any contra express and an operating loss. Enter the amounts as pombers Moss Standard Cost Income Statement For the Month Ended July 31. 2018 Choose from any it or enter any number in the input fields and then click Check Answer All parts showing Clear A Check Answer Homework: Chapter 23 Homework 6 of 6 (2 complete) Score: 0 of 4 pts P23-29A (book/static) Moss manufactures coffee mugs that it sells to other companies for customizing with their own logos Click the icon to view the cost data) Actual cost and production information for July 2018 follows: (Click the icon to view actual cost and production information) Moss's standard and actual sales price per mug is $3 Moss calculated (Click the loo (Click the ico Prepare the stand any contra expen Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All Type here to search Hon 6 of 6 (2 complete) Score: 0 of 4 pts P23-29A (book/static) Moss calculated the 1 Click the loon | Click the loon Moss manufactures coffee mugs that it sells to other companies for customizing with their own logos Click the icon to view the cost data) Actual cost and production information for July 2018 follows: Click the icon to view actual cost and production information Moss's standard and actual sales price per mug is $3 Prepare the standar any contra expenses Gross Proth Operating Income (Loss) Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All Type here to search F % 5 3 6 W E R. 6 of 6 (2 completo) borded the Data Table - X 13 follow on inform for July 2013 Entor all other Moss prepares flexible budgets and uses a standard cost system to control manufacturing costs. The standard unit cost of a coffee mug is based on static budget volume of 59,800 coffee mugs per month Direct Materials (02 $ 0.25 por lb) S 0.05 Direct Labor (3 minutes $0.11 por minuto) 0.33 Manufacturing Overhead Variable (3 minutes $0.06 por minuto) Fixed 3 minutes 5 0.13 por minuto) 0.39 0.57 Total Cost per Coffee Mug S 0.95 0.18 Print Done Clear All g 6 7 6 of 6 (2 complete) anies for customizing with their own logos. VS mation) Moss calculated the following variances and recorded the folle (Click the icon to view variances.) (Click the icon to view journal entries.) Prepare the standard costing income statement for July 2018, Sater all other a More Info Ca. There were no beginning or ending inventory balances. All expenditures were on account b. Actual production and sales were 62,500 coffee mugs. C. Actual direct materials usage was 11,000 lbs, at an actual cost of $0.17 per lb. d. Actual direct labor usage was 197,000 minutes at a total cost of $25,610, Actual overhead cost was $10,835 variable and $29,765 fixed. f. Selling and administrative costs were $95.000 Print Done Clear All F10 or customizing with their own logos, Moss calculated the following variances and recorded the following (Click the icon to view variances.) (Click the icon to view journal entries.) Prepare the standard costing income statement for July 2018. (Use loss. Enter all other amour X Reference . Variance = $ Direct materials cost variance Direct labor cost variance 880 F ES 3,940U Variance Direct materials officiency variance Direct labor efficiency variance = S 375 F = $ 1.045 U Variance S ids and the VOH cost variance VOH efficiency variance 985 F 570 U $ Variance F10 & 8 10 wa 9 a acordeon (Click the icon to view variances) (Click the icon to view journal entries.) lows formation Prepare the standard costing income statement for July 2 men Gallo Reference Date Debit Credit Jul 2.750 880 1,870 Accounts and Explanation Raw Materials Inventory Direct Materials Cost Variance Accounts Payable Purchased direct materials Work-in-Process Inventory Direct Materials Efficiency Variance Raw Materials Inventory Used direct materials Makineler Jul 3,125 375 inp 2.750 20.025 o . F10 F11 % 5 & 7 6 B 9 R. Y mpanies for customizing with their own logos, WS formation.) Moss calculated the following variances and recorded the follow (Click the icon to view variances.) (Click the icon to view journal entries.) Prepare the standard costing income statement for July 2018.( other am Reference -X 3.940 1.045 610 Jul 40,600 Direct Labor Cost Variance Direct Labor Efficiency Variance Wages Payable Direct labor costs incurred Manufacturing Overhead Various Accounts Manufacturing overhead costs incurred. Work-in-Process Inventory Manufacturing Overhead Manufacturing overhead costs allocated. 40,600 JU 35,625 35,625 o g - E FO F10 & 7 5 6 8 R P 6 of 6 (2 completo) companies for customizing with their own logos follows: in information 3 Moss calculated the following variances and recorded the following en (Click the icon to view variances.) (Click the icon to view journal entries.) Prepare the standard costing income statement for July 2018. (Uso a other amounts -X Reference 40,600 40,600 35,625 35,625 Manufactung Overhead Various Accounts Manufacturing overhead costs incurred. Work-in-Process Inventory Manufacturing Overhead Manufacturing overhead costs allocated, Finished Goods Inventory Work in Process Inventory Completed goods transferred. Variable Overhead Efficiency Variance 59,375 59,375 e inpu 570 II O F10 & 7 6 8 9 0 IR (Click the icon to view journal entries.) OWS nformation Prepare the standard costing income statement for July 201 oth -X Reference Jul 35,625 35,625 Jul 59,375 59,375 Work-in-Process Inventory Manufacturing Overhead Manufacturing overhead costs allocated Finished Goods Inventory Work-in-Process Inventory Completed goods transferred. Variable Overhead Efficiency Variance Fixed Overhead Cost Variance Variable Overhead Cost Varianco Fixed Overhead Volume Variance Jul 570 6.443 inpu 985 1.053 FO FI % & 7 6 8 9 R. T Y

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