Marigold Corp. supplies its customers with high-quality canvas tents. These canvas tents sell for $170 each, with the following DMand DL usage and price expectations.Direct materials9 square yards per unit@ $5/square yardDirect labor1.4 DL hours per unit@ $18/DL hourVariable-MOHFixed-MOH1.4 DL hours per unit1.4 DL hours per unit@ $2.80/DL hour@ $4/DL hourThroughout the year, Marigold used 4,795 DL hours in the process of making 3,500 tents. The company had originally planned toproduce and sell 3,250 tents with budgeted fixed-MOH cost of $18,200. Its actual fixed-MOH costs amounted to $17,406 for theyear.(a)Determine Marigold's fixed-MOH price and volume variances. Also identify whether the company's fixed-MOH costs wereunder-or overapplied, and by how much.Fixed-MOH price variance$Fixed-MOH volume varianceFixed-MOH+A$$

Variance arises when the actual costs differ from the standard costs. The results are favorable…

Answered: Marigold Corp. supplies its customers…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Current Attempt in Progress Tamarisk Corp. supplies its customers with high-quality canvas tents. These canvas tents sell for $170 each, with the following DM and DL usage and price expectations. Direct materials 9 square yards per unit @ $6/square yard Direct labor 1 DL hours per unit $17/DL hour Variable-MOH 1 DL hours per unit @ $3.00/DL hour Throughout the year, Tamarisk used 2,880 DL hours in the process of making 3,000 tents. The company had originally planned to produce and sell 2,800 tents. Its actual variable-MOH costs totaled $8,784 for the year. (a) Your answer has been saved. See score details after the due date. Determine Tamarisk's variable-MOH price and efficiency variances. Also identify whether the company's variable-MOH costs were under- or overapplied, and by how much. Variable-MOH price variance 144 Unfavorable Variable-MOH efficiency variance $ 240 Unfavorable Variable-MOH (b) eTextbook and Media List of Accounts $ 3841 Under-applied Attempts: 1 of 1 used Record…
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Vandenberg, Inc., produces and sells two products: a ceiling fan and a table fan. Vandenberg plans to sell 40,000 ceiling fans and 70,000 table fans in the coming year. Product price and cost information includes: Ceiling Fan Table Fan Price $56 $17 Unit variable cost $13 $8 Direct fixed cost $21,200 $43,000 Common fixed selling and administrative expenses total $98,000. Required: 1. What is the sales mix estimated for next year (calculated to the lowest whole number for each product)?Sales mix of ceiling fans to table fans = ______ : _____ 2. Using the sales mix from Requirement 1, form a package of ceiling fans and table fans. How many ceiling fans and table fans are sold at break-even? Round your intermediate calculations and final answers to the nearest whole number. Break-even ceiling fans ______ Break-even table fans ______ 3. Prepare a contribution-margin-based income statement for Vandenberg, Inc., based on the unit sales calculated in Requirement 2. If…
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