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Provide the entries to record the direct cost variances; Provide the entries to record the...

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Question

Accounting

  1. Provide the entries to record the direct cost variances;
  2. 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;
  3. 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

FMOH

$5,600,000

MHRS

80,000

MHRS

Production volume

40,000

units

Allocation base

MHRS

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

FMOH

$5,300,000

MHRS

84,000

MHRS

Production volume

35,000

units

Answer & Explanation Solved by verified expert
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