56,000 liters in June, but actually sold 6,200 liters.Required:Calculate Via Gelato revenue and spending variances for June. (Indicate the effect of each variance by selecting "F" for favorable."U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)Via GelatoRevenue and Spending VariancesFor the Month Ended June 30RevenueExpensesRaw materialsWagesUtilitiesRentInsuranceMiscellaneousTotal expenseNet operating incomeCheck my Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for themonth of June:RevenueRaw materialsWagesUtilitiesRentInsuranceMiscellaneousFixedElementper Month$ 6,300$ 2,330$ 3,300$ 2,050$ 720VariableElement perLiter$ 19.00$5.35$ 2.10$ 0.901.05Via GelatoActualTotal forJune$ 111,530$ 33,830$ 18,900$ 8,100$3,300$ 2,050$6,900While gelato is sold by the cone or cup, the shop measures its activity in terms of the total number of liters of gelato sold. For example.wages should be $6,300 plus $2.10 per liter of gelato sold and the actual wages for June were $18,900, Via Gelato expected to sell6,000 liters in June, but actually sold 6,200 liters.Required:Calculate Via Gelato revenue and spending variances for June. (Indicate the effect of each variance by selecting "F" for favorable,"U" for unfavorable, and "None" for no effect (i.e.. zero variance). Input all amounts as positive values.)Check my ww

The variance is the difference between the standard and actual cost production data. The revenue and…

Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the month of June: Revenue Raw materials Wages Utilities Rent Insurance Miscellaneous Variable Fixed Element Element per per Month Liter $ 19.00 $5.35 $ 2.10 $ 0.90 $ 6,300 $ 2,330 $ 3,300 $ 2,050 $ 720 1.05 Actual Total for June $ 111,530 $ 33,830 $ 18,900 $ 8,100 $ 3,300 $ 2,050 $ 6,900 While gelato is sold by the cone or cup, the shop measures its activity in terms of the total number of liters of gelato sold. For example. wages should be $6,300 plus $2.10 per liter of gelato sold and the actual wages for June were $18,900, Via Gelato expected to sell 6,000 liters in June, but actually sold 6,200 liters. Required: Calculate Via Gelato revenue and spending variances for June. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.)

Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the month of June: Revenue Raw materials Wages Utilities Rent Insurance Miscellaneous Variable Fixed Element Element per per Month Liter $ 19.00 $5.35 $ 2.10 $ 0.90 $ 6,300 $ 2,330 $ 3,300 $ 2,050 $ 720 1.05 Actual Total for June $ 111,530 $ 33,830 $ 18,900 $ 8,100 $ 3,300 $ 2,050 $ 6,900 While gelato is sold by the cone or cup, the shop measures its activity in terms of the total number of liters of gelato sold. For example. wages should be $6,300 plus $2.10 per liter of gelato sold and the actual wages for June were $18,900, Via Gelato expected to sell 6,000 liters in June, but actually sold 6,200 liters. Required: Calculate Via Gelato revenue and spending variances for June. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.)

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter3: Cost Behavior

Section: Chapter Questions

Problem 18E

See similar textbooks

Similar questions

Given the following cost and activity observations for Bounty Company’s utilities, use the high-low method to determine Bounty’s variable utilities cost per machine hour. Round to the nearest cent. Cost Machine Hours March $3,139 14,709 April 2,650 9,989 May 2,817 12,342 June 3,656 17,720 a. $0.74 b. $0.13 c. $1.43 d. $0.78
CLA Inbox - abhireddy726@gmail.com - Gmail Announcements - Accounting for Leaders - 202032 - CRN1... Connect Search All Matches | Chegg.com Midterm Graded Problems i Saved Help Save & Exit Submit Lichtenstein Imports needs to determine the variable utilities rate per machine hour in order to estimate cost for August. Relevant 40 information is as follows. Machine Hours Month Worked Utilities Cost April Мay 5,650 5,200 7,500 9,000 10,060 9,940 11,725 13,400 June July Lichtenstein anticipates producing 6,000 units in August, each unit requiring 2.5 hours of machine time. The company uses the high- low method to analyze costs. Required: A. Calculate the variable and fixed components of the utilities cost. B. Using the data calculated above, estimate the utilities cost for August. For all requirements, round "variable cost per hour" to 2 decimal places and final answers to the nearest dollar amount. A. Variable cost per hour Fixed cost B. Total variable cost Total fixed cost Total…
Tracey Packaged Snax reports the following information for November: Units produced and sold Per unit revenue and costs: Sales revenue Direct materials costs Direct labor costs Variable manufacturing overhead Fixed manufacturing overhead (at 320,000 units) Variable marketing and administrative costs Fixed marketing and administrative costs (at 320,000 units) Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement. Complete this question by entering your ansivers in the tabs below. Required A Required B Prepare a contribution margin income statement. Contribution Margin Income Statement 320,000 $9.60 1.65 0.90 0.80 1.55 0.75 1.15
View Policies Current Attempt in Progress E-Flix rents DVDS that are mailed out to customers upon demand. E-Flix has identified three activities involved in getting the videos to its customers. Information on those activities for the month of July follows: Estimated Expected Use of Cost Drivers Cost Pools Cost Drivers Overhead Cost Order taking costs Number of orders $20,592 187,200 orders Technology support Number of minutes $11,700 234,000 minutes Picking and shipping Number of DVDS $39,624 330,200 DVDS costs During July, the Tucker family placed 17 orders consisting of 21 DVDs. Tucker required 7 minutes of tech support. Customers pay $9.00 per month to rent unlimited DVDS. Using ABC, how much overhead is applied to the Tucker family account for order taking costs? O $4.74 O $2.52 O $1.871 O $6.45 Submit Answer Save for Later Attempts: 0 of 1 used 2:27 PM 10/13/20 e
Current Attempt in Progress Concord rents DVDS that are mailed out to customers upon demand. Concord has identified three activities involved in getting the videos to its customers. Information on those activities for the month of July follows: Estimated Overhead Cost Expected Use of Cost Drivers Cost Pools Cost Drivers Order taking costs $20230 Number of orders 202300 orders Technology support Number of 234700 minutes 11300 minutes Picking and shipping Number of DVDs 36920 330800 DVDS costs During July, the Tucker family placed 18 orders consisting of 23 DVDS. Tucker required 6 minutes of tech support. Customers pay $12 per month to rent unlimited DVDS. Using ABC, how much overhead is applied to the Tucker family account for order taking costs? O $4.10 O $1.80 O $2.30 O $6.40 Attempts: 0 of 1 used Save for Later Submit Answer 9:24 P 10/13/2 hp
A manufacturer uses activity-based costing to assign overhead costs to products. Budgeted cost information for selected activities for next year follows. Activity Purchasing Cleaning factory Providing utilities Activity cost pool Purchasing Factory Expected Cost $127,600 31,500 63,070 Expected Costs Compute activity rates for each of the cost pools. (Round your answers to 2 decimal places.) Expected Amount of Cost Driver Cost Driver Purchase orders Square feet Square feet 4,400 4,900 Activity Overhead Rate Expected Usage of Cost Driver 4,488 purchase orders 4,900 square feet 4,900 square feet per purchase order per square foot
Zachary Company's cost and production data for two recent months included the following: April 1,100 $1,200 $ 978 Production (units) Rent Utilities Required a. Separately calculate the rental cost per unit and the utilities cost per unit for both March and April. b. Identify which cost is variable and which is fixed. March 900 $1,200 $ 800 Complete this question by entering your answers in the tabs below. Required A Required B Separately calculate the rental cost per unit and the utilities cost per unit for both March and April. (Round your answers to 2 decimal places.) Rent cost per unit Utility cost per unit March April
Lising Therapy has a physical therapist who performs electro-mechanical treatments for its patients. During April, Lising had the following cost and output information: Required: 1. Calculate the cost per treatment for April. 2. Calculate the cost of services sold for April. 3. What if Lising found a way to reduce overhead costs by 20 percent? How would this affect the profit per treatment?
A company uses charging rates to allocate service department costs to the using departments. The accountant compiled the following information on one of the service departments: If Department K plans to use 1,350 hours of the service departments service in the coming year, how much of the service departments cost is allocated to Department K? a. 3,375 b. 27,300 c. 26,325 d. 23,950
in Feed | LinkedIn studenthomeworks.... Hours Calculator: S... Compute conversion costs given the following data: direct materials, $347,500; direct labor, $196,300; factory overhead, $187,900; and selling expenses, $45,290. Oa. $384,200 Ob. $731,700 Oc. $187,900 Od. $543,800 Chock M. Marl البال ghmentSessionLocator=&inprogress=false Login to Applicant... 3 BMTX: Card Status South University Disney+ | Movies a... W a O 2 46°F Previous 4x » (? Next ENG 10:09 PM US 3/25/2023
Required information [The following information applies to the questions displayed below.] Odessa, Incorporated, manufactures one model of computer desk. The following data are available regarding units shipped and total shipping costs: Month January February March April May June July Number of Units Total Shipping Shipped 40 45 25 50 55 65 35 Cost $ 2,950 2,800 2,100 3,350 3,300 3,900 2,000 Required: 1. Prepare a scattergraph of Odessa's shipping cost and draw the line you believe best fits the data. Instructions: 1. Click on a point to the right of the graph. 2. Click within the graph to place the point. 3. Enter the exact coordinates in the dialog box that appears to the right of the graph. 4. Click save. 5. To change coordinates already saved, click on a point already placed in the graph, and enter revised coordinates in the dialog box that opens. 6. Use the line tool provided to plota regression line for this data with ending coordinates of (100, 5100). To use the line tool, first…
Consumption Ratios; Activity Rates Dienestar Company produces two types of get-well cards: scented and regular. Drivers for the four activities are as follows: Scented Cards Regular Cards Inspection hours Setup fours Machine hours Inspection hours Setup fours 140 100 Number of moves The following activity data has been collected: Inspecting products Setting up equipment Machining Moving materials Required: 210 235 Rates: 100 20 1. Calculate the commption ratus for the four drivers. Round your answers to two decimal places. Scented Cards Regular Cards 0.42 ✔ 0.17 V 0.74 ✓ pocting produds Setting up equipment Machining Moving material 600 0.50 0.83 ✔ 0.26 ✔ 0.77 ✔ 70 $4,970 4,740 6.320 1,290 Machine hours Number of moves 2. Which of the following statements indicate there is product diversity? Significant variation in the consumption ratios from driver to driver Explain the significance of product diversity for decision-making it the company Chooses to use inachine uus to assign all…