Sheridan Industries produces a cleaning product that works for the peskiest stains. It's pricey, but less expensive than hiring a professional cleaning service. The managers at Sheridan are conducting variance analysis at the end of January, the first month of the new fiscal year. Budgeted fixed-MOH costs for the year were $2.352.000. The company's standards for one gallon of cleaning solution are as follows, along with actual information for the month. DM DL Variable-MOH Fixed-MOH Actual results for January . . . . . Standard Quantity per Unit 0.5 gallons of solution 0.3 DL hours 2.0 machine hours 2.0 machine hours . Standard Price $18.00 per gallon $16.00 per DL hour $2.40 per machine hour $4.00 per machine hour 24,000 gallons were actually produced. Cost of DM purchased was $249,750 for 13.500 gallons of solution DM used in production was 11.760 gallons Cost of DL was $116,064 for 7,440 DL hours worked. Variable-MOH cost was $118.440 for 50,400 machine hours used. Fixed-MOH cost was $211.680.

Sheridan Industries produces a cleaning product that works for the peskiest stains. It's pricey, but less expensive than hiring a professional cleaning service. The managers at Sheridan are conducting variance analysis at the end of January, the first month of the new fiscal year. Budgeted fixed-MOH costs for the year were $2.352.000. The company's standards for one gallon of cleaning solution are as follows, along with actual information for the month. DM DL Variable-MOH Fixed-MOH Actual results for January . . . . . Standard Quantity per Unit 0.5 gallons of solution 0.3 DL hours 2.0 machine hours 2.0 machine hours . Standard Price $18.00 per gallon $16.00 per DL hour $2.40 per machine hour $4.00 per machine hour 24,000 gallons were actually produced. Cost of DM purchased was $249,750 for 13.500 gallons of solution DM used in production was 11.760 gallons Cost of DL was $116,064 for 7,440 DL hours worked. Variable-MOH cost was $118.440 for 50,400 machine hours used. Fixed-MOH cost was $211.680.

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Description: dont give handwritten answer thanku Sheridan Industries produces a cleaning product that works for the peskiest stains. It's pricey, but less expensive than hiring aprofessional cleaning service. The managers at Sheridan are conducting variance analy

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 4MC: This variance is the difference involving spending more or using more than the standard amount. A....

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