Business Finance Homework Help

please solve the following exercices by 11:30 today. please provide detailed answers with calculations

Basic Exercises

BE 9-1Direct materials variancesObj. 3Bellingham Company produces a product that requires 2.5 standard pounds per unit. The standard price is $3.75 per pound. If 15,000 units used 36,000 pounds, which were purchased at $4.00 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance?

BE 9-2Direct labor variancesObj. 3Bellingham Company produces a product that requires 4 standard direct labor hours per unit at a standard hourly rate of $20 per hour. If 15,000 units used 61,800 hours at an hourly rate of $19.85 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) cost variance?

BE 9-3Factory overhead controllable varianceObj. 4Bellingham Company produced 15,000 units of product that required 4 standard direct labor hours per unit. The standard variable overhead cost per unit is $0.90 per direct labor hour. The actual variable factory overhead was $52,770. Determine the variable factory overhead controllable variance.

BE 9-4Factory overhead volume varianceObj. 4Bellingham Company produced 15,000 units of product that required 4 standard direct labor hours per unit. The standard fixed overhead cost per unit is $1.15 per direct labor hour at 58,000 hours, which is 100% of normal capacity. Determine the fixed factory overhead volume variance.

BE 9-5Standard cost journal entriesObj. 5Bellingham Company produced 15,000 units that require 2.5 standard pounds per unit at a $3.75 standard price per pound. The company actually used 36,000 pounds in production. Journalize the entry to record the standard direct materials used in production.

BE 9-6Income statement with variancesObj. 5Prepare an income statement through gross profit for Bellingham Company for the month ending March 31 using the variance data from Brief Exercises 1, 2, 3, and 4. Assume Bellingham sold 15,000 units at $172 per unit.”