Answer
Actual DATA for |
160000 |
units |
|
Quantity (AQ) |
Rate (AR) |
Actual Cost |
|
Direct Material |
288200 |
$ 1.90 |
$ 547,580.00 |
Direct labor |
205000 |
$ 17.50 |
$ 3,587,500.00 |
Variable Overhead |
205000 |
$ 1.51 |
$ 310,000.00 |
Standard DATA for |
160000 |
units |
|
Quantity (SQ) |
Rate (SR) |
Standard Cost |
|
[A] |
[B] |
[A x B] |
|
Direct Material |
( 1.7 lbs x 160000 units)=272000 lbs |
$ 1.80 |
$ 489,600.00 |
Direct labor |
( 1.7 hours x 160000 units)=272000 hours |
$ 13.00 |
$ 3,536,000.00 |
Variable Overhead |
( 1.7 hours x 160000 units)=272000 hours |
$ 1.40 |
$ 380,800.00 |
Material Price Variance |
||||||
( |
Standard Rate |
- |
Actual Rate |
) |
x |
Actual Quantity |
( |
$ 1.80 |
- |
$ 1.90 |
) |
x |
288200 |
-28820 |
||||||
Variance |
$ 28,820.00 |
Unfavourable-U |
||||
Material Quantity Variance |
||||||
( |
Standard Quantity |
- |
Actual Quantity |
) |
x |
Standard Rate |
( |
272000 |
- |
288200 |
) |
x |
$ 1.80 |
-29160 |
||||||
Variance |
$ 29,160.00 |
Unfavourable-U |
||||
Material Spending Variance |
||||||
( |
Standard Cost |
- |
Actual Cost |
) |
||
( |
$ 489,600.00 |
- |
$ 547,580.00 |
) |
||
-57980 |
||||||
Variance |
$ 57,980.00 |
Unfavourable-U |
Labor Rate Variance |
||||||
( |
Standard Rate |
- |
Actual Rate |
) |
x |
Actual Labor Hours |
( |
$ 13.00 |
- |
$ 17.50 |
) |
x |
205000 |
-922500 |
||||||
Variance |
$ 922,500.00 |
Unfavourable-U |
||||
Labour Efficiency Variance |
||||||
( |
Standard Hours |
- |
Actual Hours |
) |
x |
Standard Rate |
( |
272000 |
- |
205000 |
) |
x |
$ 13.00 |
871000 |
||||||
Variance |
$ 871,000.00 |
Favourable-F |
||||
Labor Spending Variance |
||||||
( |
Standard Cost |
- |
Actual Cost |
) |
||
( |
$ 3,536,000.00 |
- |
$ 3,587,500.00 |
) |
||
-51500 |
||||||
Variance |
$ 51,500.00 |
Unfavourable-U |
Variable Overhead Rate Variance |
||||||
( |
Standard Rate |
- |
Actual Rate |
) |
x |
Actual Labor Hours |
( |
$ 1.40 |
- |
$ 1.51 |
) |
x |
205000 |
-23000 |
||||||
Variance |
$ 23,000.00 |
Unfavourable-U |
||||
Variable Overhead Efficiency Variance |
||||||
( |
Standard Hours |
- |
Actual Hours |
) |
x |
Standard Rate |
( |
272000 |
- |
205000 |
) |
x |
$ 1.40 |
93800 |
||||||
Variance |
$ 93,800.00 |
Favourable-F |
||||
Variable Overhead Spending Variance |
||||||
( |
Standard Cost |
- |
Actual Cost |
) |
||
( |
$ 380,800.00 |
- |
$ 310,000.00 |
) |
||
70800 |
||||||
Variance |
$ 70,800.00 |
Favourable-F |
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (clay)...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead (5356.500.00 - 155,000.00 units) Standard Quantity 1.70 lbs. 1.70 hrs. 1.70 hrs. Standard Price (Rate) $ 1.80 per lb. $13.00 per hr. $ 1.40 per hr. Standard Unit Cost $ 3.06 22.10 2.38 2.30 Barley Hopp had the following actual results last year: Number of units produced and sold Number of...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($425,500.00 + 185,000.00 units) Standard Quantity 1.70 lbs. 1.70 hrs. 1.70 hrs. Standard Price (Rate) $ 1.80 per lb. $12.00 per hr. $ 1.10 per hr. Standard Unit Cost $ 3.06 20.40 1.87 2.30 Barley Hopp had the following actual results last year: Number of units produced and sold Number of...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($273,000.00 = 105,000.00 units) Standard Quantity 1.60 lbs. 1.60 hrs. 1.60 hrs. Standard Price (Rate) $ 1.70 per lb. $ 10.00 per hr. $ 1.10 per hr. Standard Unit Cost $ 2.72 16.00 1.76 2.60 Barley Hopp had the following actual results last year: Number of units produced and sold Number...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($396,000.00 - 180,000.00 units) Standard Quantity 1.80 lbs. 1.80 hrs. 1.80 hrs. Standard Price (Rate) $ 1.90 per Ib. $11.00 per hr. $ 1.10 per hr. Standard Unit Cost $ 3.42 19.80 1.98 2.20 Barley Hopp had the following actual results last year: Number of units produced and sold Number of...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($520,000.00 - 200,000.00 units) Standard Quantity 1.90 lbs. 1.90 hrs. 1.90 hrs. Standard Price (Rate) $ 2.00 per lb. $15.00 per hr. $ 1.20 per hr. Standard Unit Cost $ 3.80 28.50 2.28 2.60 Barley Hopp had the following actual results last year: Number of units produced and sold Number of...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($275,000.00 + 110,000.00 units) Standard Quantity 1.60 lbs. 1.60 hrs. 1.60 hrs. Standard Price (Rate) $ 1.70 per lb. $11.00 per hr. $ 1.10 per hr. Standard Unit Cost $ 2.72 17.60 1.76 2.50 Barley Hopp had the following actual results last year: Number of units produced and sold Number of...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows. Direct materials (clay) Standard Quantity 1.70 lbs. Standard Standard Price (Rate) Unit Cost $ 1.89 $ 3.86 1.70 hrs. $ 10.00 per hr. 17.00 Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($346,500.00 + 165,000.00 units) per 1.70 hrs. $ 1.40 hr. 2.38 2.10 Barley Hopp had the following actual results last year Number of units produced and sold 170,000 Number of...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Standard Price Standard Quantity 1.60 lbs. (Rate) $ 1.70 per lb. $16.00 per hr. Unit Cost Direct materials (clay) 2.72 Direct labor 1,60 hrs. 25.60 Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($364,500.00 135,000.00 units) 1.20 per hr 1.60 hrs 1.92 2,70 Barley Hopp had the following actual results last year: Number of units produced and sold Number of pounds of clay...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Quantity 1.70 lbs 1.70 hrs. Standard Price (Rate) $ 1.8e per lb. $10.00 per hr. Standard Unit Cost $ 3.06 17.00 Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($346,500.00 165,808.88 units) 1.70 hrs. $ 1.40 per hr. 2.38 2.10 Barley Hopp had the following actual results last year: Number of units produced and sold Number of pounds...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Quantity 1.60 lbs. Standard Unit Cost $ 2.72 Standard Price (Rate) $ 1.70 per lb. $10.00 per hr. 1.10 per hr. Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($273,000.00 105,000.00 units) 1.60 hrs 1,60 hrs 16.00 1.76 2.60 Barley Hopp had the following actual results last year: Number of units produced and sold Number of pounds of...