1) Actual unit = 725760/40.32 = 18000 Units
2) Material quantity variance = (Standard qty-actual qty)Standard price
-33600 = (18000*2.4*16.80-16.80X)
16.80X = 759360
X(actual quantity) = 45200 Pounds
3) Material price variance = (Standard price-actual price)actual quantity
13108 = (16.80*45200-45200X)
45200X = 746252
X(actual price) = 16.51
4) Labor efficiency variance = (Standard hour-actual hour)Standard rate
-16000 = (18000*1*16-16X)
16X = 304000
X(actual hour) = 19000 Hour
5) Labor rate variance = (Standard rate-actual rate)actual hour
-3800 = (16*19000-19000X)
19000X = 307800
X(Actual rate) = 16.20
6) Variable overhead efficiency variance = (18000-19000)*9.1 = 9100 U
Actual overhead = 163800-4400+9100 = 168500
please answer the question! Saved Help Case 10-17 Working Backwards from Variance Data (L010-1, LO10-2, LO10-3)...
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Case 10-17 Working Backwards from Variance Data (L010-1, LO10-2, LO10-3) Vitex, Inc. manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system: Inputs Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit (1) Standard Quantity or Hours 2.00 pounds 1.00 hours 1.00 hours (2) Standard Price OF Rate $16.80 per pound $15.80 per hour $9.40 per hour Standard Coat (1) * (2)...
Case 10-17 Working Backwards from Variance Data (LO10-1, LO10-2, LO10-3] Vitex, Inc. manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system: Inputs Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit (1) Standard Quantity or Hours 2.40 pounds 1.00 hours 1.00 hours (2) Standard Price or Rate $16.80 per pound $15.20 per hour $ 9.50 per hour Standard Cost (1) x (2) $40.32 $15.20 $ 9.50 $65.02 Direct...
Case 10-17 Working Backwards from Variance Data [LO10-1, LO10-2, LO10-3] Vitex, Inc. manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system: Inputs (1) Standard Quantity or Hours (2) Standard Price or Rate Standard Cost (1) × (2) Direct materials 2.20 pounds $ 16.50 per pound $ 36.30 Direct labor 1.00 hours $ 15.60 per hour $ 15.60 Variable manufacturing overhead 1.00 hours $ 9.50 per hour $ 9.50 Total standard cost...
Vitex, Inc. manufactures a popular consumer product and it has
provided the following data excerpts from its standard cost system:
Inputs (1) Standard Quantity or Hours (2) Standard Price or Rate
Standard Cost (1) × (2) Direct materials 2.10 pounds $ 16.30 per
pound $ 34.23 Direct labor 1.00 hours $ 15.80 per hour $ 15.80
Variable manufacturing overhead 1.00 hours $ 9.30 per hour $ 9.30
Total standard cost per unit $ 59.33 Total Variances Reported
Standard Cost* Price...
Vitex, Inc, manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system: Inputs Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit (1) Standard Quantity or Hours 2.30 pounds 1.00 hours 1.00 hours (2) Standard Price or Rate $16.80 per pound $15.00 per hour $ 9.50 per hour Standard Cost (1) x (2) $38.64 $15.80 $ 9.5e $63.94 Direct materials Direct labor Variable manufacturing overhead Total Variances Reported Standard...
Vitex, Inc. manufactures a popular consumer product and it has
provided the following data excerpts from its standard cost system:
Inputs Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Quantity or Hours 2.20 pounds 1.00 hours 1.00 hours Price Or Rate $16.70 per pound $15.90 per hour $ 9.20 per hour Cost (1) (2) $36.74 $15.90 $ 9.20 $61.84 Direct materials Direct labor Variable manufacturing overhead Total Variances Reported Standard Price Quantity or Cost. Or Rate...
Vitex, Inc. manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system: Sta (2) Standard Price or Rate (1) Standard Quantity or Hours Standard Cost (1) x (2) Inputs $ per $38.64 2.30 pounds 1.00 hours 16.80 pound $15.50 per hour $15.50 Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit 1.00 hours 9.40 per hour $ 9.40 $63.54 Total Variances Reported Standard Price Quantity or Cost* or Rate...
Vitex, Inc. manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system: Inputs (1) Standard Quantity or Hours (2) Standard Price or Rate Standard Cost (1) × (2) Direct materials 2.40 pounds $ 17.10 per pound $ 41.04 Direct labor 1.00 hours $ 15.30 per hour $ 15.30 Variable manufacturing overhead 1.00 hours $ 9.30 per hour $ 9.30 Total standard cost per unit $ 65.64 Total Variances Reported Standard Cost* Price...
Vitex, Inc. manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system: Inputs Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit (1) Standard Quantity or Hours 2.10 pounds 1.00 hours 1.00 hours (2) Standard Price or Rate $16.50 per pound $15.20 per hour 9.20 per hour Standard Cost (1) (2) $34.65 $15.20 $9.20 $59.05 Direct materials Direct labor Variable manufacturing overhead Total Variances Reported Standard Price Quantity or...
itex, Inc. manufactures a popular consumer product and it has
provided the following data excerpts from its standard cost
system:
Inputs
(1) Standard Quantity or Hours
(2)
Standard
Price
or Rate
Standard
Cost
(1) × (2)
Direct materials
2.30
pounds
$
16.30
per pound
$
37.49
Direct labor
1.00
hours
$
16.00
per hour
$
16.00
Variable manufacturing overhead
1.00
hours
$
9.60
per hour
$
9.60
Total standard cost per unit
$
63.09
Total
Variances Reported
Standard
Cost*
Price...