Solution 1:
Direct Material Cost Variance | ||||||||||||
Actual Cost | Standard cost for actual quantity | Standard Cost | ||||||||||
AQ * | AP = | AQ * | SP = | SQ * | SP = | |||||||
5030 | $5.50 | $27,665.00 | 5030 | $5.00 | $25,150.00 | 4845 | $5.00 | $24,225.00 | ||||
$2,515.00 | U | $925.00 | U | |||||||||
Direct Material Price Variance | Direct Material Qty variance | |||||||||||
Direct material price variance | $2,515.00 | U | ||||||||||
Direct material quantity variance | $925.00 | U | ||||||||||
Direct material cost variance | $3,440.00 | U |
Solution 2:
Direct Labor Cost Variance | ||||||||||||
Actual Cost | Standard cost for actual quantity | Standard Cost | ||||||||||
AH * | AR = | AH * | SR = | SH * | SR = | |||||||
3170 | $15.70 | $49,769.00 | 3170 | $15.00 | $47,550.00 | 3230 | $15.00 | $48,450.00 | ||||
$2,219.00 | U | $900.00 | F | |||||||||
Direct Labor rate Variance | Direct Labor Efficiency Variance | |||||||||||
Direct Labor Rate variance | $2,219.00 | U | ||||||||||
Direct Labor Efficiency variance | $900.00 | F | ||||||||||
Direct labor cost variance | $1,319.00 | U |
Solution 3:
Variable Overhead Cost Variance | ||||||||||||
Actual Cost | Standard cost for actual quantity | Standard Cost | ||||||||||
AH * | AR = | AH * | SR = | SH * | SR = | |||||||
3170 | $4.63 | $14,690.00 | 3170 | $6.00 | $19,020.00 | 3230 | $6.00 | $19,380.00 | ||||
$4,330.00 | F | $360.00 | F | |||||||||
Variable overhead rate variance | Variable overhead efficiency variance | |||||||||||
Variable overhead rate variance | $4,330.00 | F | ||||||||||
Variable overhead efficiency variance | $360.00 | F | ||||||||||
Variable overhead cost variance | $4,690.00 | F |
Solution 4:
Fixed Overhead Cost Variance | ||||||||||||
Actual Fixed OH Cost | Budgeted Fixed Overhead | Standard Cost (FOH Applies) | ||||||||||
SH* | BR | |||||||||||
$25,150.00 | $24,000.00 | 3230 | $8.00 | $25,840.00 | ||||||||
$1,150.00 | U | $1,840.00 | F | |||||||||
Fixed overhead Budget Variance | Fixed overhead volume variance | |||||||||||
Fixed overhead Budget Variance | $1,150.00 | U | ||||||||||
Fixed overhead volume variance | $1,840.00 | F | ||||||||||
Total Fixed overhead variance | $690.00 | F |
Rip Tide Company manufactures surfboards. Its standard cost information follows: Standard Quantity 15 sq. ft. 10...
Rip Tide Company manufactures surfboards. Its standard cost information follows: Standard Quantity 15 sq. ft. 10 hrs. Standard Price (Rate) $5 per sq. ft. $15 per hr. Standard Unit Cost $ 75.00 150.89 Direct materials (fiberglass) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($24,600 + 300 units) 10 hrs. $ 6 per hr. 60.00 80.00 Rip Tide has the following actual results for the month of June 323 Number of units produced and sold...
Rip Tide Company manufactures surfboards. Its standard cost Information follows: Standard Quantity 15 sq. ft. 18 hrs. Standard Price (Rate) $ 5 per sq. ft. $15 per hr. Standard Unit Cost $ 75.ee 150.ee Direct materials (Fiberglass) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($24, eee + 3e8 units) 10 hrs. $ 6 per hr. 60.ee 82.ee Rip Tide has the following actual results for the month of June: Number of units produced and...
Rip Tide Company manufactures surfboards. Its standard cost information follows: Standard Quantity Standard Price (Rate) Standard Unit Cost Direct materials (fiberglass) 15 sq. ft. $ 5 per sq. ft. $ 75.00 Direct labor 10 hrs. $ 15 per hr. 150.00 Variable manufacturing overhead (based on direct labor hours) 10 hrs. $ 6 per hr. 60.00 Fixed manufacturing overhead ($24,000 รท 300 units) 80.00 Rip Tide has the following actual results for the month of June: Number of units produced and...
Rip Tide Company manufactures surfboards. Its standard cost information follows: Direct materials (fiberglass) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($24,000 300 units) Standard Quantity 15 sq. ft. 10 hrs. 10 hrs. Standard Price (Rate) $ 5 per sq. ft. $15 per hr. $ 6 per hr. Standard Unit Cost $ 75.00 150.00 60.00 80.00 Rip Tide has the following actual results for the month of June: Number of units produced and sold Number...
1) 2) Rip Tide Company manufactures surfboards. Its standard cost information follows: Standard Standard Price (Rate) $ 5 per sq. ft. $14 per hr. Standard Unit Cost $ 75.00 130.20 Quantity 15 sq. ft. 9.3 hrs. Direct materials (fiberglass) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($35,000 + 260 units) 46.50 $5 per hr. 9.3 hrs. 134.62 Rip Tide has the following actual results for the month of June: Number of units produced and...
Rip Tide Company manufactures surfboards. Its standard cost information follows: Standard Price (Rate) $4.9 per sq. ft. $ 14 per hr. Standard Unit Cost $ 86.24 145.60 Standard Quantity Direct materials (fiberglass) 17.6 sq. ft. Direct labor 10.4 hrs. Variable manufacturing overhead (based on direct labor hours) 10.4 hrs. Fixed manufacturing overhead ($ 22,000 - 285 units) $ 5 per hr. 52.00 77.19 Rip Tide has the following actual results for the month of June: Number of units produced and...
Barley Hopp, Inc., manufactures custom-ordered glass windows. Its standard cost information follows: Standard Quantity Direct materials (glass) 1.70 lbs. Direct labor 1.70 hrs. Variable manufacturing overhead (based on direct labor hours) 1.70 hrs. Fixed manufacturing overhead ($ 402,500.00 + 175,000.00 units) Standard Price Standard (Rate) Unit Cost $ 1.80 per lb. $ 3.06 $10.00 per hr. (8 01:00:30 $ 1.10 per hr. 1.87 2.30 Barley 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: Standard Quantity 1.60 lbs. 1.60 hrs. Standard Price (Rate) $ 1.78 per lb. $16.00 per hr. Standard Unit Cost $ 2.72 25.60 Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead (5364,500.00 + 135,000.00 units) 1.60 hrs. $ 1.20 per hr. 1.92 2.70 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: 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...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Quantity 1.68 lbs 1.6e hrs. Standard Price (Rate) $ 1.70 per lb. $16.00 per hr. Standard Unit Cost $ 2.72 25.68 Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($374,000.e0 +170,e00.00 units) $ 1.38 per hr. 1.60 hrs. 2.08 2.20 Barley Hopp had the following actual results last year Number of units produced and sold Number of pounds...