Solution a1:
Direct Material Cost Variance | ||||||||||||
Actual Cost | Standard cost for actual quantity | Standard Cost | ||||||||||
AQ * | AP = | AQ * | SP = | SQ * | SP = | |||||||
3100 | $6.10 | $18,910.00 | 3100 | $6.00 | $18,600.00 | 3000 | $6.00 | $18,000.00 | ||||
$310.00 | U | $600.00 | U | |||||||||
Direct Material Price Variance | Direct Material Qty variance | |||||||||||
Direct material price variance | $310.00 | U | ||||||||||
Direct material quantity variance | $600.00 | U | ||||||||||
Direct material cost variance | $910.00 | U |
Solution a2:
Direct Labor Cost Variance | ||||||||||||
Actual Cost | Standard cost for actual quantity | Standard Cost | ||||||||||
AH * | AR = | AH * | SR = | SH * | SR = | |||||||
1400 | $11.20 | $15,680.00 | 1400 | $11.00 | $15,400.00 | 1500 | $11.00 | $16,500.00 | ||||
$280.00 | U | $1,100.00 | F | |||||||||
Direct Labor rate Variance | Direct Labor Efficiency Variance | |||||||||||
Direct Labor Rate variance | $280.00 | U | ||||||||||
Direct Labor Efficiency variance | $1,100.00 | F | ||||||||||
Direct labor cost variance | $820.00 | F |
Solution b:
Total overhead variance = Overhead applied - actual overhead
= (3000*0.50*$10) - ($10,498 + $6,302)
= $1,800 U
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Rogen Corporation manufactures a single product. The standard
cost per unit of product is shown below.
Direct materials—1 pound plastic at $6 per pound
$ 6.00
Direct labor—0.50 hours at $11.75 per hour
5.88
Variable manufacturing overhead
3.50
Fixed manufacturing overhead
1.50
Total standard cost per unit
$16.88
The predetermined manufacturing overhead rate is $10 per direct
labor hour ($5.00 ÷ 0.50). It was computed from a master
manufacturing overhead budget based on normal production of 2,950
direct labor hours...
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cost per unit of product is shown below.
Direct materials—3 pound plastic at $6.00 per pound
$ 18.00
Direct labor—1.5 hours at $11.00 per hour
16.50
Variable manufacturing overhead
10.50
Fixed manufacturing overhead
7.50
Total standard cost per unit
$52.50
The predetermined manufacturing overhead rate is $12 per direct
labor hour ($18.00 ÷ 1.5). It was computed from a master
manufacturing overhead budget based on normal production of 7,800
direct labor hours...
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