Homework Answers
| Actual Cost | Standard cost | |||||||||
| AH | AR | AH*AR | AH | SR | AH*SR | SH | SR | SH*SR | ||
| 15300 | 15.50 | 237150 | 15300 | 15 | 229500 | 15600 | 15 | 234000 | ||
| 7650 | 4500 | |||||||||
| Labor rate variance | 7650 | Unfavorable | ||||||||
| Labor efficiency variance | 4500 | Favorable | ||||||||
| Total labor variance | 3150 | Unfavorable | ||||||||
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Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $8 per lb.) (2 hrs....
Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $8 per lb.) (2 hrs. @ $15 per hr.) (2 hrs....
Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $8 per lb.) (2 hrs. @ $15 per hr.) (2 hrs. @ $12 per hr.) Actual 47,300 lbs. @ $8.10 per lb. 15,300 hrs. @ $15.50 per hr. $192,900 7,800 Exercise 21-8 Standard unit cost; total cost variance LO C2 (1) Compute the standard cost per unit. $ Direct materials Direct labor Overhead Total 48 30 24 $ (2) Compute the total cost variance for June. Indicate whether the...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $7 per lb.) (2 hrs. $16 per hr.) (2 hrs. $12 per hr.) Actual 47,200 lbs. @ $7.20 per lb. 15,300 hrs. $16.40 per hr. $ 193,600 7,800 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. AH = Actual Hours SH = Standard Hours AR = Actual Rate...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (5 lbs. @ $8 per lb.) (2 hrs. @ $17 per hr.) (2 hrs. @ $13 per hr.) Actual 36,500 lbs. @ $8.10 per lb. 14,200 hrs. @ $17.50 per hr. $193,700 7,200 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. AH - Actual Hours SH - Standard Hours AR -...
A manufactured product has the following information for June. Standard Actual Direct materials (5 lbs. @...
A manufactured product has the following information for
June.
Standard
Actual
Direct materials
(5 lbs. @ $8 per lb.)
42,900
lbs. @ $8.10 per lb.
Direct labor
(3 hrs. @ $16 per hr.)
25,200
hrs. @ $16.50 per hr.
Overhead
(3 hrs. @ $11 per hr.)
$
287,400
Units manufactured
8,500
AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Compute the direct labor rate variance and the direct labor efficiency variance. Indicate...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $8 per lb.) (2 hrs. @ $15 per hr.) (2 hrs. @ $12 per hr.) Actual 47, 300 lbs. @ $8.10 per lb. 15, 300 hrs. @ $15.50 per hr. $192,900 7,800 Exercise 21-9 Direct materials variances LO P2 Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. AQ...
A manufactured product has the following information for June. Standard Actual Direct materials (7 lbs. @...
A manufactured product has the following information for June. Standard Actual Direct materials (7 lbs. @ $9 per lb.) 56,500 lbs. @ $9.10 per lb. Direct labor (3 hrs. @ $16 per hr.) 23,700 hrs. @ $16.50 per hr. Overhead (3 hrs. @ $11 per hr.) $ 270,100 Units manufactured 8,000 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. AH = Actual Hours SH = Standard Hours AR...
Hutto Corp. has set the following standard direct materials and direct labor costs per unit for...
Hutto Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures. Direct materials (15 lbs. @ $4 per lb.) Direct labor (3 hrs. @ $15 per hr.) $60 45 During May the company incurred the following actual costs to produce 9,000 units. Direct materials (138,000 lbs. @ $3.75 per lb.) Direct labor (31,000 hrs. @ $15.10 per hr.). $517,500 468, 100 AH = Actual Hours SH = Standard Hours AR =...
The following information applies to the questions displayed below.) A manufactured product has the following information...
The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard 6 lbs. @ $8 per lb. 2 hrs. @ $16 per hr. 2 hrs. @ $12 per hr. Actual 48,500 lbs. @ $8.10 per lb. 15,700 hrs. @ $16.50 per hr. $198,000 8,000 Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting for...
Reed Corp. has set the following standard direct materials and direct labor costs per unit for...
Reed Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures Direct materials (16 lbs. Direct labor (3 hrs. $5 per lb.) 085 per mbi $14.00 per hr.) $80 During June the company incurred the following actual costs to produce 8,700 units ped Direet materials (141,300 lbs. $4.70 per lb.) Direct labor (30,400 hrs. $14.15 per hr.). $664, 110 430,160 Book AQ - Actual Quantity SQ - Standard Quantity AP =...
Reed Corp. has set the following standard direct materials and direct labor costs per unit for...
Reed Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures. $42 Direct materials (14 lbs. @ $3 per lb.) Direct labor (3 hrs. @ $15 per hr.) 45 During June the company incurred the following actual costs to produce 9,000 units. Direct materials (128,900 lbs. @ $2.80 per lb.) Direct labor (31,000 hrs. @ $15.20 per hr.). $360,920 471,200 AH = Actual Hours SH = Standard Hours AR = Actual...
Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $8 per lb.) (2 hrs. @ $15 per hr.) (2 hrs. @ $12 per hr.) Actual 47,300 lbs. @ $8.10 per lb. 15,300 hrs. @ $15.50 per hr. $192,900 7,800 Exercise 21-8 Standard unit cost; total cost variance LO C2 (1) Compute the standard cost per unit. $ Direct materials Direct labor Overhead Total 48 30 24 $ (2) Compute the total cost variance for June. Indicate whether the...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $7 per lb.) (2 hrs. $16 per hr.) (2 hrs. $12 per hr.) Actual 47,200 lbs. @ $7.20 per lb. 15,300 hrs. $16.40 per hr. $ 193,600 7,800 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. AH = Actual Hours SH = Standard Hours AR = Actual Rate...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (5 lbs. @ $8 per lb.) (2 hrs. @ $17 per hr.) (2 hrs. @ $13 per hr.) Actual 36,500 lbs. @ $8.10 per lb. 14,200 hrs. @ $17.50 per hr. $193,700 7,200 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. AH - Actual Hours SH - Standard Hours AR -...
A manufactured product has the following information for
June.
Standard
Actual
Direct materials
(5 lbs. @ $8 per lb.)
42,900
lbs. @ $8.10 per lb.
Direct labor
(3 hrs. @ $16 per hr.)
25,200
hrs. @ $16.50 per hr.
Overhead
(3 hrs. @ $11 per hr.)
$
287,400
Units manufactured
8,500
AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Compute the direct labor rate variance and the direct labor efficiency variance. Indicate...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $8 per lb.) (2 hrs. @ $15 per hr.) (2 hrs. @ $12 per hr.) Actual 47, 300 lbs. @ $8.10 per lb. 15, 300 hrs. @ $15.50 per hr. $192,900 7,800 Exercise 21-9 Direct materials variances LO P2 Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. AQ...
Hutto Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures. Direct materials (15 lbs. @ $4 per lb.) Direct labor (3 hrs. @ $15 per hr.) $60 45 During May the company incurred the following actual costs to produce 9,000 units. Direct materials (138,000 lbs. @ $3.75 per lb.) Direct labor (31,000 hrs. @ $15.10 per hr.). $517,500 468, 100 AH = Actual Hours SH = Standard Hours AR =...
The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard 6 lbs. @ $8 per lb. 2 hrs. @ $16 per hr. 2 hrs. @ $12 per hr. Actual 48,500 lbs. @ $8.10 per lb. 15,700 hrs. @ $16.50 per hr. $198,000 8,000 Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting for...
Reed Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures Direct materials (16 lbs. Direct labor (3 hrs. $5 per lb.) 085 per mbi $14.00 per hr.) $80 During June the company incurred the following actual costs to produce 8,700 units ped Direet materials (141,300 lbs. $4.70 per lb.) Direct labor (30,400 hrs. $14.15 per hr.). $664, 110 430,160 Book AQ - Actual Quantity SQ - Standard Quantity AP =...
Reed Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures. $42 Direct materials (14 lbs. @ $3 per lb.) Direct labor (3 hrs. @ $15 per hr.) 45 During June the company incurred the following actual costs to produce 9,000 units. Direct materials (128,900 lbs. @ $2.80 per lb.) Direct labor (31,000 hrs. @ $15.20 per hr.). $360,920 471,200 AH = Actual Hours SH = Standard Hours AR = Actual...
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