Ans. | Actual volume on 75% capacity = 20,000 * 75% | ||||
15,000 units | |||||
*Standard quantity (SQ) = Actual output * Materials quantity per unit of output | |||||
15,000 units * 6 Ibs. | |||||
90,000 | Ibs. | ||||
Actual Cost | Actual quantity at Standard price | Standard Cost | |||
Actual quantity * Actual price | Actual quantity * Standard price | Standard quantity * Standard price | |||
91,000 * $5.10 | 91,000 * $5 | 90,000 * $5.00 | |||
$464,100 | $455,000 | $450,000 | |||
-$9,100 | -$5,000 | ||||
Materials price variance | -$9,100 | or $9,100 Unfavorable | |||
Materials quantiy variance | -$5,000 | or $5,000 Unfavorable | |||
Total Materials Variance | -$14,100 | or $14,100 Unfavorable | |||
*Materials price variance = Actual quantity at standard price - Actual cost | |||||
*Materials quantity variance = Standard cost - Actual quantity at standard price | |||||
*If the standard cost, price and quantity are higher than the actual it means the variance is favorable. | |||||
*If the standard cost, price and quantity are lower than the actual it means the variance is unfavorable. |
Part 2 of 4 Required information (The following information applies to the questions displayed below Antuan...
Required information The following information applies to the questions displayed below) Antuan Company set the following standard costs for one unit of its product ve Direct materials (6 Ibs. $5 per Ib.) Direct labor (2 hrs. $17 per hr.) Overhead (2 hrs. $18.50 per hr.) Total standard cost 34 37 The predetermined overhead rate (518 50 per direct labor hour) is based on an expected volume of 75% of the factory's capacity of 20.000 units per month Following are the...
Required information [The following information applies to the questions displayed below.] Antuan Company set the following standard costs for one unit of its product. Direct materials (4.0 Ibs. @ $6.00 per Ib.) Direct labor (1.9 hrs. @ $13.00 per hr.) Overhead (1.9 hrs. @ $18.50 per hr.) Total standard cost $24.00 24.70 35.15 $83.85 The predetermined overhead rate ($18.50 per direct labor hour) is based on an expected volume of 75% of the factory's capacity of 20,000 units per month....
Required information Part 1 of 4 Required information The following information applies to the questions displayed below] Antuan Company set the following standard costs for one unit of its product $ 30 Direct materials (6 Ibs. @ $5 per Ib.) Direct labor (2 hrs. @ $17 per hr.) Overhead (2 hrs. @ $18.50 per hr.) Total standard cost 34 37 The predetermined overhead rate ($18.50 per direct labor hour) is based on an expected volume of 75% of the factory's...
Required information [The following information applies to the
questions displayed below.] Antuan Company set the following
standard costs for one unit of its product. Direct materials (4.0
Ibs. @ $4.00 per Ib.) $ 16.00 Direct labor (1.9 hrs. @ $11.00 per
hr.) 20.90 Overhead (1.9 hrs. @ $18.50 per hr.) 35.15 Total
standard cost $ 72.05 The predetermined overhead rate ($18.50 per
direct labor hour) is based on an expected volume of 75% of the
factory’s capacity of 20,000 units...
Required information [The following information applies to the questions displayed below.) Antuan Company set the following standard costs for one unit of its product. Direct materials (4.0 Ibs. @ $4.ee per Ib.) Direct labor (1.8 hrs. @ $12.00 per hr.) Overhead (1.8 hrs. @ $18.50 per hr.) Total standard cost $16.00 21.60 33.38 $79.90 The predetermined overhead rate ($18.50 per direct labor hour) is based on an expected volume of 75% of the factory's capacity of 20,000 units per month....
Required information [The following information applies to the questions displayed below Antuan Company set the following standard costs for one unit of its product. Direct materials (5.0 Ibs. $6.00 per Ib.) $30.00 Direet labor (1.8 hre. $14.00 per hr.) Overhead (1.8 hrs. $18.50 per hr. Total standard co 25.20 33.30 $88.50 The predetermined overhead rate ($18.50 per direct labor hour) is based on an expected volume of 75% of the factory's capacity of 20,000 units per month. Following are the...
Required information [The following information applies to the questions displayed below.] Antuan Company set the following standard costs for one unit of its product. Direct materials (4.0 Ibs. @ $6.00 per Ib.) Direct labor (1.9 hrs. @ $13.00 per hr.) Overhead (1.9 hrs. @ $18.50 per hr.) Total standard cost $24.00 24.70 35.15 $83.85 The predetermined overhead rate ($18.50 per direct labor hour) is based on an expected volume of 75% of the factory's capacity of 20,000 units per month....
Required information [The following information applies to the questions displayed below.] Antuan Company set the following standard costs for one unit of its product. Direct materials (3.0 Ibs. @ $6.00 per Ib.) $ 18.00 Direct labor (2.0 hrs. @ $10.00 per hr.) 20.00 Overhead (2.0 hrs. @ $18.50 per hr.) 37.00 Total standard cost $ 75.00 The predetermined overhead rate ($18.50 per direct labor hour) is based on an expected volume of 75% of the factory’s capacity of 20,000 units...
Antuan Company set the following standard costs for one unit of its product. Direct materials (6 Ibs. $5 per Ib.) Direct labor (2 hrs. e $17 per hr.) Overhead (2 hrs. $18.50 per hr.) 30 34 37 Total standard cost $101 The predetermined overhead rate ($18.50 per direct labor hour) is based on an expected volume of 75% of the factory's capacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the 75% capacity...
Required information [The following information applies to the questions displayed below.] Antuan Company set the following standard costs for one unit of its product. Direct materials (4.0 Ibs. @ $5.00 per Ib.) Direct labor (1.8 hrs. @ $11.00 per hr.) Overhead (1.8 hrs. @ $18.50 per hr.) Total standard cost $20.00 19.80 33.30 $ 73.10 The predetermined overhead rate ($18.50 per direct labor hour) is based on an expected volume of 75% of the factory's capacity of 20,000 units per...