Materials Quantity variance | ||||||||
(AQ used - Std Qty allowed)*SR | ||||||||
(x - 3200*3)*5 =2100U | ||||||||
5x - 48000 = 2100U | ||||||||
x | =(2100+48000)/5 | |||||||
10020 | ||||||||
a) | actual cost = | 60120/10020 | ||||||
6 | per foot | answer | ||||||
( | ||||||||
b) | Materials price variance | |||||||
(Actual rate - standard rate)*AQ purchased | ||||||||
(6 - 5)*10,020 | ||||||||
10020 | U | answer | ||||||
Spending variance = | 2100U+10020U | |||||||
12120 | U | answer | ||||||
2a) | labor spending varian | 3,500 | U | |||||
labor efficiency varian | 1,050 | U | ||||||
labor price variance | 2450 | U | ||||||
labor rate variance = ( Actual rate - standard rate)*Actual hours | ||||||||
(53,900- x*4900) | = | 2,450 | ||||||
x = | (53900-2450)/4900 | |||||||
10.50 | ||||||||
Standard hours | 10.5 | per hour | ||||||
b) | Standard hours = | |||||||
labor efficiency variance | ||||||||
(Actual hours - standard hours allowed)*Standard rate | ||||||||
(4900 -x) *10.50 = 1,050 | ||||||||
51,450 - 10.5x = 1050 | ||||||||
x = (51450-1050)/10.5 | ||||||||
4800 | ||||||||
Standard hours allowed | 4,800 | hours | ||||||
c) | Standard hours allowed per unit of product | |||||||
4800/3200 | ||||||||
1.5 | ||||||||
Standard hours allowed per unit of product | 1.5 | hours per unit | ||||||
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