1 | ||||||||||
Actual Quantity | x | ( | Actual Price | - | Standard Price | ) | = | DM Price Variance | ||
11,120 | x | ( | $3.50 | - | $3.00 | ) | = | $5,560 | U | |
2 | Standard Price | x | ( | Actual Quantity used | - | Standard Quantity allowed | ) | = | DM Quantity Variance | |
$3.00 | x | ( | 10,320 | - | 9,600 | ) | = | $2,160 | U | |
FlowerMate is a manufacturer of large flower pots for urban settings. The company has these standards:...
CenterWare is a manufacturer of large flower pots for urban settings. The company has these standards: Requirements 1. Compute the direct material price variance and the direct material quantity variance. 2. Who is generally responsible for each variance? 3. Interpret the variances. Direct materials (resin): 10 pounds per pot at a cost of $4.00 per pound Direct labor: 3.0 hours at a cost of $14.00 per hour Standard variable manufacturing overhead rate: $5.00 per direct labor hour Budgeted fixed manufacturing...
FlowerMate is a manufacturer of large flower pots for urban settings. The company has these standards: Direct materials (resin) - 15 pounds per pot at a cost of $6.00 Direct labor - 2.0 hours at a cost of $16.00 per hour Standard variable manufacturing overhead rate - $7.00 per direct labor hour Budgeted fixed manufacturing overhead - $20,600 Standard fixed MOH rate - $6.00 per direct labor hour (DLH) FlowerMateFlowerMate allocated fixed manufacturing overhead to production based on standard direct...
Ceramics Etc is a manufacturer of large flower pots for urban settings The company has these standards (Click the icon to view the standards ) Click the icon to view the actual results) Read the Requirement 1. Compute the direct laborate variance and the direct labor efficiency variance Enter the variances as positive numbers Enter the currency amounts in the formulas to the nearest cent, then round the final variance amounts to the nearest whole dollar Label the variance as...
CenterWare is a manufacturer of large flower pots for urban settings. The company has these standards: Direct materials (resin) - 8 pounds per pot at a cost of $5.00 per pound Direct labor - 3.0 hours at a cost of $14.00 per hour Standard variable manufacturing overhead rate - $5.00 per direct labor hour Budgeted fixed manufacturing overhead -$17,600 Standard fixed MOH rate - $6.00 per direct labor hour (DLH) CenterWare allocated fixed manufacturing overhead to production based on standard...
Ceramics Etc. is a manufacturer of large flower pots for urban settings. The company has these standards: i Standard Price and Volume Direct materials (resin) 12 pounds per pot at a cost of $3.00 per pound 2.0 hours at a cost of $15.00 per hour Direct labor Standard variable manufacturing overhead rate $3.00 per direct labor hour Budgeted fixed manufacturing overhead $27,400 $8.00 per direct labor hour (DLH) Standard fixed MOH rate - X Actual Results Ceramics Etc. allocated fixed...
Ceramics Etc. is a manufacturer of large flower pots for urban settings. The company has these standards: REQUIREMENTS: 1. Compute the direct labor rate variance and the direct labor efficiency variance. 2. What is the total variance for direct labor? 3. Who is generally responsible for each variance? 4. Interpret the variances. STARNDARD PRICE AND VOLUME Direct materials (resin). . . . . . . . . . . . . . . . . . . . . ....
Ceramics Etc is a manufacturer of large flower pots for urban settings. The company has these standards: Direct materials (resin). . . . . . . . . . . . . . . . . . . . 13 pounds per pot at a cost of $3.00 per pound Direct labor. . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.0...
Watermate Products is a manufacturer of large flower pots for urban settings. The company has these standards: Direct materials (resin) - 10.8 pounds per pot, at a cost of $3.00 per pound Direct labor - 1.6 hours at a cost of $15.65 per hour Standard variable manufacturing overhead rate - $2.50 per direct labor hour Predetermined fixed manufacturing overhead rate - $6.60 per direct labor hour 1. Compute the standard cost of each of the following inputs per pot: direct...
Standard Price and Volume Standards: Direct materials 21.0 yards per awning at $15.00 per yard Direct labor 5.0 hours per awning at $17.00 per hour Variable MOH standard rate $4.00 per direct labor hour Predetermined fixed MOH standard rate $7.00 per direct labor hour Total budgeted fixed MOH cost $78,200 Print Done X Actual Results 1 Purchased 51,750 yards at a total cost of $755,550 Used 47,500 yards in producing 2,300 awnings Actual direct labor cost of $194,256 for a...
Pender Awning manufactures awnings and uses a standard cost system. The company allocates overhead based on the number of direct labor hours. The following are the company's cost and standards data: Click the icon to view the standards.) Actual cost and operating data from the most recent month are as follows: B Click the icon to view the actual results.) All manufacturing overhead is allocated on the basis of direct labor hours. Read the requirements. Requirement 1. Calculate the standard...