Homework Answers
Total Direct material variance for the clay pots = Standard material cost - Actual material cost
= $12,000 - 11,200
= $800 Favorable
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The following data for a pottery company pertain to the production of 2,000 clay pots during...
The following data for a pottery company pertain to the production of 2,000 clay pots during...
The following data for a pottery company pertain to the production of 2,000 clay pots during July. Direct Materials (all materials purchased were used) Standard cost: $6.00 per kilogram of clay Total actual cost: $11,200 Standard cost allowed for units produced was $12,000 Materials efficiency variance was $240 unfavourable Direct Manufacturing Labour: Standard cost is 2 pots per hour at $24.00 per hour Actual cost per hour was $24.50 Actual labour was 972 hours What is the direct manufacturing labour...
The following data for a pottery company pertain to the production of 2,000 clay pots during...
The following data for a pottery company pertain to the production of 2,000 clay pots during July. Direct Materials (all materials purchased were used): Standard cost: $2.00 per kilogram of clay Total actual cost: $10,640 Standard cost allowed for units produced was $12,000 Materials quantity variance was $800 favourable Direct Manufacturing Labour: Standard cost is 2 pots per hour at $24.00 per hour Actual cost per hour was $24.50 Actual labour was 1028 hours show all steps! a. What is...
The following data for a pottery company pertain to the production of 2,000 clay pots during...
The following data for a pottery company pertain to the production of 2,000 clay pots during July. Direct Materials (all materials purchased were used): Standard cost: $6.00 per kilogram of clay Total actual cost: $11,200 Standard cost allowed for units produced was $12,000 Materials efficiency variance was $240 unfavourable Direct Manufacturing Labour: Standard cost is 2 pots per hour at $24.00 per hour Actual cost per hour was $24.50 Actual labour was 972 hours What is the standard direct material...
Mark: 19 (1 point for each question) 1) The unemployment rate is high in the city...
Mark: 19 (1 point for each question) 1) The unemployment rate is high in the city in which a company has a factory. The company finds that they are able to pay new employees a lower wage per hour than when the unemployment rate was lower a year ago. Which variance is directly impacted? A) Materials price variance B) Materials efficiency variance C) Labour price variance D) Labour efficiency variance 2) Thomas Corporation produces stopwatches. According to company standards, it...
Jay Levitt Company budgeted the following cost standards for the current year: Direct materials (2 kg...
Jay Levitt Company budgeted the following cost standards for
the current year:
Direct materials (2 kg of
plastic at $6 per kilogram)
$12.00
Direct labour (2 hours at $12
per hour)
24.00
Variable manufacturing
overhead
11.90
Fixed manufacturing
overhead
6.25
Total standard cost per
unit
$54.15
Actual costs for producing 2,740 units were as follows:
Direct materials used
5,560
kg
Direct materials purchased
(6,780 kg)
$40,002
Direct labour (6,880 hours)
$67,424
Variable manufacturing
costs
$32,600
Fixed manufacturing costs
$17,600
Your...
If the actual labour hours worked exceed the standard labour hours allowed, what type of variance...
If the actual labour hours worked exceed the standard labour hours allowed, what type of variance will occur? Multiple Choice Favourable labour efficiency variance. ) Favourable labour rate variance. 0 Unfavourable labour efficiency variance. 0 Unfavourable labour rate variance. The standards for direct labour for a product are 2.5 hours at $8 per hour. Last month, 9,000 units of the product were made, and the labour efficiency variance was $8,000 favourable. What was the actual number of hours worked during...
Waterways Continuing Problem 12 At the end of June the manager of the B.C. manufacturing plant...
Waterways Continuing Problem 12
At the end of June the manager of the B.C. manufacturing plant
was provided with the following variance analysis report:
Budget
Actual
Variance
Favourable (F)/
Unfavourable (U)
Production in units
332,000
347,000
15,000
F
Production costs:
Direct material
$996,000
$1,017,940
$(21,940)
U
Direct labour
1,411,000
1,442,700
(31,700)
U
Variable overhead costs
166,000
172,957
(6,957)
U
Fixed overhead costs
174,300
168,620
5,680
F
Total production costs
$2,747,300
$2,802,217
$(54,917)
U
The manager immediately called the production supervisor,...
answere 17 to 20 The following labour standards have been established for a particular product: Standard...
answere 17 to 20
The following labour standards have been established for a particular product: Standard labour hours per unit of output Standard labour rate 7.5 hours $15.25 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labour cost Actual output 9,600 hours $144,480 1,200 units 17) What was the labour rate variance for the month? a) $240 favourable. b) $240 unfavourable. c) $1,920 favourable. d) $1,920 unfavourable. 18)...
The following data for the Fufkin Company pertain to the production of 3,000 clay pigeons during...
The following data for the Fufkin Company pertain to the production of 3,000 clay pigeons during July: Standard variable-overhead cost was $5.00 per pound of clay. The actual variable-overhead cost was $11,340. Standard variable-overhead cost allowed for units produced was $12,000. Variable-overhead efficiency variance was $340 unfavorable. _____ is the variable-overhead rate variance.
Tidex Company is a manufacturer of cleaning detergent. Cleanx is manufactured on a weekly basis. The...
Tidex Company is a manufacturer of cleaning detergent. Cleanx is
manufactured on a weekly basis. The following standards have been
established to produce 10,000 litres of Cleanx.
Standard direct labour hours of 5,000 to mix 10,000 litres of
detergent
Standard direct labour rate per hour: $18
Actual direct labour hours consumed: 5,500
Actual direct labour rate: $18.45
Calculate the Labour Quantity Variance (LQV).
$11,475 Favourable
$9,000 Unfavourable
$2,475 Favourable
$2,475 Unfavourable
Tidex Company is a manufacturer of cleaning detergent. Cleanx...
The following data for a pottery company pertain to the production of 2,000 clay pots during July. Direct Materials (all materials purchased were used) Standard cost: $6.00 per kilogram of clay Total actual cost: $11,200 Standard cost allowed for units produced was $12,000 Materials efficiency variance was $240 unfavourable Direct Manufacturing Labour: Standard cost is 2 pots per hour at $24.00 per hour Actual cost per hour was $24.50 Actual labour was 972 hours What is the direct manufacturing labour...
The following data for a pottery company pertain to the production of 2,000 clay pots during July. Direct Materials (all materials purchased were used): Standard cost: $6.00 per kilogram of clay Total actual cost: $11,200 Standard cost allowed for units produced was $12,000 Materials efficiency variance was $240 unfavourable Direct Manufacturing Labour: Standard cost is 2 pots per hour at $24.00 per hour Actual cost per hour was $24.50 Actual labour was 972 hours What is the standard direct material...
Mark: 19 (1 point for each question) 1) The unemployment rate is high in the city in which a company has a factory. The company finds that they are able to pay new employees a lower wage per hour than when the unemployment rate was lower a year ago. Which variance is directly impacted? A) Materials price variance B) Materials efficiency variance C) Labour price variance D) Labour efficiency variance 2) Thomas Corporation produces stopwatches. According to company standards, it...
Jay Levitt Company budgeted the following cost standards for
the current year:
Direct materials (2 kg of
plastic at $6 per kilogram)
$12.00
Direct labour (2 hours at $12
per hour)
24.00
Variable manufacturing
overhead
11.90
Fixed manufacturing
overhead
6.25
Total standard cost per
unit
$54.15
Actual costs for producing 2,740 units were as follows:
Direct materials used
5,560
kg
Direct materials purchased
(6,780 kg)
$40,002
Direct labour (6,880 hours)
$67,424
Variable manufacturing
costs
$32,600
Fixed manufacturing costs
$17,600
Your...
If the actual labour hours worked exceed the standard labour hours allowed, what type of variance will occur? Multiple Choice Favourable labour efficiency variance. ) Favourable labour rate variance. 0 Unfavourable labour efficiency variance. 0 Unfavourable labour rate variance. The standards for direct labour for a product are 2.5 hours at $8 per hour. Last month, 9,000 units of the product were made, and the labour efficiency variance was $8,000 favourable. What was the actual number of hours worked during...
Waterways Continuing Problem 12
At the end of June the manager of the B.C. manufacturing plant
was provided with the following variance analysis report:
Budget
Actual
Variance
Favourable (F)/
Unfavourable (U)
Production in units
332,000
347,000
15,000
F
Production costs:
Direct material
$996,000
$1,017,940
$(21,940)
U
Direct labour
1,411,000
1,442,700
(31,700)
U
Variable overhead costs
166,000
172,957
(6,957)
U
Fixed overhead costs
174,300
168,620
5,680
F
Total production costs
$2,747,300
$2,802,217
$(54,917)
U
The manager immediately called the production supervisor,...
answere 17 to 20
The following labour standards have been established for a particular product: Standard labour hours per unit of output Standard labour rate 7.5 hours $15.25 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labour cost Actual output 9,600 hours $144,480 1,200 units 17) What was the labour rate variance for the month? a) $240 favourable. b) $240 unfavourable. c) $1,920 favourable. d) $1,920 unfavourable. 18)...
Tidex Company is a manufacturer of cleaning detergent. Cleanx is
manufactured on a weekly basis. The following standards have been
established to produce 10,000 litres of Cleanx.
Standard direct labour hours of 5,000 to mix 10,000 litres of
detergent
Standard direct labour rate per hour: $18
Actual direct labour hours consumed: 5,500
Actual direct labour rate: $18.45
Calculate the Labour Quantity Variance (LQV).
$11,475 Favourable
$9,000 Unfavourable
$2,475 Favourable
$2,475 Unfavourable
Tidex Company is a manufacturer of cleaning detergent. Cleanx...
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