Homework Answers
Part A
In managerial accounting, the standard cost is a predetermined cost or estimated future cost. It is an estimated expense that normally occurs during the product production or service performance. The standard costs include direct materials cost, direct labor cost and manufacturing overhead.
Part B
Material quantity variance = SP * (AQ-SQ) = 35*(175000-(17000*10)) = $175000 Unfavorable
Part C
Labor rate variance = AH*(AR-SR) = 53550*(12-10) = $107100 Unfavorable
Part D
Total material variance = (AQ*AP)-(SQ*SP) = (175000*33.50)-(17000*10*35) = -87500 = $87500 Favorable
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3. Three former students at BOCODOL formed a manufacturing company, Batho & Mondo Enterprises. The company...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: Direct materials: 5 kg at $9.00 per kg $ 45.00 Direct labour: 3 hours at $14 per hour 42.00 Variable overhead: 3 hours at $9 per hour 27.00 Total standard cost per unit $ 114.00 The company planned to produce and sell 20,000 units in March. However, during March the company actually produced and...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: Direct materials: 4 kg at $9.00 per kg $ 36.00 Direct labour: 3 hours at $12 per hour 36.00 Variable overhead: 3 hours at $8 per hour 24.00 Total standard cost per unit $ 96.00 The company planned to produce and sell 28,000 units in March. However, during March the company actually produced and...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: Direct materials: 5 kg at $9.00 per kg $ 45.00 Direct labour: 3 hours at $14 per hour 42.00 Variable overhead: 3 hours at $9 per hour 27.00 Total standard cost per unit $ 114.00 The company planned to produce and sell 20,000 units in March. However, during March the company actually produced and...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: 55.00 36.00 Direct materials: 5 $ kg at $11.00 per kg Direct labour: 3 hours at $12 per hour Variable overhead: 3 hours at $7 per hour 21.00 $ 112.00 Total standard cost per unit The company planned to produce and sell The company planned to produce and sell 21,000 units in March. However,...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: 55.00 36.00 Direct materials: 5 $ kg at $11.00 per kg Direct labour: 3 hours at $12 per hour Variable overhead: 3 hours at $7 per hour 21.00 $ 112.00 Total standard cost per unit The company planned to produce and sell The company planned to produce and sell 21,000 units in March. However,...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: 55.00 36.00 Direct materials: 5 $ kg at $11.00 per kg Direct labour: 3 hours at $12 per hour Variable overhead: 3 hours at $7 per hour 21.00 $ 112.00 Total standard cost per unit The company planned to produce and sell The company planned to produce and sell 21,000 units in March. However,...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: 55.00 36.00 Direct materials: 5 $ kg at $11.00 per kg Direct labour: 3 hours at $12 per hour Variable overhead: 3 hours at $7 per hour 21.00 $ 112.00 Total standard cost per unit The company planned to produce and sell The company planned to produce and sell 21,000 units in March. However,...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: 55.00 36.00 Direct materials: 5 $ kg at $11.00 per kg Direct labour: 3 hours at $12 per hour Variable overhead: 3 hours at $7 per hour 21.00 $ 112.00 Total standard cost per unit The company planned to produce and sell The company planned to produce and sell 21,000 units in March. However,...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: 55.00 36.00 Direct materials: 5 $ kg at $11.00 per kg Direct labour: 3 hours at $12 per hour Variable overhead: 3 hours at $7 per hour 21.00 $ 112.00 Total standard cost per unit The company planned to produce and sell The company planned to produce and sell 21,000 units in March. However,...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: Direct materials: 6 kg at $9.00 per kg Direct labour: 3 hours at $15 per hour Variable overhead: 3 hours at $5 per hour $ 54.00 45.00 15.00 Total standard cost per unit $ 114.00 The company planned to produce and sell 20,000 units in March. However, during March the company actually produced and...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: 55.00 36.00 Direct materials: 5 $ kg at $11.00 per kg Direct labour: 3 hours at $12 per hour Variable overhead: 3 hours at $7 per hour 21.00 $ 112.00 Total standard cost per unit The company planned to produce and sell The company planned to produce and sell 21,000 units in March. However,...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: 55.00 36.00 Direct materials: 5 $ kg at $11.00 per kg Direct labour: 3 hours at $12 per hour Variable overhead: 3 hours at $7 per hour 21.00 $ 112.00 Total standard cost per unit The company planned to produce and sell The company planned to produce and sell 21,000 units in March. However,...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: 55.00 36.00 Direct materials: 5 $ kg at $11.00 per kg Direct labour: 3 hours at $12 per hour Variable overhead: 3 hours at $7 per hour 21.00 $ 112.00 Total standard cost per unit The company planned to produce and sell The company planned to produce and sell 21,000 units in March. However,...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: 55.00 36.00 Direct materials: 5 $ kg at $11.00 per kg Direct labour: 3 hours at $12 per hour Variable overhead: 3 hours at $7 per hour 21.00 $ 112.00 Total standard cost per unit The company planned to produce and sell The company planned to produce and sell 21,000 units in March. However,...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: 55.00 36.00 Direct materials: 5 $ kg at $11.00 per kg Direct labour: 3 hours at $12 per hour Variable overhead: 3 hours at $7 per hour 21.00 $ 112.00 Total standard cost per unit The company planned to produce and sell The company planned to produce and sell 21,000 units in March. However,...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: 55.00 36.00 Direct materials: 5 $ kg at $11.00 per kg Direct labour: 3 hours at $12 per hour Variable overhead: 3 hours at $7 per hour 21.00 $ 112.00 Total standard cost per unit The company planned to produce and sell The company planned to produce and sell 21,000 units in March. However,...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: Direct materials: 6 kg at $9.00 per kg Direct labour: 3 hours at $15 per hour Variable overhead: 3 hours at $5 per hour $ 54.00 45.00 15.00 Total standard cost per unit $ 114.00 The company planned to produce and sell 20,000 units in March. However, during March the company actually produced and...
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