Homework Answers
This statement is a calculation of standard cost variance analysis (material,labour). here we are comparing the actual vs standard .
Material price variance -Unfavorable - actual material purchased is higher than the std fixed
Material Usage variance - Unfavorable- Actual material qty used more than std qty
Labour rate variance- Favorable-Actual Direct labour cost is less than budgeted labour cost
Labour efficiency variance -unfavorable- labour efficiency is reduced
Add Answer to:
what is the favorable unfavorable if statement that should be
used for this excel spreadsheet
What...
What is the direct labor rate variance? 50 unfavorable 125 unfavorable 125 favorable The following information...
What is the direct labor rate variance? 50 unfavorable 125 unfavorable 125 favorable The following information for Q 7-8 The St. Augustine Corporation originally budgeted for $360,000 of fixed overhead at 100% normal production capacity. Production was budgeted to be 12,000 units. The standard hours for production were 5 hours per unit. The variable overhead rate was S3 per hour. Actual fixed overhead was $360,000 and actual variable overhead was $170,000. Actual production was 11,800 units. 7. The variable factory...
Multiple Choice $3,000 favorable. $54,000 favorable. $23,000 unfavorable. $26,000 unfavorable. Machine Builders Inc. adopted a standard...
Multiple Choice
$3,000 favorable.
$54,000 favorable.
$23,000 unfavorable.
$26,000 unfavorable.
Machine Builders Inc. adopted a standard cost system several years ago that it uses in conjunction with its process cost system. The per-unit standard costs for direct materials and direct labor for its single product are as follows: Materials: (5 kilograms x $10 per kilogram) (4 hours x $17 per hour) $ 50 Labor: 68 All materials are issued at the beginning of processing. The operating data shown below were...
Identify if favorable, unfavorable or neither for all of them. Levine Inc., which produces a single...
Identify if favorable, unfavorable or neither for all of
them.
Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. $15.00 $65.00 Direct materials (10 pounds at $1.50 per pound) Direct labor (5 hours at $13.00 per hour) During the month of April, the company manufactures 180 units and incurs the following actual costs. Direct materials purchased and used (2,500 pounds) $4,250 $11,904 Direct labor (930 hours) Compute the total,...
Drop down box options: Favorable, Unfavorable, Neither Favorable or Unfavorable Lewis Company's standard labor cost of...
Drop down box options: Favorable, Unfavorable, Neither
Favorable or Unfavorable
Lewis Company's standard labor cost of producing one unit of Product DD is 3.90 hours at the rate of $13.20 per hour. During August, 40,800 hours of labor are incurred at a cost of $13.30 per hour to produce 10,300 units of Product DD. (a) Compute the total labor variance. Total labor variance (b) Compute the labor price and quantity variances. Labor price variance Labor quantity variance Compute the labor...
Drop down box options: Favorable, Unfavorable, or Neither Favorable or Unfavorable The standard cost of Product...
Drop down box options: Favorable, Unfavorable, or
Neither Favorable or Unfavorable
The standard cost of Product B manufactured by Pharrell Company includes 2.6 units of direct materials at $5.50 per unit. During June, 27,200 units of direct materials are purchased at a cost of $5.45 per unit, and 27,200 units of direct materials are used to produce 10,400 units of Product B. (a) Compute the total materials variance and the price and quantity variances. Total materials variance Materials price variance...
Mastery Problem: Manufacturing Cost Variance (Actual Costs Compared to Standard Costs) Manufacturing cost variances may come...
Mastery Problem: Manufacturing Cost Variance (Actual Costs Compared to Standard Costs) Manufacturing cost variances may come from material costs that are higher or lower than expected, material usage that is not what was expected, higher or lower labor costs than expected, or more or less time spent to produce an item than expected. Overhead cost and volume variances are another cause for costs to be higher or lower than what was expected. The total manufacturing variance can be broken down...
The drop down boxes ask if favorable, unfavorable or unapplicable Exercise b-13 The following information is...
The drop down boxes ask if favorable,
unfavorable or unapplicable
Exercise b-13 The following information is available for Coronado's Chocolates: Actual production 2,810 boxes Budgeted production 3,240 boxes Direct Materials Standard 1.5 pounds of chocolate per box @ $8.03 per pound Actual 6,050 pounds purchased @ $7.68 per pound 4,765 pounds used @ $7.68 per pound (a) Calculate the direct materials price and quantity variances. (Round answers to 0 decimal places, e.g. 125. If variance is zero, select "Not Applicable"...
The following data were drawn from the records of Solomon Corporation. Planned volume for year (static...
The following data were drawn from the records of Solomon Corporation. Planned volume for year (static budget) Standard direct materials cost per unit Standard direct labor cost per unit Total expected fixed overhead costs Actual volume for the year (flexible budget) Actual direct materials cost per unit Actual direct labor cost per unit Total actual fixed overhead costs 4,100 units 4.00 pounds @ $1.60 per pound 2.10 hours @ $5.00 per hour $ 18,450 4,500 units 3.60 pounds @ $2.00...
1) 2) 3) 4) 5) A favorable cost variance occurs when Oa. actual costs are the...
1)
2)
3)
4)
5)
A favorable cost variance occurs when Oa. actual costs are the same as standard costs Ob. actual costs are more than standard costs Oc. standard costs are more than actual costs Od. standard costs are less than actual costs The Flapjack Corporation had 8,042 actual direct labor hours at an actual rate of $12.00 per hour. Original production had been budgeted for 1,100 units, but only 999 units were actually produced. Labor standards were 7.9...
utto Corp, has set the following standard direct materials and direct labor costs per unit for...
utto Corp, has set the following standard direct materials and direct labor costs per unit for the product it manufactures. Direct materials (15 lbs. $3 per lb.) Direct labor (4 hrs. $15 per hr.) uring May the company incurred the following actual costs to produce 8,700 units. Direct materials (134,000 lbs. $2.80 per lb.) Direct labor (39,500 hrs. $15.10 per hr.). $375,200 596,450 Q-Actual Quantity Q - Standard Quantity P- Actual Price P Standard Price H-Actual Hours H - Standard...
What is the direct labor rate variance? 50 unfavorable 125 unfavorable 125 favorable The following information for Q 7-8 The St. Augustine Corporation originally budgeted for $360,000 of fixed overhead at 100% normal production capacity. Production was budgeted to be 12,000 units. The standard hours for production were 5 hours per unit. The variable overhead rate was S3 per hour. Actual fixed overhead was $360,000 and actual variable overhead was $170,000. Actual production was 11,800 units. 7. The variable factory...
Multiple Choice
$3,000 favorable.
$54,000 favorable.
$23,000 unfavorable.
$26,000 unfavorable.
Machine Builders Inc. adopted a standard cost system several years ago that it uses in conjunction with its process cost system. The per-unit standard costs for direct materials and direct labor for its single product are as follows: Materials: (5 kilograms x $10 per kilogram) (4 hours x $17 per hour) $ 50 Labor: 68 All materials are issued at the beginning of processing. The operating data shown below were...
Identify if favorable, unfavorable or neither for all of
them.
Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. $15.00 $65.00 Direct materials (10 pounds at $1.50 per pound) Direct labor (5 hours at $13.00 per hour) During the month of April, the company manufactures 180 units and incurs the following actual costs. Direct materials purchased and used (2,500 pounds) $4,250 $11,904 Direct labor (930 hours) Compute the total,...
Drop down box options: Favorable, Unfavorable, Neither
Favorable or Unfavorable
Lewis Company's standard labor cost of producing one unit of Product DD is 3.90 hours at the rate of $13.20 per hour. During August, 40,800 hours of labor are incurred at a cost of $13.30 per hour to produce 10,300 units of Product DD. (a) Compute the total labor variance. Total labor variance (b) Compute the labor price and quantity variances. Labor price variance Labor quantity variance Compute the labor...
Drop down box options: Favorable, Unfavorable, or
Neither Favorable or Unfavorable
The standard cost of Product B manufactured by Pharrell Company includes 2.6 units of direct materials at $5.50 per unit. During June, 27,200 units of direct materials are purchased at a cost of $5.45 per unit, and 27,200 units of direct materials are used to produce 10,400 units of Product B. (a) Compute the total materials variance and the price and quantity variances. Total materials variance Materials price variance...
The drop down boxes ask if favorable,
unfavorable or unapplicable
Exercise b-13 The following information is available for Coronado's Chocolates: Actual production 2,810 boxes Budgeted production 3,240 boxes Direct Materials Standard 1.5 pounds of chocolate per box @ $8.03 per pound Actual 6,050 pounds purchased @ $7.68 per pound 4,765 pounds used @ $7.68 per pound (a) Calculate the direct materials price and quantity variances. (Round answers to 0 decimal places, e.g. 125. If variance is zero, select "Not Applicable"...
The following data were drawn from the records of Solomon Corporation. Planned volume for year (static budget) Standard direct materials cost per unit Standard direct labor cost per unit Total expected fixed overhead costs Actual volume for the year (flexible budget) Actual direct materials cost per unit Actual direct labor cost per unit Total actual fixed overhead costs 4,100 units 4.00 pounds @ $1.60 per pound 2.10 hours @ $5.00 per hour $ 18,450 4,500 units 3.60 pounds @ $2.00...
1)
2)
3)
4)
5)
A favorable cost variance occurs when Oa. actual costs are the same as standard costs Ob. actual costs are more than standard costs Oc. standard costs are more than actual costs Od. standard costs are less than actual costs The Flapjack Corporation had 8,042 actual direct labor hours at an actual rate of $12.00 per hour. Original production had been budgeted for 1,100 units, but only 999 units were actually produced. Labor standards were 7.9...
utto Corp, has set the following standard direct materials and direct labor costs per unit for the product it manufactures. Direct materials (15 lbs. $3 per lb.) Direct labor (4 hrs. $15 per hr.) uring May the company incurred the following actual costs to produce 8,700 units. Direct materials (134,000 lbs. $2.80 per lb.) Direct labor (39,500 hrs. $15.10 per hr.). $375,200 596,450 Q-Actual Quantity Q - Standard Quantity P- Actual Price P Standard Price H-Actual Hours H - Standard...
Most questions answered within 3 hours.
-
Propose the importance of the financial account (from the BOP)
to economic indicators.?
asked 46 seconds ago -
Please submit the following files for this
assignment:
**************************Animal.h, Animal.cpp,
Mammal.h, Mammal.cpp, Cat.h, Cat.cpp,
main.cpp********************************************************
Assignment...
asked 1 minute ago -
Question 1.
XOR
Challenge 1: The key is a single digit
Decrypt the cipher =
snw{fzs...
asked 4 minutes ago -
Multidimensional arrays can be stored in row major order or in
column major order. The access...
asked 3 minutes ago -
A study is conducted
to determine the simple linear regression relation (if any) between
average temperature...
asked 22 minutes ago -
Twenty percent of all telephones of a certain type are submitted
for service while under warranty....
asked 52 minutes ago -
Which is a method of transmitting pathogens from one host to
another by carrying microorganisms inside...
asked 31 minutes ago -
In a memo written to a US trade policy maker, outline an
argument for the role...
asked 23 minutes ago -
Ten young adults living in California rated the taste of a newly
developed sushi pizza topped...
asked 43 minutes ago -
In a titration experiment, 29.9 mL of 0.797 M HCOOH neutralizes
20.6 mL of Ba(OH)2. What...
asked 39 minutes ago -
A
roller coaster cart of mass 312 kg travels around a horizontal
curve of radius 41.3...
asked 52 minutes ago -
M1=7/Hr ==> M2=6/Hr ==> M3=9/Hr ==> M4=8/Hr ==>
Demand = 10/Hr
The diagram shows the hourly...
asked 38 minutes ago