Ravena Labs., Inc. makes a single product which has the following standards:
Direct materials: 2.5 ounces at $20 per ounce
Direct labor: 1.4 hours at $12.50 per hour
Variable manufacturing overhead: 1.4 hours at 3.50 per hour
Variable manufacturing overhead is applied on the basis of standard direct labor-hours. The following data are available for October:
The materials quantity variance for October is:
Ravena Labs., Inc. makes a single product which has the following standards: Direct materials: 2.5 ounces...
Ravena Labs., Inc. makes a single product which has the following standards: Direct materials: 2.5 ounces at $20 per ounce Direct labor: 1.4 hours at $12.50 per hour Variable manufacturing overhead: 1.4 hours at 3.50 per hour Variable manufacturing overhead is applied on the basis of standard direct labor-hours. The following data are available for October: • 3,750 units of compound were produced during the month. • There was no beginning direct materials inventory. • Direct materials purchased: 12,000 ounces...
Problem 10-14 Basic Variance Analysis [LO10-1, LO10-2, LO10-3] Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, called Fludex, is prepared using an elaborate distilling process. The company has developed standard costs for one unit of Fludex, as follows: Standard Quantity Standard Price or Rate Standard Cost Direct materials 2.5 ounces $ 20.00 per ounce $ 50.00 Direct labor 1.4 hours $ 12.50 per hour 17.50 Variable manufacturing overhead 1.4 hours $ 3.50 per hour 4.90 $...
23310 ounces
23300 ounces
22687 ounces
23940 ounces
Lacrue Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours Standard Quantity or Hours per Unit of Output Inputs Direct materials Direct labor Variable manufacturing overhead Standard Price or Rate $ 5.5e per ounce $22.00 per hour $ 3.80 per hour 6.3 ounces e.40 hours 0.40 hours The actual output for the...
Problem 10-14 Basic Variance Analysis [LO10-1, LO10-2, LO10-3] Becton Labs, Inc., produces various chemical compounds for Industrial use. One compound, called Fludex, is prepared using an elaborate distilling process. The company has developed standard costs for one unit of Fludex, as follows: Standard Quantity or Hours 2.5 ounces 1.4 hours 1.4 hours Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard Price or Rate $20.00 per ounce $22.50 per hour $ 3.50 per hour Standard Cost...
Majer Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Standard Quantity or Standard Price or Cost Per Hours Rate Unit 6.4 ounces $ 3.00 per ounce $19.20 0.4 hours $13.00 per hour $ 5.20 0.4 hours $ 5.00 per hour $ 2.00 The company reported the following results concerning this product in February. Originally budgeted output Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price...
Jones Company has the following standards for its single product: standard quantity standard price direct materials 11 pounds per unit $4.25 per pound direct labor 8 hours per unit $14.00 per hour variable overhead 8 hours per unit ?????? per hour Jones Company reported the following information for the month of October: 1. 9,140 units were produced. 2. The direct material quantity variance was $36,295 favorable. 3. The variable overhead spending variance was $1,520 favorable. 4. The total direct labor...
Becton Labs, Inc. produces various chemical compounds for industrial use. One compound, called Fludex, is prepared using an elaborate distilling process. The company has developed standard costs for one unit of Fludex, as follows: standard Standard Quantity or Hours 2.00 ounces 0.60 hours Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit standard Price or Rate $27.00 per Ounce $12.00 per hour $ 3.50 per hour S430 7.20 2.1e $74.10 During November, the following activity was recorded...
able to apparent inefficient use of labor time? cost is not of concern? between this efficiency variance and the labor efficiency variance? rances computed in Standard Quantity or Hours Standard Price or Rate Standard Cost Variable manufacturing overhead Total standard cost per unit. 2.5 ounces 1.4 hours 1.4 hours $20.00 per ounce $22.50 per hour $3.50 per hour $50.00 31.50 4.90 $86.40 PROBLEM)-14 Basic Variance Analysis L010-1, L010-2, LO10-3 Fludex, is prepared using an elaborate distilling process. The company has...
Xavier Company produces a single product. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. The standard costs for one unit of product are as follows: Direct material: 6 ounces at $0.50 per ounce . . . . . . . . . . . . . . . . . . $3 Direct labor: 1.8 hours at $10 per hour . . . . . . . . . . . . . . ....
2.
Puvo, Inc., manufactures a single product in which variable manufacturing overhead is assigned on the basis of standard direct labor-hours. The company uses a standard cost system and has established the following standards for one unit of product: Standard Price or Standard Standard Quantity 6.70 pounds Rate Cost $ 3.35 Direct materials $ .50 per pound $42.50 per hour $ 9.40 per hour Direct labor 0.40 hours $17.00 $ 3.76 Variable manufacturing overhead 0.40 hours During March, the following...