Answer is given below
Elements of Labor and Variable Overhead Variances Chelsea Fabricating applies variable overhead to products on the...
eBook Question 2 Not complete Marked out of 1.00 Direct labor Elements of Labor and Variable Overhead Variances Chelsea Fabricating applies variable overhead to products on the basis of standard direct labor hours. Presented is selected information for last month when 10,000 units were produced. Required Solve for items "a" through "h." Variable overhead Actual Standard hours/unit Actual hours (total) 6,100 Standard rate/hour $36.00 Actual rate 537.80 Flexible budget $90,000 $60.000 Labor rate or variable overhead spending variance c. 5...
1. Compute the direct material, direct labor and variable overhead variances. S 5 ? - X X] H FILE Basic variance analysis for direct materials, direct labor and variable overhead - Excel INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW HOME Sign In * Calibri Calibri 111 A A = % V รถ Paste B I U - A ont Number Conditional Format as Cell Alignment Number Formatting Table Styles - Cells Editing Clipboard B Font x Styles 41 : fc...
Problem 21-3A Flexible budget preparation; computation of materials, labor, and overhead variances; and overhead variance report LO P1, P2, P3, C2 [The following information applies to the questions displayed below.] Problem 21-3A Flexible budget preparation; computation of materials, labor, and overhead variances; and overhead variance report LO P1, P2, P3, C2 [The following information applies to the questions displayed below.) Antuan Company set the following standard costs for one unit of its product. Direct materials (3.0 Ibs. @ $6.00 per...
Material, Labor, and Variable Overhead Variances The following summarized manufacturing data relate to Kiosse Corporation's May operations, during which 2,000 finished units of product were produced. Normal monthly capacity is 1,100 direct labor hours. Standard Units Costs Total Actual Costs $13,640 Direct material Standard (3 lb. @ $2.00/lb.) Actual (6,200 lb. @ $2.20/lb.) Direct labor Standard (0.5 hr. @ $14/hr.) Actual (980 hrs. @ $13.70/hr.) Variable overhead Standard (0.5 hr. @ $4/hr.) Actual Total 13,426 $15 4,200 $31,266 Assume that...
Material, Labor, and Variable Overhead Variances The following summarized manufacturing data relate to Thomas Corporation's April operations, during which 2,000 finished units of product were produced. Normal monthly capacity is 1,100 direct labor hours. Standard Units Costs Total Actual Costs Direct material Standard (2 lb. @ $18.00/lb.) $36 Actual (4,200 lb. @ $19/lb.) $79,800 Direct labor Standard (0.5 hr. @ $33/hr.) $16.50 Actual (950 hrs. @ $32.20/hr.) 30,590 Variable overhead Standard (0.5 hr. @ $15/hr.) $7.50 Actual 15,450 Total $60...
Use the information above to compute direct labor and direct materials variances. Variable product costs are broken down into DM, DL, and VMOH. Actual Spending Variance U or F lexible Activity Variance U or F Budget Investigate? 11,000 Units 10,500 10,500 10,500 430,500 420,000 20,000) U 440,000 Sales 3% No ariable Expenses 339,297 34,125 373422 57,078 336,000 16,000) 31,500 1500) F 367,500 17500) F 1% No 8% Yes 2% No 9% Yes Variable COGS 352,000 $33,000 $ 385,000 $ 55,000...
Material, Labor, and Variable Overhead Variances The following summarized manufacturing data relate to Thomas Corporation's April operations, during which 2,000 finished units of product were produced. Normal monthly capacity is 1,100 direct labor hours. Standard Units Costs Total Actual Costs $38 $83,160 $17 Direct material Standard (2 lb. @ $19.00/lb.) Actual (4,200 lb. @ $19.80/lb.) Direct labor Standard (0.5 hr. @ $34/hr.) Actual (950 hrs. @ $33.00/hr.) Variable overhead Standard (0.5 hr. @ $16/hr.) Actual Total 31,350 $8 16,450 $130,960...
Material, Labor, and Variable Overhead Variances The following summarized manufacturing data relate to Kiosse Corporation's May operations, during which 2,000 finished units of product were produced. Normal monthly capacity is 1,100 direct labor hours. Standard Units Costs Total Actual Costs Direct material $6 Standard (3 lb. @ $2.00/lb.) Actual (6,200 lb. @ $2.20/lb.) Direct labor $13,640 $7 Standard (0.5 hr. @ $14/hr.) Actual (980 hrs. @ $13.70/hr.) Variable overhead 13,426 Standard (0.5 hr. @ $4/hr.) Actual 4,200 $31,266 Total $15...
E9-11 Calculating Variable Manufacturing Overhead Variances [LO 9-5] Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of direct labor hours. Information from LLL's standard cost card follows: Standard Quantity 0.6 Standard Rate $0.80 Standard Unit Cost $0.48 Variable manufacturing overhead During August, LLL had the following actual results: Units produced and sold Actual variable overhead Actual direct labor hours $ 26,000 9,560 16,700 Required: Compute LLL's variable overhead rate variance, variable overhead efficiency variance, and...
E9-11 Calculating Variable Manufacturing Overhead Variances [LO 9-5] Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of direct labor hours. Information from LLL's standard cost card follows: Standard Quantity 0.6 Standard Rate $0.80 Standard Unit Cost $0.48 Variable manufacturing overhead During August, LLL had the following actual results: Units produced and sold Actual variable overhead Actual direct labor hours 24,100 9,400 15,100 Required: Compute LLL's variable overhead rate variance, variable overhead efficiency variance, and over-...