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Hi! Can I please have help with the ones I got wrong? Thank you!

Landers Company manufactures a number of products. The standards relating to one of these products are shown below, along witc. Variable overhead efficiency and rate variances. (Input all amounts as positive values. Leave no cells blank - be certain

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Answer #1

Solution 1a:

Material price variance = (SP - AP) * AQ = (3 -3.20) * (15000*1.55) = $4,650 U

Material quantity variance = (SQ - AQ) * SP = (15000*1.60 - 15000*1.55) * 3 = $2,250 F

Solution 1b:

Direct labor rate variance = (SR - AR) * AH = ($17 - $16.40) * (15000*0.65) = $5,850 F

Direct labor efficiency variance = (SH - AH) * SR = (15000*0.60 - 15000*0.65) * $17 = $12,750 U

Solution 1c:

Variable overhead rate variance = (SR - AR) * AH = ($4- $3.60) * (15000*0.65) = $3,900 F

Variable overhead efficiency variance = (SH - AH) * SR = (15000*0.60 - 15000*0.65) * $4 = $3,000 U

solution 2:

Statement showing Excess unit cost traceable to variance - Landers Company
Variance
Materials:
Price Variance $0.31 U
Quantity Variance $0.15 F $0.16 U
Labor:
Rate variance $0.39 F
Efficiency variance $0.85 U -$0.46 F
Variable overhead:
Rate variance $0.26 F
Efficiency variance $0.20 U $0.06 F
Excess of actual cost over standard cost per unit $0.56 U

Solution 3:

Statement showing Excess unit cost traceable to variance
Variance
Excess of actual over standard cost per unit $0.56 U
Less: Portion attributable to labor efficiency:
Labor Efficiency variance $0.85 U
Variable overhead Efficiency variance $0.20 U $1.05 U
Portion due to other variances $0.49 F
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