Homework Answers
| Req-1(A)Computation of Material Price & Quanntity Variance |
|
Material price variance = (SP - AP) * AQ purchased ' = ($25 - $23.50) * 12000 = $18000 F |
|
Material quantity variance = (SQ - AQ Used ) * SP ' = (9020 Ounce - 9250 Ounce ) * $25 = $5750 U |
| Refrence |
| Standard qty of material = 4100 Units *2.2 Ounces= 9020 ounce |
| Actual quantity of material purchased = 12000 ounce |
| Actual quantity of material used = 12000 - 2750 = 9250 ounce |
| Standard price of material = $25 per ounce |
| Actual price of material = $282,000 / 12000 = $23.50 |
| Req-1(B),Yes , Company should signed a contract because , Material Price variance shows favourable which shows that actual material procurement price is lesser than Standard Price. |
| Solution 2a: |
| Refrence |
| Standard hours of direct labor = 4100 Unit *0.50 Hour = 2050 hours |
| Standard rate of direct labor = $15 per hour |
| Actual hours of direct labor = 25 Technician *110 Hour = 2750 hours |
| Actual rate of direct labor = $11.50 per hour |
| Req-2(a) Labour Rate & Efficiency Variance |
|
Direct labor rate variance = (SR - AR) * AH = ($15 - $11.50) * 2750 Hour = $9625 F |
|
Direct labor efficiency variance = (SH - AH) * SR = (2050 - 2750) * $15= $10500 U |
| Req:2(b)NO, New labor mix should not be continued because Employing more assistant rather senior technician resulted in favorable direct labor rate variance but unfavorable laor efficiency variance. Further unfavorable efficiency variance is higher than favorable rate variance, |
| Req-3 Variable OH Rate & Efficiency Variance |
|
Variable overhead rate variance = (SR - AR) * AH = ($3 - $0.87) *2750 = $5857.50 F |
|
Variable overhead efficiency variance = (SH - AH) *
SR = (2050 - 2750) * $3 = $2100 U |
| Refrence |
| Standard hours of direct labor = 4100 Unit *0.50 Hour = 2050 hours |
| Standard rate of variable overhead= $3 per hour |
| Actual hours of direct labor = 25 Technician *110 Hour = 2750 hours |
| Actual rate of variable overhead = $2400 / 2750 = $0.87 |
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Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, called Fludex, is prepared...
Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, called Fludex, is prepared...
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: Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard Quantity or Hours 2.20 ounces 0.50 hours 0.50 hours Standard Price or Rate $25.00 per ounce $15.00 per hour $ 3.00 per hour Standard Cost $55.00 7.50 1.50 $64.00 During November, the following...
Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, called Fludex, is pr...
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: Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard Quantity or Hours 2.30 ounces 0.50 hours 0.50 hours Standard Price or Rate $26.00 per ounce $14.00 per hour $ 3.40 per hour Standard Cost $59.80 7.00 1.70 $68.50 During November, the following...
Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, called Fludex, is prepared...
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 Standard or Hours or Rate Cost Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit 2.40 ounces 0.70 hours 0.70 hours 18.00 per ounce $43.20 9.80 s 3.00 per hour 0 14.00 per hour 2.10 $55.10 During November, the...
Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, called Fludex, is prepared...
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: Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard Quantity or Hours 2.30 ounces 0.80 hours 0.80 hours Standard Price or Rate $24.00 per ounce $15.00 per hour $ 3.50 per hour Standard Cost $55.20 12.00 2.80 $70.00 During November, the following...
Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, called Fludex, is prepared...
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: Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard Quantity or Hours 2.68 ounces 0.60 hours 0.60 hours Standard Price or Rate $29.00 per ounce $12.00 per hour $ 3.50 per hour Standard Cost $75.40 7.29 2.10 $84.70 During November, the following...
Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, called Fludex, is prepared...
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 2.30 ounces 0.60 hours 0.60 hours Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard Price Or Rate $17.00 per ounce $13.00 per hour $ 2.50 per hour Standard Cost $39.10 7.80 1.50 $48.40 During November, the following...
Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, called Fludex, is prepared...
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 Standard or Hours or Rate Cost Direct materials 2.00 ounces $30.00 per ounce $ 60.00 Direct labor 0.50 hours $14.00 per hour 7.00 Variable manufacturing overhead 0.50 hours $ 3.40 per hour 1.70 Total standard cost per unit $68.70 During November, the...
Becton Labs, Inc. produces various chemical compounds for Industrial use. One compound, called Fludex, is prepared...
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 Standard or Hours or Rate Cost Direct materials 2.00 ounces $21.00 per ounce $42.00 Direct labor 0.90 hours $12.00 per hour 10.80 Variable manufacturing overhead 0.90 hours $ 2.00 per hour 1.80 Totat standard cost per unit $54.60 During November, the following...
Becton Labs, Inc.. produces various chemical compounds for industrial use. One compound, called Fludex, is prepared...
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: Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard Quantity or Hours 2.60 ounces 0.60 hours 0.60 hours Standard Price or Rate $20.00 per ounce $16.00 per hour 4.50 per hour Standard Cost $52.00 9.60 2.70 $64.30 During November, the following activity...
Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, called Fludex, is prepared...
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: Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard Quantity or Hours 2.40 ounces 0.70 hours 0.70 hours Standard Price or Rate $18.00 per ounce $14.00 per hour $ 3.00 per hour Standar Cost $43.20 9.80 - 2.10 $55.10 During November, the...
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: Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard Quantity or Hours 2.20 ounces 0.50 hours 0.50 hours Standard Price or Rate $25.00 per ounce $15.00 per hour $ 3.00 per hour Standard Cost $55.00 7.50 1.50 $64.00 During November, the following...
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: Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard Quantity or Hours 2.30 ounces 0.50 hours 0.50 hours Standard Price or Rate $26.00 per ounce $14.00 per hour $ 3.40 per hour Standard Cost $59.80 7.00 1.70 $68.50 During November, the following...
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 Standard or Hours or Rate Cost Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit 2.40 ounces 0.70 hours 0.70 hours 18.00 per ounce $43.20 9.80 s 3.00 per hour 0 14.00 per hour 2.10 $55.10 During November, the...
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: Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard Quantity or Hours 2.30 ounces 0.80 hours 0.80 hours Standard Price or Rate $24.00 per ounce $15.00 per hour $ 3.50 per hour Standard Cost $55.20 12.00 2.80 $70.00 During November, the following...
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: Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard Quantity or Hours 2.68 ounces 0.60 hours 0.60 hours Standard Price or Rate $29.00 per ounce $12.00 per hour $ 3.50 per hour Standard Cost $75.40 7.29 2.10 $84.70 During November, the following...
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 2.30 ounces 0.60 hours 0.60 hours Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard Price Or Rate $17.00 per ounce $13.00 per hour $ 2.50 per hour Standard Cost $39.10 7.80 1.50 $48.40 During November, the following...
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 Standard or Hours or Rate Cost Direct materials 2.00 ounces $30.00 per ounce $ 60.00 Direct labor 0.50 hours $14.00 per hour 7.00 Variable manufacturing overhead 0.50 hours $ 3.40 per hour 1.70 Total standard cost per unit $68.70 During November, the...
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 Standard or Hours or Rate Cost Direct materials 2.00 ounces $21.00 per ounce $42.00 Direct labor 0.90 hours $12.00 per hour 10.80 Variable manufacturing overhead 0.90 hours $ 2.00 per hour 1.80 Totat standard cost per unit $54.60 During November, the following...
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: Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard Quantity or Hours 2.60 ounces 0.60 hours 0.60 hours Standard Price or Rate $20.00 per ounce $16.00 per hour 4.50 per hour Standard Cost $52.00 9.60 2.70 $64.30 During November, the following activity...
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: Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard Quantity or Hours 2.40 ounces 0.70 hours 0.70 hours Standard Price or Rate $18.00 per ounce $14.00 per hour $ 3.00 per hour Standar Cost $43.20 9.80 - 2.10 $55.10 During November, the...
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