1) Number of units produced = 772800/38.64 = 20000 Units
2) Material quantity variance = (Standard qty-actual qty)Standard price
-33600 = (20000*2.3*16.80-16.80X)
16.80X = 772800+33600
X(actual qty) = 48000 Pounds
3) Material price variance = (Standard price-actual price)actual quantity
13920 = (16.80*48000-48000X)
48000X = 806400-13920
X(actual price) = 792480/48000 = 16.51
4) Labor efficiency variance = (Standard hour-actual hour)Standard rate
-15800 = (20000*1*15.80-15.80X)
15.80X = 316000+15800
X(actual hour) = 21000 Hour
5) Labor rate variance = (Standard rate-actual rate)actual hour
-4200 = (15.80*21000-21000X)
21000X = 331800+4200
X(actual rate) = 16
6) Variable overhead efficiency variance = (20000-21000)*9.5 = 9500 U
Actual variable overhead = 190000-4200+9500 = 195300
Vitex, Inc, manufactures a popular consumer product and it has provided the following data excerpts from...
Vitex, Inc. manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system: Inputs Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Quantity or Hours 2.20 pounds 1.00 hours 1.00 hours Price Or Rate $16.70 per pound $15.90 per hour $ 9.20 per hour Cost (1) (2) $36.74 $15.90 $ 9.20 $61.84 Direct materials Direct labor Variable manufacturing overhead Total Variances Reported Standard Price Quantity or Cost. Or Rate...
Vitex, Inc. manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system: (2) standard (1) Standard Quantity or Standard Price Cost (1) (2) Inputs Direct naterials Direct labor Variable manufacturing overhead Bours or Rate 2.20 pounds 1.00 hours $16.10 per pound $15.90 per hour $9.30 per hour $35.42 $15.90 S9.30 1.00 hours $60.62 Total standard cost per unit Variances Reported Total Standard Price Quantity or Efficiency $32,200 U $15,900 U Cost or...
Vitex, Inc. manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system: Inputs (1) Standard Quantity or Hours (2) Standard Price or Rate Standard Cost (1) × (2) Direct materials 2.30 pounds $ 17.10 per pound $ 39.33 Direct labor 1.00 hours $ 15.90 per hour $ 15.90 Variable manufacturing overhead 1.00 hours $ 9.30 per hour $ 9.30 Total standard cost per unit $ 64.53 Total Variances Reported Standard Cost* Price...
Vitex, Inc. manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system: Inputs (1) Standard Quantity or Hours (2) Standard Price or Rate Standard Cost (1) × (2) Direct materials 2.10 pounds $ 16.30 per pound $ 34.23 Direct labor 1.00 hours $ 15.80 per hour $ 15.80 Variable manufacturing overhead 1.00 hours $ 9.30 per hour $ 9.30 Total standard cost per unit $ 59.33 Total Variances Reported Standard Cost* Price...
Vitex, Inc. manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system: Sta (2) Standard Price or Rate (1) Standard Quantity or Hours Standard Cost (1) x (2) Inputs $ per $38.64 2.30 pounds 1.00 hours 16.80 pound $15.50 per hour $15.50 Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit 1.00 hours 9.40 per hour $ 9.40 $63.54 Total Variances Reported Standard Price Quantity or Cost* or Rate...
Vitex, Inc. manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system: Inputs (1) Standard Quantity or Hours (2) Standard Price or Rate Standard Cost (1) × (2) Direct materials 2.40 pounds $ 17.10 per pound $ 41.04 Direct labor 1.00 hours $ 15.30 per hour $ 15.30 Variable manufacturing overhead 1.00 hours $ 9.30 per hour $ 9.30 Total standard cost per unit $ 65.64 Total Variances Reported Standard Cost* Price...
Vitex, Inc. manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system: Inputs Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit (1) Standard Quantity or Hours 2.10 pounds 1.00 hours 1.00 hours (2) Standard Price or Rate $16.50 per pound $15.20 per hour 9.20 per hour Standard Cost (1) (2) $34.65 $15.20 $9.20 $59.05 Direct materials Direct labor Variable manufacturing overhead Total Variances Reported Standard Price Quantity or...
Vitex, Inc. manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system: (2) Standard Standard Cost (1) Standard Quantity (1) x (2) Price Inputs or Hours or Rate per 16.80 pound $15.40 per hour $. 36.96 $15.40 Direct materials Direct labor Variable manufacturing 2.20 pounds 1.00 hours 9.10 overhead 1.00 hours 9.10 per hour Total standard cost per $61.46 unit Variances Reported Price Quantity or or Rate Efficiency $33,600 U $15,400 U...
Vitex, Inc. manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system: Inputs (2) Standard Standard Cost (1) Standard Quantity Price (1) x or Hours or Rate (2) per 2.20 pounds 16.70 pound 1.00 hours $15.80 per hour $15.80 1.00 hours * 9.60 per hour $ 9.60 $62.14 Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit $36.74 Total Variances Reported Standard Price Quantity or Cost or Rate Efficiency...
Vitex, Inc. manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system: (1) Standard Quantity or Standard Price or Rate Standard Cost Inputs Direct materials Direct labor Variable manufacturing overhead Hours 2.00 pounds $16.50 per pound 1.00 hours $%15.90 per hour 00 hours 940 per hour S 33.00 S 15.90 S 9.40 S 58.30 Total standard cost per unit TotalVariances Reported StandardPrice Quantity or Costor Rate Efficiency $ 627,000 $ 11,600F S...