Material Price Variance = (Standard Price – Actual Price)*Actual Quantity
= (4-4.4)*17500*1.85
= $12,950 U
Material Quantity Variance = (Standard Quantity – Actual Quantity)*Standard Price
= (1.90-1.85)*17,500*4
= $3500 F
b.Labor Rate variance = (Standard Rate – Actual Rate)*Actual Hours
= (16-15.40)*1.15*17500
= $12,075 F
Efficiency = (Standard Hours – Actual Hours)*Standard Rate
= (1.10-1.15)*17,500*16
= $14,000 U
c.Variable overhead Rate Variance = (Standard Rate – Actual Rate)*Actual Hours
=(9-8.6)*17,500*1.15
= $8050 F
Efficiency = (1.10-1.15)*17500*9
= $7875 U
2.Direct Material Price = 12950/17500 = $0.74 U
Quantity = $0.2 F
Total = 0.54 U
Labor Rate = 0.69 F
Efficiency = 0.8 U
Total = 0.11 U
Variable overhead Rate = 0.46 F
Efficiency= 0.45 U
Total = 0.01 F
3.
Excess of actual over standard = 0.64
portion due to inefficiency
Labor efficiency variance = 0.8 U
Variable overhead efficiency variance = 0.45 U
Total = 1.25 U
Portion due to other variances = 0.61 F
Koontz Company manufactures a number of products. The standards relating to one of these products are...
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May. Standard Cost per Unit Actual Cost per Unit $ 3.60 $ 3.85 18.00 18.43 Direct materials Standard: 1.80 feet at $2.00 per foot Actual: 1.75 feet at $2.20 per foot Direct labor. Standard: 0.90 hours at $20.00 per hour Actual: 0.95 hours at $19.40 per hour Variable overhead: Standard: 0.90 hours at $6.40 per hour...
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May. Standard Cost per Unit Actual cost per $ 8.36 $8.88 17.10 17.50 Direct materials Standardi 1.90 feet at $4.40 per foot Actual 1.85 feet at $4.80 per foot Direct labor Standardi 0.95 hours at $18.00 per hour Actual 1.00 hours at $17.50 per hour Variable overhead: Standard: 0.95 hours at $6.00 per hour Actual: 1.00...
0 Saved Help Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May. Standard Cost per Unit Actual Cost per $ 4.20 12.60 Direct materials: Standard: 1.80 feet at $2.20 per foot Actual 1.75 feet at $2.40 per foot Direct labor! Standard: 0.90 hours at $14.00 per hour Actualı 0.95 hours at $13.40 per hour Variable overhead: Standard: 0.90 hours at $5.00 per hour Actualt...
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May Standard Cost per Unit Actual Cost per Unit Direct materials $ 5.40 Standard: 1.80 feet at $3.00 per foot Actual: 1.80 feet at $3.30 per foot $ 5.94 Direct labor 16.20 Standard: 0.90 hours at $18.00 per hour Actual: 0.92 hours at $17.50 per hour 16.10 Variable overhead 4.50 Standard: 0.90 hours at $5.00 per...
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for Mav Actual Cost per Unit Standard Cost per Unit Direct materials: Standard: 1.80 feet at $3.00 per foot Actual: 1.80 feet at $3.30 per foot $5.40 5.94 Direct labor Standard: e.90 hours at $18.00 per hour Actual: 0.92 hours at $17.50 per hour 16.20 16.10 Variable overhead: Standard : 0.98 hours at $5.00 per hour Actual:...
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May. Standard Cost per Unit Actual Cost per Unit $ 3.60 $ 3.85 18.00 Direct materials: Standard: 1.80 feet at $2.00 per foot Actual: 1.75 feet at $2.20 per foot Direct labor: Standard: 0.90 hours at $20.00 per hour Actual: 0.95 hours at $19.40 per hour Variable overhead: Standard: 0.90 hours at $6.40 per hour Actual:...
correct answers only please!
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May. Actual Standard Cost per Unit Cost per Unit Direct materials: Standard: 1.90 feet at $4.60 per foot Actual: 1.85 feet at $5.00 per foot Direct labor: S 8.74 $9.25 Standard: 0.95 hours at $19.00 per hour Actual: 1.00 hours at $18.50 per hour Variable overhead: 18.05 18.50 Standard: 0.95 hours at...
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May Standard Cost per Unit Actual Cost per Unit $ 5.40 $ 5.94 16.20 Direct materials: Standard: 1.80 feet at $3.00 per foot Actual: 1.80 feet at $3.30 per foot Direct labor: Standard: 0.90 hours at $18.00 per hour Actual: 0.92 hours at $17.50 per hour Variable overhead: Standard: 0.90 hours at $5.00 per hour Actual:...
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May. Standard Cost per Unit Actual Cost per Unit Direct materials: Standard: 1.90 feet at $4.00 per foot $ 7.60 Actual: 1.85 feet at $4.40 per foot $ 8.14 Direct labor: Standard: 1.10 hours at $16.00 per hour 17.60 Actual: 1.15 hours at $15.40 per hour 17.71 Variable overhead: Standard: 1.10 hours at $9.00 per hour...
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May. Standard Cost per Unit Actual Cost per Unit $ 8.74 $ 9.25 18.05 18.50 Direct materials: Standard: 1.90 feet at $4.60 per foot Actual: 1.85 feet at $5.00 per foot Direct labor: Standard: 0.95 hours at $19.00 per hour Actual: 1.00 hours at $18.50 per hour Variable overhead: Standard: 0.95 hours at $7.00 per hour...