a. | Direct materials price variance | $ -22,180 | Favorable |
AQ x (AR - SR) = 221800 x ($5.10 - $5.20) = $-22180 | |||
Direct materials quantity variance | $ -11,440 | Favorable | |
SR x (AQ - SQ) = $5.20 x (221800 - 224000) = $-11440 | |||
Total direct materials cost variance | $ -33,620 | Favorable | |
b. | Direct labor rate variance | $ 5,370 | Unfavorable |
AH x (AR - SR) = 17900 x ($18.20 - $17.90) = $5370 | |||
Direct labor time variance | $ 7,160 | Unfavorable | |
SR x (AH - SH) = $17.90 x (17900 - 17500) = $7160 | |||
Total direct labor cost variance | $ 12,530 | Unfavorable | |
c. | Variable factory overhead controllable variance | $ -770 | Favorable |
Actual variable overhead - (Budgeted hours x SR) | |||
$76230 - (17500 x $4.40) = $76230 - $77000 = $-770 | |||
Fixed factory overhead volume variance | $ 5,320 | Unfavorable | |
Fixed overhead rate x (Normal hours - SH) | |||
$7.00 x (18260 - 17500) = $5320 | |||
Total factory overhead cost variance | $ 4,550 | Unfavorable |
Chapters Direct Materials Direct Labor and Factory Overhead Cost Variance Analysis Machine in Standard costs and...
Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 5,200 units of product were as follows: Standard Costs Actual Costs Direct materials 6,800 lb. at $4.60 6,700 lb. at $4.40 Direct labor 1,300 hrs. at $18.10 1,330 hrs. at $18.50 Factory overhead Rates per direct labor hr., based on 100% of normal capacity...
1. PR.22-03A.ALGO (Algorithmic) Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 70,000 units of product were as follows: Standard Costs Actual Costs Direct materials 224,000 lbs. at $4.90 221,800 lbs. at $4.70 Direct labor 1 7,500 hrs. at $16.20 17,900 hrs. at $16.60 Factory overhead Rates per direct labor hr., based on...
Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 40,000 units of product were as follows: Standard Costs Actual Costs Direct materials 120,000 lbs. at $3.20 per lb. 118,500 lbs. at $3.25 per ib. Direct labor 12,000 hrs. at $24.40 per hr. 11,700 hrs. at $25.00 per hr. Factory overhead Rates per direct...
Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical into plastic. Standard cests and actual costs for direct materials, direct labor, and factory overhead inoumed for the manufacture of 7,600 units of product were as fullows Standard Costs Actual Conts Direct materials 9,900 lb, at $5.70 9,800 at $5.60 Direct laber 1,900 hrs at $16.70 1,940 hes. at $16.90 Rates per direct labor he Factory overhead based on 100% of normal capadity of...
Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Eastern Polymers, Inc., processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 4,800 units of product were as follows: Standard Costs Actual Costs Direct materials 6,200 lbs. at $4.6 6,100 lbs. at $4.5 Direct labor 1,200 hrs. at $18 1,230 hrs. at $18.3 Factory overhead Rates per direct labor hr., based on 100% of normal...
Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 4,800 units of product were as follows: Actual Costs 6,100 lb. at $5.60 1,230 hrs. at $18.60 Standard Costs Direct materials 6,200 lb. at $5.80 Direct labor 1,200 hrs. at $18.20 Factory overhead Rates per direct labor hr., based on 100% of normal capacity...
Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufactu of 6,800 units of product were as follows: Standard Costs Actual Costs Direct materials 8,800 lb. at $4.80 8,700 lb. at $4.70 1,700 hrs. at $16.10 1,740 hrs. at $16.50 Direct labor Factory overhead Rates per direct labor hr., based on 100% of normal capacity...
Direct Materials and Direct Labor, Variance Analysis; Factory Overhead Cost Variance Analysis Route 66 Tire Co. manufactures automobile tires. Standard costs and actual costs for direct materials, direct labor, and factory overhead Incurred for the manufacture of 7,200 tires were as follows: Standard Costs Actual Costs Direct materials 9,400 lbs. at $5.50 9,300 lbs. at $5.40 Direct labor 1,800 hrs. at $17.60 1,840 hrs. at $17.90 Factory overhead Rates per direct labor hr. based on 100% of normal capacity of...
Direct Materials and Direct Labor, Variance Analysis; Factory Overhead Cost Variance Analysis Route 66 Tire Co. manufactures automobile tires. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 7,200 tires were as follows: Standard Costs Actual Costs 9,300 lbs. at $5.40 Direct materials 9,400 lbs. at $5.50 1,800 hrs. at $17.60 1,840 hrs. at $17.90 Direct labor Factory overhead Rates per direct labor hr., based on 100% of normal capacity of...
Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 7,600 units of product were as follows: Standard Costs Actual Costs Direct materials 9,900 lb. at $4.90 9,800 lb. at $4.70 Direct labor 1,900 hrs. at $16.40 1,940 hrs. at $16.70 Factory overhead Rates per direct labor hr., based on 100% of normal capacity...