A manufactured product has the following information for
June.
| Standard | Actual | |||
| Direct materials | (5 lbs. @ $8 per lb.) | 42,900 | lbs. @ $8.10 per lb. | |
| Direct labor | (3 hrs. @ $16 per hr.) | 25,200 | hrs. @ $16.50 per hr. | |
| Overhead | (3 hrs. @ $11 per hr.) | $ | 287,400 | |
| Units manufactured | 8,500 | |||
 |
||||
Homework Answers
| Actual Cost | Standard cost | |||||||||
| AH | AR | AH*AR | AH | SR | AH*SR | SH | SR | SH*SR | ||
| 25200 | 16.50 | 415800 | 25200 | 16 | 403200 | 25500 | 16 | 408000 | ||
| 12600 | 4800 | |||||||||
| Labor rate variance | 12600 | Unfavorable | ||||||||
| Labor efficiency variance | 4800 | Favorable | ||||||||
| Total labor variance | 7800 | Unfavorable | ||||||||
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A manufactured product has the following information for
June.
Standard
Actual
Direct materials
(5 lbs. @...
A manufactured product has the following information for June. Standard Actual Direct materials (5 lbs. @...
A manufactured product has the following information for
June.
Standard
Actual
Direct materials
(5 lbs. @ $8 per lb.)
42,900
lbs. @ $8.10 per lb.
Direct labor
(3 hrs. @ $16 per hr.)
25,200
hrs. @ $16.50 per hr.
Overhead
(3 hrs. @ $11 per hr.)
$
287,400
Units manufactured
8,500
AQ = Actual Quantity
SQ = Standard Quantity
AP = Actual Price
SP = Standard Price
Compute the direct materials price variance and the direct
materials quantity variance. Indicate...
A manufactured product has the following information for June. Standard Actual Direct materials (7 lbs. @...
A manufactured product has the following information for June. Standard Actual Direct materials (7 lbs. @ $9 per lb.) 56,500 lbs. @ $9.10 per lb. Direct labor (3 hrs. @ $16 per hr.) 23,700 hrs. @ $16.50 per hr. Overhead (3 hrs. @ $11 per hr.) $ 270,100 Units manufactured 8,000 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. AH = Actual Hours SH = Standard Hours AR...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (5 lbs. @ $8 per lb.) (2 hrs. @ $17 per hr.) (2 hrs. @ $13 per hr.) Actual 36,500 lbs. @ $8.10 per lb. 14,200 hrs. @ $17.50 per hr. $193,700 7,200 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. AH - Actual Hours SH - Standard Hours AR -...
The following information applies to the questions displayed below.) A manufactured product has the following information...
The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard 6 lbs. @ $8 per lb. 2 hrs. @ $16 per hr. 2 hrs. @ $12 per hr. Actual 48,500 lbs. @ $8.10 per lb. 15,700 hrs. @ $16.50 per hr. $198,000 8,000 Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting for...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $7 per lb.) (2 hrs. $16 per hr.) (2 hrs. $12 per hr.) Actual 47,200 lbs. @ $7.20 per lb. 15,300 hrs. $16.40 per hr. $ 193,600 7,800 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. AH = Actual Hours SH = Standard Hours AR = Actual Rate...
Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $8 per lb.) (2 hrs....
Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $8 per lb.) (2 hrs. @ $15 per hr.) (2 hrs. @ $12 per hr.) Actual 47,300 lbs. @ $8.10 per lb. 15,300 hrs. @ $15.50 per hr. $192,900 7,800 Exercise 21-10 Direct labor variances LO P2 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. AH = Actual Hours SH = Standard Hours AR = Actual Rate...
Required information The following information applies to the questions displayed below) A manufactured product has the...
Required information The following information applies to the questions displayed below) A manufactured product has the following information for June Standard Direct materials (6 lbs. 58 per lb.) (2 hrs. @ 516 per Direct labor hr.) Overhead (2 hrs. $12 per hr.) Units manufactured Actual lbs. 48, see $8.10 per Ib. 15.20 hrs. $16.50 per 15,700 $198,000 8,000 Compute the direct labor rate variance and the direct labor efficiency variance Indicate whether each variance is favorable or unfavorable AH -...
Required information [The following information applies to the questions displayed below.] A manufactured product has the...
Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June Standard (7 lbs.@ $9 per lb.) (3 hrs. @ $16 per hr.) (3 hrs. @ $12 per hr.) Actual Direct materials Direct labor Overhead Units manufactured 62,000 lbs. @ $9.20 per lb. 26,000 hrs. @ $16.50 per hr. $323,000 8,800 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable....
A manufactured product has the following information for June. Standard Actual Direct materials (6 lbs. @...
A manufactured product has the following information for June. Standard Actual Direct materials (6 lbs. @ $8 per lb.) 48,500 lbs. @ $8.10 per lb. Direct labor (2 hrs. @ $16 per hr.) 15,700 hrs. @ $16.50 per hr. Overhead (2 hrs. @ $12 per hr.) $ 198,000 Units manufactured 8,000 (1) Compute the standard cost per unit. Direct materials Direct labor Overhead Total (2) Compute the total cost variance for June. Indicate whether the cost variance is favorable of...
Required information [The following information applies to the questions displayed below.] A manufactured product has the...
Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard Actual Direct materials (5 lbs. @ $8 per lb.) 42,000 lbs. @ $8.10 per lb. Direct labor (3 hrs. @ $16 per hr.) 24,700 hrs. @ $16.40 per hr. Overhead (3 hrs. @ $12 per hr.) $ 305,300 Units manufactured 8,300 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable...
A manufactured product has the following information for
June.
Standard
Actual
Direct materials
(5 lbs. @ $8 per lb.)
42,900
lbs. @ $8.10 per lb.
Direct labor
(3 hrs. @ $16 per hr.)
25,200
hrs. @ $16.50 per hr.
Overhead
(3 hrs. @ $11 per hr.)
$
287,400
Units manufactured
8,500
AQ = Actual Quantity
SQ = Standard Quantity
AP = Actual Price
SP = Standard Price
Compute the direct materials price variance and the direct
materials quantity variance. Indicate...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (5 lbs. @ $8 per lb.) (2 hrs. @ $17 per hr.) (2 hrs. @ $13 per hr.) Actual 36,500 lbs. @ $8.10 per lb. 14,200 hrs. @ $17.50 per hr. $193,700 7,200 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. AH - Actual Hours SH - Standard Hours AR -...
The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard 6 lbs. @ $8 per lb. 2 hrs. @ $16 per hr. 2 hrs. @ $12 per hr. Actual 48,500 lbs. @ $8.10 per lb. 15,700 hrs. @ $16.50 per hr. $198,000 8,000 Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting for...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $7 per lb.) (2 hrs. $16 per hr.) (2 hrs. $12 per hr.) Actual 47,200 lbs. @ $7.20 per lb. 15,300 hrs. $16.40 per hr. $ 193,600 7,800 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. AH = Actual Hours SH = Standard Hours AR = Actual Rate...
Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $8 per lb.) (2 hrs. @ $15 per hr.) (2 hrs. @ $12 per hr.) Actual 47,300 lbs. @ $8.10 per lb. 15,300 hrs. @ $15.50 per hr. $192,900 7,800 Exercise 21-10 Direct labor variances LO P2 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. AH = Actual Hours SH = Standard Hours AR = Actual Rate...
Required information The following information applies to the questions displayed below) A manufactured product has the following information for June Standard Direct materials (6 lbs. 58 per lb.) (2 hrs. @ 516 per Direct labor hr.) Overhead (2 hrs. $12 per hr.) Units manufactured Actual lbs. 48, see $8.10 per Ib. 15.20 hrs. $16.50 per 15,700 $198,000 8,000 Compute the direct labor rate variance and the direct labor efficiency variance Indicate whether each variance is favorable or unfavorable AH -...
Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June Standard (7 lbs.@ $9 per lb.) (3 hrs. @ $16 per hr.) (3 hrs. @ $12 per hr.) Actual Direct materials Direct labor Overhead Units manufactured 62,000 lbs. @ $9.20 per lb. 26,000 hrs. @ $16.50 per hr. $323,000 8,800 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable....
A manufactured product has the following information for June. Standard Actual Direct materials (6 lbs. @ $8 per lb.) 48,500 lbs. @ $8.10 per lb. Direct labor (2 hrs. @ $16 per hr.) 15,700 hrs. @ $16.50 per hr. Overhead (2 hrs. @ $12 per hr.) $ 198,000 Units manufactured 8,000 (1) Compute the standard cost per unit. Direct materials Direct labor Overhead Total (2) Compute the total cost variance for June. Indicate whether the cost variance is favorable of...
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