Question

PLease answer all queations ASAP! wil rate

1.

Georgia, Inc. has collected the following data on one of its products. The actual cost of the direct materials used is:

Direct materials standard (3 lbs @ $2/lb)	$6	per finished unit
Total direct materials cost variance—unfavorable	$14,250
Actual direct materials used	100,000	lbs.
Actual finished units produced	25,000	units

Multiple Choice

• $135,750.

• $164,250.

• $150,000.

• $182,000.

• $100,000.

• 2.

  Use the following data to find the total direct labor cost variance if the company produced 3,500 units during the period.
  

  Direct labor standard (4.00 hrs. @ $7.10/hr.)	$	28.40	per unit
  Actual hours worked		11,900
  Actual rate per hour	$	7.70

  Multiple Choice

• $8,400 unfavorable.

• $7,770 favorable.

• $11,900 favorable.

• $7,770 unfavorable.

• $8,400 favorable

• 3.

  Grant Co. uses the following standard to produce a single unit of its product: Variable overhead (1.60 hrs. per unit @ $3.70/hr.) Actual data for the month show total variable overhead costs of $138,640, and 22,000 units produced. The total variable overhead variance is:

  Multiple Choice

• $8,400F.

• $8,400U.

• $62,400U.

• $62,400F.

• $0.

• 4.

  The following information relating to a company's overhead costs is available.

  Actual total variable overhead	$	100,000
  Actual total fixed overhead	$	19,000
  Budgeted variable overhead rate per machine hour	$	3.00
  Budgeted total fixed overhead	$	15,000
  Budgeted machine hours allowed for actual output		37,000

  
  Based on this information, the total variable overhead variance is:

  Multiple Choice

• $11,000 favorable.

• $5,000 favorable.

• $11,000 unfavorable.

• $5,000 unfavorable.

• $4,459 favorable

• 5.

  Sanchez Company's output for the current period was assigned a $434,000 standard direct labor cost. The direct labor variances included a $10,850 unfavorable direct labor rate variance and a $4,340 favorable direct labor efficiency variance. What is the actual total direct labor cost for the current period?

  Multiple Choice

• $418,810.

• $449,190.

• $444,850.

• $440,510.

• $427,490.

Answer 1

Answer 1-

Total unit produced =25000

Standard cost/unit =$6

Total standard cost= 150000

Add unfavorable variance = 14250

Actual cost of direct material used= 164250

Answer 2-

Actual direct labor cost=

Actual Hours worked×Actual rate per hour

= 11900×7.7= 91630

Standard direct labor= 28.40×3500 =99400

If actual is less than standard than variance is favorable

Hence 99400-91630= 7700 favorable

Answer 3-

Standard per unit variable overhead= 1.6×3.7=5.92

Total production= 22000,

Standard variable overhead = 5.92×22000=130240

Actual variable overhead= 138640

Standard- Actual

= 130240-138640

=8400 Unfavorable

Answer 4-

Total standard variable cost = Budgeted hour rate × Budgeted hours

= 3 × 37000 = 111000

Actual variable cost = 100000

Total variable overhead variance = Budgeted - Actual

=111000 - 100000

=11000 favorable

Answer 5-

Standard direct labour cost = 434000

Less Direct labour variances = 10850

Add Direct labour rate variance = 4340

Actual total direct labour cost = 434000 - 10850 + 4340

= 427490

Note: All the answers are in Dollar($) only.