Direct material price variance = (standard rate - actual rate)* actual units
= (1.55 - 1.40)*1250000 = $187500 Favorable
Direct material quantity variance = (200000*6 - 1250000)*1.55= $77500 Unfavorable
Direct labor rate variance = (standard rate - actual rate)* actual hours
= (13-14.50)*4000 = $6000 Unfavorable
Direct labor efficiency variance = (200000*0.023 - 4000)*13 = $7800 Favorable
1. Compute the price and quantity variances for direct materials. Compute the rate and efficiency variances...
Grand Guard, which used a standard cost accounting system, manufactured 130.000 boat fenders during the year using 1.130 000 eet of extruded vinyl purchased at $1.50 per foot. Production required 4,000 direct labor hours that cost $15.50 per hour. The materials standard was 6 feet of vinyl per fender at a standard cost of $150 per foot. The labor standard was 0.025 direct labor hour per fender at a standard cost of $14.50 per hour Read More Requirement 1. Compute...
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All-Star Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018, using 146,000 square feet of extruded vinyl purchased at $1.10 per square foot. Production required 440 direct labor hours that cost $13.50 per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $1.15 per square foot. The labor standard was 0.027 direct labor hour per fender, at a standard cost of $12.50 per hour. Read the requirement...
Best Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018, using 145,000 square feet of extruded vinyl purchased at $1.15 per square foot. Production required 460 direct labor hours that cost $13.50 per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $1.20 per square foot. The labor standard was 0.025 direct labor hour per fender, at a standard cost of $12.50 per hour. Read the requirement....
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E23-19 (similar to) Question Help Deluxe Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018, using 146,000 square feet of extruded vinyl purchased at $1.10 per square foot. Production required 450 direct labor hours that cost 512 50 per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $1.15 per square foot. The labor standard was 0.027 dired labor hour per fender, at a standard cost of...
Deluxe Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018, using 142,000 square feet of extruded vinyl purchased at $1.55 per square foot. Production required 440 direct labor hours that cost $16.50 per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $1.60 per square foot. The labor standard was 0.025 direct labor hour per fender, at a standard cost of $15.50 per hour. Read the requirement....