Note:
• The material price variance is favourable because the actual price is less than the estimated/standard price.
• The material quantity variance is an unfavourable variance because the actual quantity used is more than the standard quantity for produce 8200 units
• Total direct material variance
= Standard cost - Actual cost
= $492,000 - $478,800
= $13,200(Favourable)
Note:
• The direct labor rate variance is an unfavourable variance because the actual rate is more than the budgeted/standard rate.
• The direct labor effeciency variance is an unfavourable variance because the actual hrs worked is more the standard hours .
• Total direct labor variance
= Standard cost - Actual cost
= $369,000 - $422,800
= $53,800 (unfavourable)
Hutto Corp, has set the following standard direct materials and direct labor costs per unit for...
Hutto Corp, has set the following standard direct materials and direct labor costs per unit for the product it manufactures, $70 Direct materials (14 lbs. @ $5 per lb.) Direct labor (4 hrs. @ $15 per hr.) During May the company incurred the following actual costs to produce 8,600 units. Direct materials (123,700 lbs. @ $4.88 per lb.) Direct labor (37,500 hrs. @ $15.10 per hr.). $593,760 566,250 AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price...
Hutto Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures Direct materials (15 lbs. $4 per lb.) Direct labor (2 hrs. $15 per hr.) During May the company incurred the following actual costs to produce 8,300 units. Direct materials (128, 400 lbs. $3.50 per lb.) Direct labor (21,100 hrs. @ $15.10 per hr.). $487.920 318.610 AH - Actual Hours SH - Standard Hours AR = Actual Rate SR = Standard...
Hutto Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures. Direct materials (15 lbs. @ $4 per lb.) $60 Direct labor (3 hrs. @ $15 per hr.) 45 During May the company incurred the following actual costs to produce 8,300 units. Direct materials (128,000 lbs. @ $3.80 per lb.) $ 486,400 Direct labor (29,400 hrs. @ $15.10 per hr.). 443,940 AH = Actual Hours SH = Standard Hours AR =...
Hutto Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures. Direct materials (15 lbs. $4 per lb.) Direct labor ( hrs. $15 per hr.) Sosis 15.) 588 points During May the company incurred the following actual costs to produce 9,000 units. Direct materiale 18.000 lbs. ).75 per 1.) Direct labor 31.000 hrs. 515.10 per hr.). $517.500 468,100 AQ - Actual Quantity SQ - Standard Quantity AP Actual Price SP Standard...
Hutto Corp, has set the following standard direct materials and direct labor costs per unit for the product it manufactures. Direct materials (15 lbs. $5 per lb.) Direct labor (3 hrs. $14 per hr.) During May the company incurred the following actual costs to produce 8,900 units. Direct materials (136,200 lbs. $4.80 per lb.) Direct labor (29,900 hrs. $14.10 per hr.). $653,760 421,590 AQ - Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price AH-Actual...
Hutto Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures. Direct materials (15 lbs. @ $4 per lb.) Direct labor (3 hrs. @ $16 per hr.) $60 48 During May the company incurred the following actual costs to produce 8,300 units. Direct materials (126,700 lbs. @ $3.80 per lb.) Direct labor (28,500 hrs. @ $16.10 per hr.). $481,460 458,850 AQ = Actual Quantity SQ = Standard Quantity AP = Actual...
Reed Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures. Direct materials (16 lbs. @ $5 per lb.) $80 Direct labor (4 hrs. @ $15 per hr.) $60 During June the company incurred the following actual costs to produce 9,000 units. Direct materials (146,700 lbs. @ $4.75 per lb.) $696,825 Direct labor (40,300 hrs. @ $15.10 per hr.). $608,530 AH = Actual Hours SH = Standard Hours AR = Actual...
Reed Corp, has set the following standard direct materials and direct labor costs per unit for the product it manufactures. Direct materials (16 lbs. @ 54 per lb.) Direct labor (4 hrs. $15 per hr.) During June the company incurred the following actual costs to produce 8.400 units Direct materials (136.700 lbs. 33.70 per lb.) Direct labor (37,200 hrs. $15.10 per hr.). $505,790 561, 720 AH = Actual Hours SH Standard Hours AR Actual Rate SR Standard Rate AO -...
Hutto Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures. Direct materials (15 lbs. @ $5 per lb.) Direct labor (3 hrs. $14 per hr.) $75 42 During May the company incurred the following actual costs to produce 8,800 units Direct materials (135,280 lbs. @ $4.80 per 1b.) Direct labor (30,100 hrs. @ $14.10 per hr.). $648,960 424,410 AQ - Actual Quantity SQ - Standard Quantity AP = Actual Price...
Reed Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures. Direct materials (15 lbs. @ $5 per lb.) Direct labor (3 hrs. @ $16 per hr.) $75 48 During June the company incurred the following actual costs to produce 8,800 units. Direct materials (134,200 lbs. @ $4.80 per lb.) Direct labor (30,000 hrs. @ $16.15 per hr.). $644,160 484,500 AH = Actual Hours SH = Standard Hours AR = Actual...