Question

All three pictures are one question and related ? Thank you

Instructions: Read the Problem Data and complete the calculations section. Enter data in the blue cells and formulas in the yellow cells. Gray cells require no entry. Problem Data XYZ Co. manufactures two products, Product A and Product B. Both products require Material 1 and Material 2. Plant information regarding standards follows. Standard per Case of product Std price per unit Product A Product B Material 1 (lbs) $ 7.15 10 9 $ 2.00 15 18 Material 2 (lbs) std labor quantity (hrs) Std labor rates p/hr 0.50 0.75 $ 20.00 $ 20.00 At the end of the year, ABC had the following actual results. There were no beginning or ending inventories for either Materials 1 or 2. Actuals per product Actual Production (cases) Actual Labor rate Actual Hours used Product A 5,250 20.42 $ 2,660 Product B 10,200 19.80 7,550 $ $ Actual price per Ib Actual Ibs purchased & used Material 1 7.21 $ 145,000 Material 2 1.98 261,200

Answer 1

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direct Material Material I Material 2 Total Rice Variance: Actual Price Standard Price Variance X Actual Quantity on Price Variance. favourable or (Unfavourable 7.21 it 1.98 2400 0.06 (0.02) 1,45,000 261,200 8,700 (5224) 3476 Actual Quantity 700 7.15 2.00 F U F Quantity Variance 1,45,000 2,61,200 Standard Quantity 1,44,300 2,62,350 Variance X Standard Price An Quantity Vervance. soas 2,200 2705 Favourable f(untaveusable) Total direct Material Variance 6,181 Favourable/ (unforourable blanking Calgulations Standard Quantity of Material I Product A Product B Cases 5,250 10,200 Standard Price (lbs) 52500 91,000 1,44300 So of Material 2 Cases 5,250 10,200 Standard frice (lbs) 15 78,750 1,83,600 . Total ܘܐ . 262350

(2) Direct Labour Product A Bodyt B Total 20.00 20:42 20.00 0.42 2660 L.17.20 20.00 Price Variance : Actual Rate 19.00 Standard Rate. Variance (0.2) & Actual Hours 7,550 Al hate Verence lis 1000_392.80 Favouable/ Lintavourable F Time Variance & Actual Time 2,660 7,550 Standard Time 2,625 7,650 Variance 35 (100) LX Standard hate 20.00 DL Time Variance 700 12000 (300) Favouwble /untvoutable) F (0) La Total Direct Labour Variance 1,692.62 Favourable, lentavourable) U Working Calculations Standard Time of Product A Caser X Sto Labour Quantity (hors) 5250 x0,50 2,625 Standard Time of Product B 10200 X 0.75 | 7,650 . .