1) | Materials price variance | ||||||||
(Actual price - standard price)*AQ purchased | 45600/12000= | 3.8 | |||||||
(3.8 -4)*12000 | 22.4/5.6= | 4 | |||||||
2400 | F | ||||||||
Material Quantity variance | |||||||||
(actual qty used - std qty allowed)*SR | |||||||||
(12000 - 2000*5.6)*4 | |||||||||
3,200 | U | ||||||||
2) | Direcl labor rate variance | ||||||||
(Actual rate - standard rate )*actul hours | 49000/2800= | 17.5 | |||||||
(17.5-18)*2800 | 51300/2850= | 18 | |||||||
1400 | F | 27/18 | 1.5 | ||||||
direct labor efficiency variance | |||||||||
(Actual hrs - standard hrs allowed)*standard rate | |||||||||
(2800 -2000*1.5)*18 | |||||||||
3,600 | F | ||||||||
3) | Variable overhead rate variance | ||||||||
(Actual rate - standard rate )*actul hours | |||||||||
(7000 -2800*2.4) | 6840/2850= | 2.4 | |||||||
280 | U | ||||||||
Variable overhead Efficiency variance | |||||||||
(Actual hrs - standard hrs allowed)*standard rate | 0 | ||||||||
(2800 -2000*1.5)*2.4 | |||||||||
480 | F | ||||||||
Marvel Parts, Inc., manufactures auto accessories. One of the company's products is a set of seal....
Marvel Parts, Inc., manufactures auto accessories. One of the company's products is a set of seat covers that can be adjusted to fit nearly any small car. The company uses a standard cost system for all of its products. According to the standards that have been set for the seat covers, the factory should work 2,850 hours each month to produce 1,900 sets of covers. The standard costs associated with this level of production are: Total $ 42,560 $ 51,300...
Marvel Parts, Inc., manufactures auto accessories. One of the company's products is a set of seat covers that can be adjusted to fit nearly any small car. The company has a standard cost system in use for all of its products. According to the standards that have been set for the seat covers, the factory should work 2.850 hours each month to produce 1,900 sets of covers. The standard costs associated with this level of production are: Per Set of...
Marvel Parts, Inc., manufactures auto accessories. One of the company’s products is a set of seat covers that can be adjusted to fit nearly any small car. The company uses a standard cost system for all of its products. According to the standards that have been set for the seat covers, the factory should work 2,850 hours each month to produce 1,900 sets of covers. The standard costs associated with this level of production are: Total Per Set of Covers...
Marvel Parts, Inc., manufactures auto accessories. One of the company's products is a set of seat covers that can be adjusted to fit nearly any small car. The company has a standard cost system in use for all of its products. According to the standards that have been set for the seat covers, the factory should work 2,850 hours each month to produce 1,900 sets of covers. The standard costs associated with this level of production are: Per Set of...
Marvel Parts, Inc., manufactures auto accessories. One of the company’s products is a set of seat covers that can be adjusted to fit nearly any small car. The company uses a standard cost system for all of its products. According to the standards that have been set for the seat covers, the factory should work 2,850 hours each month to produce 1,900 sets of covers. The standard costs associated with this level of production are: Total Per Set of Covers...
Marvel Parts, Inc., manufactures auto accessories. One of the company's products is a set of seat covers that can be adjusted to fit nearly any small car. The company has a standard cost system in use for all of its products. According to the standards that have been set for the seat covers, the factory should work 1,010 hours each month to produce 2,020 sets of covers. The standard costs associated with this level of production are: Total $ 36,360...
Marvel Parts, Inc., manufactures auto accessories. One of the company's products is a set of seat covers that can be adjusted to fit nearly any small car. The company has a standard cost system in use for all of its products. According to the standards that have been set for the seat covers, the factory should work 1,010 hours each month to produce 2,020 sets of covers. The standard costs associated with this level of production are: Total $ 36,360...
Marvel Parts, Inc., manufactures auto accessories. One of the company's products is a set of seat covers that can be adjusted to fit nearly any small car. The company has a standard cost system in use for all of its products. According to the standards that have been set for the seat covers, the factory should work 1,010 hours each month to produce 2,020 sets of covers. The standard costs associated with this level of production are: Total $ 36,360...
Marvel Parts, Inc., manufactures auto accessories. One of the company's products is a set of seat covers that can be adjusted to fit nearly any small car. The company has a standard cost system in use for all of its products. According to the standards that have been set for the seat covers, the factory should work 990 hours each month to produce 1,980 sets of covers. The standard costs associated with this level of production are: Per Set Total...
Marvel Parts, Inc., manufactures auto accessories. One of the company's products is a set of seat covers that can be adjusted to fit nearly any small car. The company has a standard cost system in use for all of its products. According to the standards that have been set for the seat covers, the factory should work 990 hours each month to produce 1,980 sets of covers. The standard costs associated with this level of production are: Total $ 45,738...