During June, Danby Company’s material purchases amounted to
15,190 pounds at a price of $6.00 per pound. Actual costs incurred
in the production of 2,450 units were as follows:
Direct labor: | $ | 78,144 | ($14.80 per hour) |
Direct material: | $ | 75,180 | ($6.00 per pound) |
The standards for one unit of Danby Company’s product are as
follows:
Direct Labor: | Direct Material: |
Quantity, 2 hours per unit | Quantity, 5 pounds per unit |
Rate, $14.50 per hour | Price, $5.80 per pound |
Required:
Fill in the amounts in the tables below.
Direct Material Price & Quantity Variance | |||||||||||||
Actual Material Cost | Projected Material Cost | Standard Material Cost | |||||||||||
Actual Qty | Actual Price | Actual Cost | Actual Qty | Std Price | Projected Cost | Std Qty | STd Price | Std Cost | |||||
12530 | 6 | 75180 | 12530 | 5.8 | 72674 | 12250 | 5.8 | 71050 | |||||
Direct Material Price Variance | 2506 | UnFavourable | Direct Material Qty Variance | 1624 | Unfavourable | ||||||||
Actual Cost less Projected Cost | Projected Cost less Standard Cost | ||||||||||||
Direct Material Variance | 4130 | UnFavourable | |||||||||||
Price Variance Add Qty Variance | |||||||||||||
Direct Material Purchase Price Variance | ||||||
Actual Material Cost of Purchase | Projected Material Cost of Purchase | |||||
Actual Qty | Actual Price | Actual Cost | Actual Qty | Std Price | Projected Cost | |
15190 | 6 | 91140 | 15190 | 5.8 | 88102 | |
Direct Material Purchase Price Variance | 3038 | Unfavourable | ||||
Actual Cost less Projected Cost |
Direct labour Rate & Efficiency Variance | |||||||||||||
Actual labour Cost | Projected labour Cost | Standard labour Cost | |||||||||||
Actual Hours | Actual Rate | Actual Cost | Actual Hours | Std Rate | Projected Cost | Std Hours | Std Rate | Std Cost | |||||
5280 | 14.8 | 78144 | 5280 | 14.5 | 76560 | 4900 | 14.5 | 71050 | |||||
Direct labour Rate Variance | 1584 | Unfavourable | Direct labour Efficiency Variance | 5510 | Unfavourable | ||||||||
Actual Cost less Projected Cost | Projected Cost less Standard Cost | ||||||||||||
Direct labour Variance | 7094 | Unfavourable | |||||||||||
Rate Variance Add Efficiency Variance | |||||||||||||
During June, Danby Company’s material purchases amounted to 15,190 pounds at a price of $6.00 per...
During June, Danby Company’s material purchases amounted to 8,000 pounds at a price of $6.20 per pound. Actual costs incurred in the production of 2,500 units were as follows: Direct labor: $ 121,506 ($15.40 per hour) Direct material: $ 32,798 ($6.20 per pound) The standards for one unit of Danby Company’s product are as follows: Direct Labor: Direct Material: Quantity, 3 hours per unit Quantity, 2 pounds per unit Rate, $15.00 per hour Price, $5.90 per pound Required: Fill...
During June, Danby Company's material purchases amounted to 6,000 pounds at a price of $7.30 per pound. Actual costs incurred in the production of 2,000 units were as follows: Direct labor: Direct material: $116,745 ($18.10 per hour) $ 30,660 ($7.30 per pound) The standards for one unit of Danby Company's product are as follows: Direct Labor: Quantity, 3 hours per unit Rate, $18 per hour Direct Material: Quantity, 2 pounds per unit Price, $7 per pound Required: Fill in the...
During June, Danby Company's material purchases amounted to 6,000 pounds at a price of $7.30 per pound. Actual costs incurred in the production of 2,000 units were as follows: Direct labor: Direct material: $116,745 ($18.10 per hour) $ 30,660 ($7.30 per pound) The standards for one unit of Danby Company's product are as follows: Direct Labor: Quantity, 3 hours per unit Rate, $18 per hour Direct Material: Quantity, 2 pounds per unit Price, $7 per pound Required: Fill in the...
During June, Danby Company's material purchases amounted to 6,000 pounds at a price of $7.30 per pound. Actual costs incurred in the production of 2,000 units were as follows: Direct labor: Direct material: $116,745 ($18.10 per hour) $ 30,660 ($7.30 per pound) The standards for one unit of Danby Company's product are as follows: Direct Labor: Quantity, 3 hours per unit Rate, $18 per hour Direct Material: Quantity, 2 pounds per unit Price, $7 per pound Required: Fill in the...
During June, Danby Company’s material purchases amounted to 7,700 pounds at a price of $8.30 per pound. Actual costs incurred in the production of 2,400 units were as follows: Direct labor: $ 143,325 ($19.50 per hour) Direct material: $ 48,970 ($8.30 per pound) The standards for one unit of Danby Company’s product are as follows: Direct Labor: Direct Material: Quantity, 3 hours per unit Quantity, 2 pounds per unit Rate, $19.40 per hour Price, $8.00 per pound Required: Compute the...
During June, Danby Company’s material purchases amounted to 8,300 pounds at a price of $7.50 per pound. Actual costs incurred in the production of 1,700 units were as follows: Direct labor: $ 142,695 ($18.90 per hour) Direct material: $ 39,000 ($7.50 per pound) The standards for one unit of Danby Company’s product are as follows: Direct Labor: Direct Material: Quantity, 4 hours per unit Quantity, 3 pounds per unit Rate, $18.80 per hour Price, $7.20 per pound Required: Compute the...
During June, Danby Company's material purchases amounted to 6,400 pounds at a price of $7.70 per pound. Actual costs incurred in the production of 1,500 units were as follows: Direct labor: Direct material: $126,725 ($18.50 per hour) $ 35,420 ($7.70 per pound) The standards for one unit of Danby Company's product are as follows: Direct Labor: Quantity, 4 hours per unit Rate, $18.40 per hour Direct Material: Quantity, 3 pounds per unit Price, $7.40 per pound Required: Compute the direct-material...
During June, Danby Company's material purchases amounted to 6,700 pounds at a price of $8.00 per pound. Actual costs incurred in the production of 2,300 units were as follows: Direct labor: Direct material: $134,420 ($18.80 per hour) $ 39,200 ($8.00 per pound) The standards for one unit of Danby Company's product are as follows: Direct Labor: Quantity, 3 hours per unit Rate, $18.70 per hour Direct Material: Quantity, 2 pounds per unit Price, $7.70 per pound Required: Compute the direct-material...
During June, Danby Company's material purchases amounted to 7,200 pounds at a price of $7.70 per pound. Actual costs incurred in the production of 1,700 units were as follows: Direct labor: Direct material: $125,795 $18.10 per hour) $ 41,580 ($7.70 per pound) The standards for one unit of Danby Company's product are as follows: Direct Labor: Quantity, 4 hours per unit Rate, $18.00 per hour Direct Material: Quantity, 3 pounds per unit Price, $7.40 per pound Required: Compute the direct-material...
-26 During June, Danby Company's material purchases amounted to 6,000 pounds at a price of S7.30 per pound. Actual costs incurred in the production of 2,000 units were as follows: Calculation S116,745 818.10 per hour) S30.660 ($7.30 per pound) Direct labor: Direct material: The standards for one unit of Danby Company's product are as follows: Direct material: Direct labor: Quantity, 2 pounds per unit Price, $7 per pound Quantity. 3 hours per unit Rate, SI8 per hour Compute the direct-material...