Given the information from the Flea Tube Company: units of 18 000 tubes during last month....
Given the information from the Flea Tube Company:
units of 18 000 tubes during last month. & Fixed OH costs @ standard rate of $19 per direct labor hour.
|
Given info for direct labor: Standard cost: 6 tubes per hour @ $24 an hour Actual cost per hour: $24.50 Labour efficiency variance: $6720 Favourable Given info for fixed overhead costs: Estimated cost = $60,000 Actual cost = $58,720 Questions: |
(a) Calculate actual labor hours were worked to produce the 18 000 units of tubes?
(b) Calculate the price variance for direct labor?
(c) Calculate the budget variance for fixed costs?
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Given the information from the Flea Tube Company:
units of 18 000 tubes during last month....
Given the information from the Flea Tube Company: units of 18 000 tubes during last month....
Given the information from the Flea Tube Company: units of 18 000 tubes during last month. & Fixed OH costs @ standard rate of $19 per direct labor hour. Given info for direct labor: Standard cost: 6 tubes per hour @ $24 an hour Actual cost per hour: $24.50 Labour efficiency variance: $6720 Favourable Given info for fixed overhead costs: Estimated cost = $60,000 Actual cost = $58,720 Questions: (a) Calculate actual labor hours were worked to produce the 18...
The following data for a pottery company pertain to the production of 2,000 clay pots during...
The following data for a pottery company pertain to the production of 2,000 clay pots during July. Direct Materials (all materials purchased were used) Standard cost: $6.00 per kilogram of clay Total actual cost: $11,200 Standard cost allowed for units produced was $12,000 Materials efficiency variance was $240 unfavourable Direct Manufacturing Labour: Standard cost is 2 pots per hour at $24.00 per hour Actual cost per hour was $24.50 Actual labour was 972 hours What is the direct manufacturing labour...
The following data for a pottery company pertain to the production of 2,000 clay pots during...
The following data for a pottery company pertain to the production of 2,000 clay pots during July. Direct Materials (all materials purchased were used): Standard cost: $6.00 per kilogram of clay Total actual cost: $11,200 Standard cost allowed for units produced was $12,000 Materials efficiency variance was $240 unfavourable Direct Manufacturing Labour: Standard cost is 2 pots per hour at $24.00 per hour Actual cost per hour was $24.50 Actual labour was 972 hours What is the total direct materials...
The following data for a pottery company pertain to the production of 2,000 clay pots during...
The following data for a pottery company pertain to the production of 2,000 clay pots during July. Direct Materials (all materials purchased were used): Standard cost: $2.00 per kilogram of clay Total actual cost: $10,640 Standard cost allowed for units produced was $12,000 Materials quantity variance was $800 favourable Direct Manufacturing Labour: Standard cost is 2 pots per hour at $24.00 per hour Actual cost per hour was $24.50 Actual labour was 1028 hours show all steps! a. What is...
Mercuri Company has gathered the following information: Variable manufacturing overhead costs $13,680 Fixed manufacturing overhead costs...
Mercuri Company has gathered the following information:
Variable manufacturing overhead costs
$13,680
Fixed manufacturing overhead costs
$10,710
Normal production level in labour hours
9,000
Standard labour hours
9,500
During the year, 3,050 units were produced, 10,900 hours were
worked, and the actual manufacturing overhead was $21,800. Actual
fixed overhead totalled $10,800.
Mercuri applies overhead based on direct labour hours.
Calculate the total, fixed, and variable predetermined overhead
rates.(Round answers to 2 decimal places, e.g.
15.25.)
Fixed predetermined ovehead rate
$...
Mark: 19 (1 point for each question) 1) The unemployment rate is high in the city...
Mark: 19 (1 point for each question) 1) The unemployment rate is high in the city in which a company has a factory. The company finds that they are able to pay new employees a lower wage per hour than when the unemployment rate was lower a year ago. Which variance is directly impacted? A) Materials price variance B) Materials efficiency variance C) Labour price variance D) Labour efficiency variance 2) Thomas Corporation produces stopwatches. According to company standards, it...
You have been given the following list of variances for the Pennadi Company: Direct...
You have been given the following list of variances for the Pennadi Company: Direct materials price variance $ 16,800 U Direct materials quantity variance 12,000 U Direct labour rate variance 16,270 F Direct labour efficiency variance 27,000 U Variable overhead spending variance 3,120 U Variable overhead efficiency variance 6,000 U Fixed overhead budget variance 5,000 U Fixed overhead volume variance 53,250 F You have also been given the following information: Actual units produced 25,000 Budgeted units...
Mandy Company has the following information from last month: Standard direct labor hours allowed for units...
Mandy Company has the following information from last month: Standard direct labor hours allowed for units produced (SQ) 3,600 Actual direct labor hours worked (AQ) 3,480 Direct labor efficiency variance, favorable (F) $ 5,760 Total payroll $ 187,920 1.) What was Mandy's direct labor rate variance for the month, rounded to the nearest dollar? 2.) What was Mandy's actual direct labor rate per hour (AP), rounded to two decimal places?
Question 24 Rondell Company uses standard cost system. Indirect costs were budgeted at $190,800 plus $13...
Question 24 Rondell Company uses standard cost system. Indirect costs were budgeted at $190,800 plus $13 per direct labour hour. The overhead rate is based on 10,600 hours. Actual results were: Standard direct labour hours allowed Actual direct labour hours Fixed overhead Variable overhead 9,070 10,600 $179,000 $174,400 Calculate the fixed overhead production volume variance. Fixed overhead production volume variance Calculate the variable overhead spending variance. Variable overhead spending variance $ Calculate the variable overhead efficiency variance. Variable overhead efficiency...
World Company expects to operate at 60% of its productive capacity of 28,000 units per month....
World Company expects to operate at 60% of its productive
capacity of 28,000 units per month. At this planned level, the
company expects to use 7,560 standard hours of direct labor.
Overhead is allocated to products using a predetermined standard
rate of 0.450 direct labor hour per unit. At the 60% capacity
level, the total budgeted cost includes $22,680 fixed overhead cost
and $60,480 variable overhead cost. In the current month, the
company incurred $63,920 actual overhead and 7,130 actual...
The following data for a pottery company pertain to the production of 2,000 clay pots during July. Direct Materials (all materials purchased were used) Standard cost: $6.00 per kilogram of clay Total actual cost: $11,200 Standard cost allowed for units produced was $12,000 Materials efficiency variance was $240 unfavourable Direct Manufacturing Labour: Standard cost is 2 pots per hour at $24.00 per hour Actual cost per hour was $24.50 Actual labour was 972 hours What is the direct manufacturing labour...
The following data for a pottery company pertain to the production of 2,000 clay pots during July. Direct Materials (all materials purchased were used): Standard cost: $6.00 per kilogram of clay Total actual cost: $11,200 Standard cost allowed for units produced was $12,000 Materials efficiency variance was $240 unfavourable Direct Manufacturing Labour: Standard cost is 2 pots per hour at $24.00 per hour Actual cost per hour was $24.50 Actual labour was 972 hours What is the total direct materials...
Mercuri Company has gathered the following information:
Variable manufacturing overhead costs
$13,680
Fixed manufacturing overhead costs
$10,710
Normal production level in labour hours
9,000
Standard labour hours
9,500
During the year, 3,050 units were produced, 10,900 hours were
worked, and the actual manufacturing overhead was $21,800. Actual
fixed overhead totalled $10,800.
Mercuri applies overhead based on direct labour hours.
Calculate the total, fixed, and variable predetermined overhead
rates.(Round answers to 2 decimal places, e.g.
15.25.)
Fixed predetermined ovehead rate
$...
Mark: 19 (1 point for each question) 1) The unemployment rate is high in the city in which a company has a factory. The company finds that they are able to pay new employees a lower wage per hour than when the unemployment rate was lower a year ago. Which variance is directly impacted? A) Materials price variance B) Materials efficiency variance C) Labour price variance D) Labour efficiency variance 2) Thomas Corporation produces stopwatches. According to company standards, it...
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World Company expects to operate at 60% of its productive
capacity of 28,000 units per month. At this planned level, the
company expects to use 7,560 standard hours of direct labor.
Overhead is allocated to products using a predetermined standard
rate of 0.450 direct labor hour per unit. At the 60% capacity
level, the total budgeted cost includes $22,680 fixed overhead cost
and $60,480 variable overhead cost. In the current month, the
company incurred $63,920 actual overhead and 7,130 actual...
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