Actual direct manufacturing labor wage rate 4. Standard quantity of direct materials allowed (in pounds) 5....
Given the following information regarding direct materials: ---Actual quantity purchased = 75,000 pounds -Actual quantity used = 66,000 pounds Actual price of direct materials = $11 per pound Standard quantity of direct materials = 3 pounds per unit Standard cost of direct materials = $10 per pound Units produced = 21,000 units -What is the direct materials price variance? (AP - SP) x AQ purchased ? -What is the direct materials usage variance? (AQ used - SQ allowed) x SP...
Black and Decker Corporation has the following information is for their standard and actual costs: Standard Costs: Budgeted units of production - 9,000 (100% of capacity) Standard material per unit - 12 lbs. Standard material cost - $14.00 per pound Standard labor hours per unit - 12 Standard labor rate - $29.00 per hour Standard variable overhead rate - $7.50 per labor hour Budgeted fixed overhead - $729,000 Fixed overhead rate is based on budgeted labor hours at 100% capacity...
10 Direct materials Standard per unit Actual $ 4 per pound Used 15 Materials quantity variance $ 3 2 pounds pounds Produced 10 finished units (AQ used - SQ allowed) SP A B C D 15 20 39 78 2 pt Variance is A favorable B unfavorable SQ allowed Standard per unit actual units 11 FACTORY OVERHEAD Machine Hours Budgeted $50 Standard allowed 16 Actual 180 Actual Variable factory overhead (activity base) rate per machine hour $10 Efficiency variance 10...
The roofing company manufactures shingles. Standard Cost Sheet per shingle 1.5 pounds $0.07 per pound direct labor Direct materials Asphalt 0.01 hour $11 per hour Direct labor Variable direct labor Manufacturing $2 per hour 0.01 hour overhead Fixed direct labor Manufacturing 0.01 hour $10 per hour overhead Total standard cost per shingle $60,000 600,000 Units 6000 direct labor hours Budgeted fixed manufacturing overhead for the period is Budgeted units to be produced Standard fixed manufacturing overhead based on expected capacity...
Standard Quantity or Standard Cost Per Unit Direct materials Direct labor Variable overhead 3.3 liters 2.5 hours 0.5 hours Standard Price or Rate $ 8.00 per liter $32.00 per hour $ 3.00 per hour $16.00 $ 1.50 The company budgeted for production of 3.600 units in September but actual production was 1500 units The company used 6.440 Mers of direct material and direct labor hours to produce this ou company purchased 6 800 liters of the direct material at $8...
Need help on large speed bump. How to calculate standard pounds per unit and direct materials quantity variance? Last month, Banner Corporation purchased and used the same quantity of material in producing its product, speed bumps for traffic control. (Click the icon to view the table.) Complete the following table (Round your answers to two decimal places.) Large speed bump Data Table $ Medium speed bump Large speed bump 13 Direct materials information Standard pounds per unit Standard price per...
The standard materials cost to produce 1 unit of Product R is 6 pounds of material at a standard price of $50 per pound. In manufacturing 8,000 units, 47,000 pounds of material were used at a cost of $51 per pound. What is the direct materials quantity variance? Multiple Choice $47,000 unfevorable $47000 favorable $50,000 unfavcracle Multiple Choice $47,000 unfavorable. $47,000 favorable. $50,000 unfavorable $50,000 favorable. Prex 1 of 20 Next Fletcher Company collected the following data regarding production of...
2. Compute the direct labor cost variance, including its rate and efficiency variances. Standard Cost Actual Cost $ $ 0 0 0 0 3. Compute the overhead controllable and volume variances. Controllable Variance Actual overhead Budgeted overhead Controllable variance Fixed overhead volume variance Budgeted fixed overhead Fixed overhead cost applied Fixed overhead volume variance Check my work 1 ! Required information 12.5 [The following information applies to the questions displayed below.] points Trico Company set the following standard unit costs...
Oyster Bay Surfboards manufactures fiberglass surfboards. The standard cost of direct materials and direct manufacturing labor is $214 per board. This includes 35 pounds of direct materials, at the budgeted price of $2 per pound, and 10 hours of direct manufacturing labor, at the budgeted rate of $14.40 per hour. Following are additional data for the month of July: Units completed 5,500 units Direct material purchases 230,000 pounds Cost of direct material purchases $782,000 Actual direct manufacturing labor-hours 48,000 hours...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct material: 5 pounds at $10.00 per pound$50.00Direct labor: 3 hours at $17 per hour51.00Variable overhead: 3 hours at $7 per hour21.00Total standard variable cost per unit$122.00 The company also established the following cost formulas for its selling expenses: Fixed Cost per MonthVariable Cost per Unit SoldAdvertising$330,000Sales salaries and commissions$360,000$25.00Shipping expenses$16.00 The planning budget for March was...