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You have been given the following information about the
production of Gamma Co:
Problem 12.40A a-h You have been given the following information about the production of Gamma Co., and are asked to provide the plant manager with information for a meeting with the vice-president of operations: Direct materials (5.00 kg at $3.00 per kilogram) Direct labour (0.50 hours at $4.00) Variable overhead (0.50 hours at $3.00 per hour) Fixed overhead (0.50 hours at $6 per hour) Standard Cost Card...
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Direct Material Variances
Goldman, Inc. is a manufacturer of lead crystal glasses. The
standard direct materials quantity is 0.7 pounds per glass at the
cost of $0.35 per pound. The actual result for one month’s
production of 6,950 glasses was 1.3 pounds per glass, at the cost
of $0.45 per pound. Calculate the direct materials cost variance
and the direct materials efficiency variance.
Direct Labour Variances
Goldman, Inc. manufactures lead crystal glasses. The standard
direct labor time is 0.5 hours...
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ABC Manufacturing Company's costing system has two direct cost categories: direct materials and direct manufacturing labour. Manufacturing overhead (both variable and fixed) is allocated to products on the basis of standard DMLH At the beginning of 2018, ABC adopted the following standards for its manufacturing costs: Input Cost per Output Unit S 15 75 3 kg at $5 per kg 5 hours at $15 per hour Direct materials Direct manufacturing labour Manufacturing overhead: Variable Fixed Standard manufacturing cost per output...
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Muddy Duck Manufacturing (MDM) Inc.’s costing system has two
direct cost categories: direct materials and direct manufacturing
labour. Manufacturing overhead, both fixed and variable, is
allocated to products on the basis of standard direct manufacturing
labour hours (DMLH). At the beginning of 2017, MDM adopted the
following standards for its manufacturing costs:
Input
Cost per output unit
Direct materials
3kg @ $5 per kg
$15
Direct manufacturing labour
5 hours @ $15 per hour
75
Manufacturing overhead:
Variable
$6 per...
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Milberg Co. uses absorption costing and standard costing to
improve cost control.
In 2016, the total budgeted overhead rate was $1.55 per direct
labour hour. When preparing the budget, Milberg expected a monthly
activity level of 10,000 direct labour hours. The monthly variable
overhead cost budgeted for this level of activity was $9,500.
The following data on actual results are provided for the month
of November 2016.
Solve for:
Variable Overhead Spending Variance
Variable Overhead Efficiency Variance
Variable Overhead Total...
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Q5. What is the direct material
efficiency variance? _________ Show calculation below.
Q6. Given the info above, what is the
direct labor rate variance? _________ Show calculation below.
Q7. Given the info above, the fixed
overhead controllable variance is: _________ Show calculation
below.
Q8. What is the variable overhead
controllable variance? _________ Show calculation below.
Rogen uses the standard cost system. The Static original budgeted production was 5,000 units for October. The Input standards were: Std Quantity x Std Price...
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Milberg Co. uses absorption costing and standard costing to
improve cost control.
In 2016, the total budgeted overhead rate was $1.55 per direct
labour hour. When preparing the budget, Milberg expected a monthly
activity level of 10,000 direct labour hours. The monthly variable
overhead cost budgeted for this level of activity was $9,500.
The following data on actual results are provided for the month
of November 2016.
calculate the following variances:
Material Price Variance
Materials Quantity Variance
Total Materials Variance...
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REQUIRED: Calculate the following manufacturing cost variances for the company Show all supporting calculations. Direct materials price variance (I) Direct materials quantity variance. (2) Direct labor price (rate) variance. (3) (4) Direct labor quantity (efficiency) variance. (5) Variable manufacturing spending (price) variance. Variable manufacturing efficiency (quantity) variance. (6) Fixed manufacturing spending (price) variance. (7) (8) Fixed manufacturing volume variance. od0 Brauklandsr Problem 1 as points Versailles Company prodaces peodoct that reies on a stdand eost yst for planming and control,...
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fill in the missing numbers
Consider the following data provided for each of the following independent cases. For each case assume that the business uses a standard cost system and a flexible budget to control variable and fixed manufacturing overhead, and applies manufacturing overhead on the basis of direct labour hours. Fill in the blanks for each case, and indicate whether the variances are favourable (F) or unfavourable (U). Phi Company Pho Company Number of labour hours budgeted $10,600 hrs...
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Input
Cost per Output Unit
Direct materials
2 lbs. at $6 per lb.
$12.00
Direct manufacturing labor
7 hrs. at $18 per hr.
126.00
Manufacturing overhead:
Variable
$7 per DLH
49.00
Fixed
$9 per DLH
63.00
Standard manufacturing cost per output unit
$250.00
The denominator level for total manufacturing overhead per month
in 2014 is 38,000 direct manufacturing labor-hours.
Barrett's flexible budget for January 2014 was based on this
denominator level. The records for January indicated the
following:
Direct materials...
![ANSWER: 1. Actual number of units of direct materials purchased [Actual cost ] + [material purchase price] Actual cost of dir](http://img.homeworklib.com/questions/592f43c0-fa31-11eb-b55d-d759d072c37c.png?x-oss-process=image/resize,w_560)
You have been given the following information about the
production of Gamma Co:
Problem 12.40A a-h You have been given the following information about the production of Gamma Co., and are asked to provide the plant manager with information for a meeting with the vice-president of operations: Direct materials (5.00 kg at $3.00 per kilogram) Direct labour (0.50 hours at $4.00) Variable overhead (0.50 hours at $3.00 per hour) Fixed overhead (0.50 hours at $6 per hour) Standard Cost Card...
ABC Manufacturing Company's costing system has two direct cost categories: direct materials and direct manufacturing labour. Manufacturing overhead (both variable and fixed) is allocated to products on the basis of standard DMLH At the beginning of 2018, ABC adopted the following standards for its manufacturing costs: Input Cost per Output Unit S 15 75 3 kg at $5 per kg 5 hours at $15 per hour Direct materials Direct manufacturing labour Manufacturing overhead: Variable Fixed Standard manufacturing cost per output...
Milberg Co. uses absorption costing and standard costing to
improve cost control.
In 2016, the total budgeted overhead rate was $1.55 per direct
labour hour. When preparing the budget, Milberg expected a monthly
activity level of 10,000 direct labour hours. The monthly variable
overhead cost budgeted for this level of activity was $9,500.
The following data on actual results are provided for the month
of November 2016.
Solve for:
Variable Overhead Spending Variance
Variable Overhead Efficiency Variance
Variable Overhead Total...
Q5. What is the direct material
efficiency variance? _________ Show calculation below.
Q6. Given the info above, what is the
direct labor rate variance? _________ Show calculation below.
Q7. Given the info above, the fixed
overhead controllable variance is: _________ Show calculation
below.
Q8. What is the variable overhead
controllable variance? _________ Show calculation below.
Rogen uses the standard cost system. The Static original budgeted production was 5,000 units for October. The Input standards were: Std Quantity x Std Price...
Milberg Co. uses absorption costing and standard costing to
improve cost control.
In 2016, the total budgeted overhead rate was $1.55 per direct
labour hour. When preparing the budget, Milberg expected a monthly
activity level of 10,000 direct labour hours. The monthly variable
overhead cost budgeted for this level of activity was $9,500.
The following data on actual results are provided for the month
of November 2016.
calculate the following variances:
Material Price Variance
Materials Quantity Variance
Total Materials Variance...
REQUIRED: Calculate the following manufacturing cost variances for the company Show all supporting calculations. Direct materials price variance (I) Direct materials quantity variance. (2) Direct labor price (rate) variance. (3) (4) Direct labor quantity (efficiency) variance. (5) Variable manufacturing spending (price) variance. Variable manufacturing efficiency (quantity) variance. (6) Fixed manufacturing spending (price) variance. (7) (8) Fixed manufacturing volume variance. od0 Brauklandsr Problem 1 as points Versailles Company prodaces peodoct that reies on a stdand eost yst for planming and control,...
fill in the missing numbers
Consider the following data provided for each of the following independent cases. For each case assume that the business uses a standard cost system and a flexible budget to control variable and fixed manufacturing overhead, and applies manufacturing overhead on the basis of direct labour hours. Fill in the blanks for each case, and indicate whether the variances are favourable (F) or unfavourable (U). Phi Company Pho Company Number of labour hours budgeted $10,600 hrs...
Input
Cost per Output Unit
Direct materials
2 lbs. at $6 per lb.
$12.00
Direct manufacturing labor
7 hrs. at $18 per hr.
126.00
Manufacturing overhead:
Variable
$7 per DLH
49.00
Fixed
$9 per DLH
63.00
Standard manufacturing cost per output unit
$250.00
The denominator level for total manufacturing overhead per month
in 2014 is 38,000 direct manufacturing labor-hours.
Barrett's flexible budget for January 2014 was based on this
denominator level. The records for January indicated the
following:
Direct materials...