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The management of Zeta Fire Alarms has calculated the following variances: Direct materials cost variance Direct...
Data Table Total Flexible Budget Product Cost Variance Total Direct Materials Variance Total Manufacturing Overhead Variance...
Data Table Total Flexible Budget Product Cost Variance Total Direct Materials Variance Total Manufacturing Overhead Variance (0) Total Direct Labor Variance (c) Direct Labor Direct Labor Cost Variance Efficiency Variance $ 180 U $ 305 F (b) Direct Materials Efficiency Variance $ 145 U Direct Materials Cost Variance $ 520 F Total Variable Overhead Variance Total Fixed Overhead Variant Fixed Overhead (e) Variable Overhead Cost Variance 5750 Variable Overhead Efficiency Variance $ 600 F Cost Variance $ 125 F Print...
The following chart summarizes the direct materials and direct labor variances from November of last year...
The following chart summarizes the direct materials and direct labor variances from November of last year through April of this year (extracted from the report provided by Matt). Standards for each laptop cover are as follows: a. Three feet of direct materials at $7.50 per foot b. Forty-five minutes of direct labor at $14 per hour. Actual Cost Direct Materials (Direct Direct Direct Labor Direct Labor Efficiency Materials Materials Efficiency Rate Direct Labor) Price Variance Variance Month Variance Variance November...
need help with the journal Materials Direct Materials Price Variance Direct materials (5 lbs. @ $2.60)...
need help with the journal
Materials Direct Materials Price Variance Direct materials (5 lbs. @ $2.60) Accounts Payable $13.00 Work in Process Direct labor (0.75 hr. @ $18.00) 13.50 Direct Materials Usage Variance Materials Fixed overhead (0.75 hr. @ $4.00) 3.00 Variable overhead (0.75 hr. @ $3.00) 2.25 Work in Process Direct Labor Efficiency Variance Direct Labor Rate Variance Wages Payable Standard cost per unit $31.75 Work in Process Variable Overhead Control Fixed Overhead Control Algers computes its overhead rates...
Use the information above to compute direct labor and direct materials variances. Variable produc...
Use the information above to
compute direct labor and direct materials variances. Variable
product costs are broken down into DM, DL, and VMOH.
Actual Spending Variance U or F lexible Activity Variance U or F Budget Investigate? 11,000 Units 10,500 10,500 10,500 430,500 420,000 20,000) U 440,000 Sales 3% No ariable Expenses 339,297 34,125 373422 57,078 336,000 16,000) 31,500 1500) F 367,500 17500) F 1% No 8% Yes 2% No 9% Yes Variable COGS 352,000 $33,000 $ 385,000 $ 55,000...
The Blodeau Manufacturing Company's costng system has two drect-cost calegories drect materials and direct manufacturing labor...
The Blodeau Manufacturing Company's costng system has two drect-cost calegories drect materials and direct manufacturing labor Manufacturing overhead (both variable and fived) is alocated to products on the basis of standard direct manufacturing labor-hours (DLH) At the beginning of 2017, Blodeau adopled the folowing standards for its manutacturing costs (Clck to view the standards) Click to view additional information) Read the requirements Raquiremerd 1. Prepare a schedue of total standard manutacturing oosts for the 7,500 output units in January 2017...
Lemon Life has produced the following variance analysis report. If Lemon Life has a policy to...
Lemon Life has produced the following variance analysis report. If Lemon Life has a policy to investigate variances over 10% of the flexible budget, which variances should be investigated? Actual Flexible budget Budget Variance Price Variance Quantity Variance DM $324,240 $298,000 $26,240 U $39,000 U ($12,760) F DL $215,580 $300,000 ($84,420) F ($13,000) F ($71,420) F VOH $231,860 $249,000 ($17,140) F $2,000 U ($19,140) F The direct labor rate variance and the direct labor efficiency variance. The direct materials price...
Assume Drake Consulting has created a standard cost card for each job. Standard direct materials per...
Assume Drake Consulting has created a standard cost card for each job. Standard direct materials per job include 14 software packages at a cost of $950 per package. Standard direct labor costs per job include 100 hours at $150 per hour. Drake plans on completing 11 jobs during March 2018. Actual direct materials costs for March included 85 software packages at a total cost of $82,875. Actual direct labor costs included 115 hours per job at an average rate of...
PA9-1 (Algo) Calculating Direct Material, Direct Labor, Variable Overhead Variances [LO 9-3, 9-4, 9-5] Barley Hopp,...
PA9-1 (Algo) Calculating Direct Material, Direct Labor, Variable Overhead Variances [LO 9-3, 9-4, 9-5] Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Quantity Standard Price (Rate) Standard Unit Cost Direct materials (clay) 1.70 lbs. $ 1.80 per lb. $ 3.06 Direct labor 1.70 hrs. $ 11.00 per hr. 18.70 Variable manufacturing overhead (based on direct labor hours) 1.70 hrs. $ 1.10 per hr. 1.87 Fixed manufacturing overhead ($420,500.00 ÷ 145,000.00 units) 2.90 Barley Hopp...
Barley Hopp, Inc., manufactures custom-ordered glass windows. Its standard cost information follows: Standard Quantity Direct materials...
Barley Hopp, Inc., manufactures custom-ordered glass windows. Its standard cost information follows: Standard Quantity Direct materials (glass) 1.70 lbs. Direct labor 1.70 hrs. Variable manufacturing overhead (based on direct labor hours) 1.70 hrs. Fixed manufacturing overhead ($ 402,500.00 + 175,000.00 units) Standard Price Standard (Rate) Unit Cost $ 1.80 per lb. $ 3.06 $10.00 per hr. (8 01:00:30 $ 1.10 per hr. 1.87 2.30 Barley had the following actual results last year: Number of units produced and sold Number of...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (clay)...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($273,000.00 = 105,000.00 units) Standard Quantity 1.60 lbs. 1.60 hrs. 1.60 hrs. Standard Price (Rate) $ 1.70 per lb. $ 10.00 per hr. $ 1.10 per hr. Standard Unit Cost $ 2.72 16.00 1.76 2.60 Barley Hopp had the following actual results last year: Number of units produced and sold Number...
Data Table Total Flexible Budget Product Cost Variance Total Direct Materials Variance Total Manufacturing Overhead Variance (0) Total Direct Labor Variance (c) Direct Labor Direct Labor Cost Variance Efficiency Variance $ 180 U $ 305 F (b) Direct Materials Efficiency Variance $ 145 U Direct Materials Cost Variance $ 520 F Total Variable Overhead Variance Total Fixed Overhead Variant Fixed Overhead (e) Variable Overhead Cost Variance 5750 Variable Overhead Efficiency Variance $ 600 F Cost Variance $ 125 F Print...
The following chart summarizes the direct materials and direct labor variances from November of last year through April of this year (extracted from the report provided by Matt). Standards for each laptop cover are as follows: a. Three feet of direct materials at $7.50 per foot b. Forty-five minutes of direct labor at $14 per hour. Actual Cost Direct Materials (Direct Direct Direct Labor Direct Labor Efficiency Materials Materials Efficiency Rate Direct Labor) Price Variance Variance Month Variance Variance November...
need help with the journal
Materials Direct Materials Price Variance Direct materials (5 lbs. @ $2.60) Accounts Payable $13.00 Work in Process Direct labor (0.75 hr. @ $18.00) 13.50 Direct Materials Usage Variance Materials Fixed overhead (0.75 hr. @ $4.00) 3.00 Variable overhead (0.75 hr. @ $3.00) 2.25 Work in Process Direct Labor Efficiency Variance Direct Labor Rate Variance Wages Payable Standard cost per unit $31.75 Work in Process Variable Overhead Control Fixed Overhead Control Algers computes its overhead rates...
Use the information above to
compute direct labor and direct materials variances. Variable
product costs are broken down into DM, DL, and VMOH.
Actual Spending Variance U or F lexible Activity Variance U or F Budget Investigate? 11,000 Units 10,500 10,500 10,500 430,500 420,000 20,000) U 440,000 Sales 3% No ariable Expenses 339,297 34,125 373422 57,078 336,000 16,000) 31,500 1500) F 367,500 17500) F 1% No 8% Yes 2% No 9% Yes Variable COGS 352,000 $33,000 $ 385,000 $ 55,000...
The Blodeau Manufacturing Company's costng system has two drect-cost calegories drect materials and direct manufacturing labor Manufacturing overhead (both variable and fived) is alocated to products on the basis of standard direct manufacturing labor-hours (DLH) At the beginning of 2017, Blodeau adopled the folowing standards for its manutacturing costs (Clck to view the standards) Click to view additional information) Read the requirements Raquiremerd 1. Prepare a schedue of total standard manutacturing oosts for the 7,500 output units in January 2017...
Assume Drake Consulting has created a standard cost card for each job. Standard direct materials per job include 14 software packages at a cost of $950 per package. Standard direct labor costs per job include 100 hours at $150 per hour. Drake plans on completing 11 jobs during March 2018. Actual direct materials costs for March included 85 software packages at a total cost of $82,875. Actual direct labor costs included 115 hours per job at an average rate of...
Barley Hopp, Inc., manufactures custom-ordered glass windows. Its standard cost information follows: Standard Quantity Direct materials (glass) 1.70 lbs. Direct labor 1.70 hrs. Variable manufacturing overhead (based on direct labor hours) 1.70 hrs. Fixed manufacturing overhead ($ 402,500.00 + 175,000.00 units) Standard Price Standard (Rate) Unit Cost $ 1.80 per lb. $ 3.06 $10.00 per hr. (8 01:00:30 $ 1.10 per hr. 1.87 2.30 Barley had the following actual results last year: Number of units produced and sold Number of...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($273,000.00 = 105,000.00 units) Standard Quantity 1.60 lbs. 1.60 hrs. 1.60 hrs. Standard Price (Rate) $ 1.70 per lb. $ 10.00 per hr. $ 1.10 per hr. Standard Unit Cost $ 2.72 16.00 1.76 2.60 Barley Hopp had the following actual results last year: Number of units produced and sold Number...
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