Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May.
The production superintendent was pleased when he saw this report and commented: "This S0.22 excess cost is well within the 2 percent limit management has set for acceptable variances. It's obvious that there's not much to worry about with this product.
Actual production for the month was 10,000 units. Variable overhead cost is assigned to products on the basis of direct labor-hours. There were no beginning or ending inventories of materials.
Required
1. Compute the following variances for May:
a. Materials price and quantity variances.
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Koontz Company manufactures a number of products. The standards relating to one of these products are...
Koontz Company manufactures a number of products. The standards relating to one of these products are...
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May. Standard Cost per Unit Actual Cost per Unit Direct materials: Standard: 1.80 feet at $1.20 per foot $ 2.16 Actual: 1.75 feet at $1.60 per foot $ 2.80 Direct labor: ...
Koontz Company manufactures a number of products. The standards relating to one of these products are...
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May. Standard Cost per Unit Actual Cost per Unit $ 2.88 $ 3.50 16.20 Direct materials: Standard: 1.80 feet at $1.60 per foot Actual: 1.75 feet at $2.00 per foot Direct labor: Standard: 0.90 hours at $18.00 per hour Actual: 0.95 hours at $17.40 per hour Variable overhead: Standard: 0.90 hours at $6.00 per hour Actual:...
Koontz Company manufactures a number of products. The standards relating to one of these products are...
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May. Standard Cost per Unit Actual Cost per Unit $ 3.60 $ 3.85 18.00 Direct materials: Standard: 1.80 feet at $2.00 per foot Actual: 1.75 feet at $2.20 per foot Direct labor: Standard: 0.90 hours at $20.00 per hour Actual: 0.95 hours at $19.40 per hour Variable overhead: Standard: 0.90 hours at $6.40 per hour Actual:...
Koontz Company manufactures a number of products. The standards relating to one of these products are...
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May. Standard Cost per Unit Actual Cost per Unit Direct materials: Standard: 1.80 feet at $1.60 per foot $ 2.88 Actual: 1.75 feet at $2.00 per foot $ 3.50 Direct labor: Standard: 0.90 hours at $18.00 per hour 16.20 Actual: 0.95 hours at $17.40 per hour 16.53 Variable overhead: Standard: 0.90 hours at $6.00 per hour...
Koontz Company manufactures a number of products. The standards relating to one of these products are...
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May. Standard Cost per Unit Actual Cost per Unit $ 5.04 $ 5.25 15.30 Direct materials: Standard: 1.80 feet at $2.80 per foot Actual: 1.75 feet at $3.00 per foot Direct labor: Standard: 0.90 hours at $17.00 per hour Actual: 0.95 hours at $16.40 per hour Variable overhead: Standard: 0.90 hours at $7.40 per hour Actual:...
Koontz Company manufactures a number of products. The standards relating to one of these products are...
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May. Standard Cost per Unit Actual Cost per Unit $ 6.46 $ 7.03 19.00 Direct materials: Standard: 1.90 feet at $3.40 per foot Actual: 1.85 feet at $3.80 per foot Direct labor: Standard: 0.95 hours at $20.00 per hour Actual: 1.00 hours at $19.50 per hour Variable overhead: Standard: 0.95 hours at $7.00 per hour Actual:...
Koontz Company manufactures a number of products. The standards relating to one of these products are...
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May. Standard Cost per Unit Actual Cost per Unit Direct materials: Standard: 1.80 feet at $1.80 per foot $ 3.24 Actual: 1.75 feet at $2.20 per foot $ 3.85 Direct labor: Standard: 0.90 hours at $19.00 per hour 17.10 Actual: 0.95 hours at $18.40 per hour 17.48 Variable overhead: Standard: 0.90 hours at $6.40 per hour...
Koontz Company manufactures a number of products. The standards relating to one of these products are...
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May. Standard Cost per Unit Actual Cost per Unit Direct materials: Standard: 1.90 feet at $4.00 per foot $ 7.60 Actual: 1.85 feet at $4.40 per foot $ 8.14 Direct labor: Standard: 1.10 hours at $16.00 per hour 17.60 Actual: 1.15 hours at $15.40 per hour 17.71 Variable overhead: Standard: 1.10 hours at $9.00 per hour...
Koontz Company manufactures a number of products. The standards relating to one of these products are...
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May Standard Actual Cost per Cost per Unit Unit Direct materials S 4.32 Standard: 1.80 feet at $2.40 per foot Actual: 1.75 feet at $2.60 per foot S 4.55 Direct labor 14.40 Standard: 0.90 hours at $16.00 per hour Actual: 0.95 hours at $15.40 per hour 14.63 Variable overhead: 3.60 Standard: 0.90 hours at $4.00 per...
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along...
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May. Standard Cost per Unit Actual Cost per Unit Direct materials: Standard: 1.80 feet at $2.80 per foot $ 5.04 Actual: 1.75 feet at $3.00 per foot $ 5.25 Direct labor: Standard: 0.90 hours at $17.00 per hour 15.30 Actual: 0.95 hours at $16.40 per hour 15.58 Variable overhead: Standard: 0.90 hours at $7.40 per hour...
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May. Standard Cost per Unit Actual Cost per Unit $ 2.88 $ 3.50 16.20 Direct materials: Standard: 1.80 feet at $1.60 per foot Actual: 1.75 feet at $2.00 per foot Direct labor: Standard: 0.90 hours at $18.00 per hour Actual: 0.95 hours at $17.40 per hour Variable overhead: Standard: 0.90 hours at $6.00 per hour Actual:...
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May. Standard Cost per Unit Actual Cost per Unit $ 3.60 $ 3.85 18.00 Direct materials: Standard: 1.80 feet at $2.00 per foot Actual: 1.75 feet at $2.20 per foot Direct labor: Standard: 0.90 hours at $20.00 per hour Actual: 0.95 hours at $19.40 per hour Variable overhead: Standard: 0.90 hours at $6.40 per hour Actual:...
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May. Standard Cost per Unit Actual Cost per Unit $ 5.04 $ 5.25 15.30 Direct materials: Standard: 1.80 feet at $2.80 per foot Actual: 1.75 feet at $3.00 per foot Direct labor: Standard: 0.90 hours at $17.00 per hour Actual: 0.95 hours at $16.40 per hour Variable overhead: Standard: 0.90 hours at $7.40 per hour Actual:...
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May. Standard Cost per Unit Actual Cost per Unit $ 6.46 $ 7.03 19.00 Direct materials: Standard: 1.90 feet at $3.40 per foot Actual: 1.85 feet at $3.80 per foot Direct labor: Standard: 0.95 hours at $20.00 per hour Actual: 1.00 hours at $19.50 per hour Variable overhead: Standard: 0.95 hours at $7.00 per hour Actual:...
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May Standard Actual Cost per Cost per Unit Unit Direct materials S 4.32 Standard: 1.80 feet at $2.40 per foot Actual: 1.75 feet at $2.60 per foot S 4.55 Direct labor 14.40 Standard: 0.90 hours at $16.00 per hour Actual: 0.95 hours at $15.40 per hour 14.63 Variable overhead: 3.60 Standard: 0.90 hours at $4.00 per...
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