Rudd Clothiers is a small company that manufactures tall-men’s
suits. The company has used a standard cost accounting system. In
May 2020, 10,100 suits were produced. The following standard and
actual cost data applied to the month of May when normal capacity
was 14,000 direct labor hours. All materials purchased were
used.
Cost Element |
Standard (per unit) |
Actual |
||
Direct materials | 7 yards at $4.70 per yard | $322,200 for 71,600 yards ($4.50 per yard) | ||
Direct labor | 1.20 hours at $13.00 per hour | $173,166 for 13,020 hours ($13.30 per hour) | ||
Overhead | 1.20 hours at $6.40 per hour (fixed $3.90; variable $2.50) | $49,400 fixed overhead $37,500 variable overhead |
Overhead is applied on the basis of direct labor hours. At normal
capacity, budgeted fixed overhead costs were $54,600, and budgeted
variable overhead was $35,000.
(a)
Compute the total, price, and quantity variances for (1) materials
and (2) labor. (Round per unit values to 2 decimal
places, e.g. 52.75 and final answers to 0 decimal places, e.g.
52.)
(1) | Total materials variance | $ | FavorableNeither favorable nor unfavorableUnfavorable | |||
Materials price variance | $ | Neither favorable nor unfavorableFavorableUnfavorable | ||||
Materials quantity variance | $ | Neither favorable nor unfavorableFavorableUnfavorable | ||||
(2) | Total labor variance | $ | UnfavorableNeither favorable nor unfavorableFavorable | |||
Labor price variance | $ | UnfavorableNeither favorable nor unfavorableFavorable | ||||
Labor quantity variance | $ | Neither favorable nor unfavorableFavorableUnfavorable |
(b)
Compute the total overhead variance.
Total overhead variance | $ | UnfavorableNeither favorable nor unfavorableFavorable |
Rudd Clothiers is a small company that manufactures tall-men’s suits. The company has used a standard...
Rudd Clothiers is a small company that manufactures tall-men’s
suits. The company has used a standard cost accounting system. In
May 2017, 10,600 suits were produced. The following standard and
actual cost data applied to the month of May when normal capacity
was 16,000 direct labor hours. All materials purchased were
used.
Cost Element
Standard (per unit)
Actual
Direct materials
10 yards at $4.90 per
yard
$501,020 for 106,600 yards
($4.70 per yard)
Direct labor
1.20 hours at $13.00 per...
Rudd Clothiers is a small company that manufactures tall-men’s
suits. The company has used a standard cost accounting system. In
May 2017, 10,000 suits were produced. The following standard and
actual cost data applied to the month of May when normal capacity
was 14,500 direct labor hours. All materials purchased were
used.
Cost Element
Standard (per unit)
Actual
Direct materials
10 yards at $4.50 per yard
$443,080 for 100,700 yards ($4.40 per yard)
Direct labor
1.10 hours at $14.00 per...
Rudd Clothiers is a small company that manufactures tall-men’s suits. The company has used a standard cost accounting system. In May 2020, 10,100 suits were produced. The following standard and actual cost data applied to the month of May when normal capacity was 14,000 direct labor hours. All materials purchased were used. Cost Element Standard (per unit) Actual Direct materials 7 yards at $4.20 per yard $292,330 for 71,300 yards ($4.10 per yard) Direct labor 1.10 hours at $14.00 per...
Rudd Clothiers is a small company that manufactures tall-men's suits. The company has used a standard cost accounting system. In May 2020, 10,200 suits were produced. The following standard and actual cost data applied to the month of May when normal capacity was 13,770 direct labor hours. All materials purchased were used. Standard (per unit) Cost Element Actual $402,780 for 82,200 yards ($4.90 per yard) 8 yards at $5.00 per yard Direct materials 1.45 hours at $13.20 per hour $212,213...
Flint Clothiers is a small company that manufactures tall-men’s
suits. The company has used a standard cost accounting system. In
May 2017, 10,000 suits were produced. The following standard and
actual cost data applied to the month of May when normal capacity
was 14,500 direct labor hours. All materials purchased were used.
Part B.
Problem 15-3 (Part Level Submission) Flint Clothiers is a small company that manufacturas tall-men's suits. The company has used a standard cost accounting system. In May...
Flint Clothiers is a small company that manufactures tall-men’s
suits. The company has used a standard cost accounting system. In
May 2017, 10,000 suits were produced. The following standard and
actual cost data applied to the month of May when normal capacity
was 14,500 direct labor hours. All materials purchased were
used.
Problem 15-3 (Part Level Submission) Flint Clothiers is a small company that manufacturas tall-men's suits. The company has used a standard cost accounting system. In May 2017, 10,000...
Problem 23-3A Rudd Clothiers is a small company that manufactures talmen's suits. The company has used a standard cost accounting system. In May 2017, 10,500 suits were produced. The following standard and actual cost data applied to the month of May when normal capacity was 13,000 direct labor hours. All materials purchased were used Cost Element Direct materiais Direct labor Overhead Standard (per unit) 7 yards at 54.00 per yard 1.10 hours at $13.00 per hour 1.10 hours at $6.40...
Problem 26-03A a-b (Video) Rudd Clothiers is a small company that manufactures tall-men's suits. The company has used a standard cost accounting system. In May 2020, 10,600 suits were produced. The following standard and actual cost data applied to the month of May when normal capacity was 13,000 direct labor hours. All materials purchased were used. Cost Element Actual Direct materials Direct labor Overhead Standard (per unit) 6 yards at $4.00 per yard 1.10 hours at $14.00 per hour 1.10...
FULL SCREtN PRINTER VERSION ㅖ BACK NEXT Rudd Clothiers is a small company that manufactures tall-men's suits. The company has used a standard cost accounting system. In May 2017, 10,100 suits were produced. The following standard and actual cost data applied to the month of May when normal capacity was 14,000 direct labor hours. All materials purchased were used. Standard (per unit) Actual Cost Element Direct materials Direct labor Overhead 9 yards at $4.00 per yard 1.10 hours at $14.00...
Question 9
Sheridan Corporation manufactures a single product. The standard
cost per unit of product is shown below.
Direct materials—1 pound plastic at $7.00 per pound
$ 7.00
Direct labor—1.5 hours at $11.10 per hour
16.65
Variable manufacturing overhead
9.00
Fixed manufacturing overhead
9.00
Total standard cost per unit
$41.65
The predetermined manufacturing overhead rate is $12.00 per direct
labor hour ($18.00 ÷ 1.5). It was computed from a master
manufacturing overhead budget based on normal production of 9,000
direct...