Determining the reasons for variances is an important part of the overall process of variance analysis....
Determining the reasons for variances is an important part of the overall process of variance analysis. Certain causes are commonly attributed to specific variances. Match each reason on the left with the variance(s) it commonly creates. Each numbered item has one or more correct answer(s). Each lettered item may be used once, more than once, or not at all.
- A change in the quality of materials purchased
- A new supplier contract
- Error in the accounting records
- Change in proportion of spoiled materials
- Unreasonable standard
- Unanticipated overtime hours
- A change in the government-mandated minimum wage
- Equipment malfunction
- A change in average worker experience or training
|
A |
Direct materials price variance |
|
B |
Direct materials quantity variance |
|
C |
Direct labor rate variance |
|
D |
Direct labor efficiency |
Homework Answers
| A change in the quality of materials purchased | A , B |
| A new supplier contract | A , B |
| Error in the accounting records | No letter |
| Change in proportion of spoiled materials | B |
| Unreasonable standard | No letter |
| Unanticipated overtime hours | C, D |
| A change in the government-mandated minimum wage | C |
| Equipment malfunction | No letter |
| A change in average worker experience or training | D |
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Determining the reasons for variances is an important part of
the overall process of variance analysis....
Determining Unit Costs, Variance Analysis, and Interpretation Big Dog Company, a manufacturer of dog food, produces...
Determining Unit Costs, Variance Analysis, and Interpretation Big Dog Company, a manufacturer of dog food, produces its product in 1,000-bag batches. The standard cost of each batch consists of 7,000 pounds of direct materials at $0.40 per pound, 50 direct labor hours at $8.50 per hour, and variable overhead cost (based on machine hours) at the rate of $10 per hour with 18 machine hours per batch. The following variable costs were incurred for the last 1,000-bag batch produced: Direct...
Please show all work to get to answer. Determining Unit Costs, Variance Analysis, and Interpretation Big Dog Company, a...
Please show all work to get to answer.
Determining Unit Costs, Variance Analysis, and Interpretation Big Dog Company, a manufacturer of dog food, produces its product in 1,000-bag batches. The standard cost of each batch consists of 6,000 pounds of direct materials at $0.30 per pound, 48 direct labor hours at $8.50 per hour, and variable overhead cost (based on machine hours) at the rate of $10 per hour with 18 machine hours per batch. The following variable costs were...
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please answer the questions! thank you Problem 10-14 Basic Variance Analysis (L010-1, LO10-2, LO10-31 Becton La...
please answer the questions!
thank you
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Problem 10-14 Basic Variance Analysis [LO10-1, LO10-2, LO10-3] Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, called Fludex, is prepared using an elaborate distilling process. The company has developed standard costs for one unit of Fludex, as follows: Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard Quantity or Hours 2.30 ounces 0.60 hours 0.60 hours Standard Price or Rate $17.00 per ounce $13.00 per hour $ 2.50 per hour Standard Cost...
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Problem 10-14 Basic Variance Analysis [LO10-1, LO10-2, LO10-3] Becton Labs, Inc., produces various chemical compounds for Industrial use. One compound, called Fludex, is prepared using an elaborate distilling process. The company has developed standard costs for one unit of Fludex, as follows: Standard Quantity or Hours 2.5 ounces 1.4 hours 1.4 hours Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard Price or Rate $20.00 per ounce $22.50 per hour $ 3.50 per hour Standard Cost...
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Problem 10-14 Basic Variance Analysis [LO10-1, LO10-2, LO10-3] Becton Labs, Inc., produces various chemical compounds for...
Problem 10-14 Basic Variance Analysis [LO10-1, LO10-2, LO10-3] Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, called Fludex, is prepared using an elaborate distilling process. The company has developed standard costs for one unit of Fludex, as follows: Standard Quantity Standard Price or Rate Standard Cost Direct materials 2.5 ounces $ 20.00 per ounce $ 50.00 Direct labor 1.4 hours $ 12.50 per hour 17.50 Variable manufacturing overhead 1.4 hours $ 3.50 per hour 4.90 $...
Determining Unit Costs, Variance Analysis, and Interpretation Big Dog Company, a manufacturer of dog food, produces its product in 1,000-bag batches. The standard cost of each batch consists of 7,000 pounds of direct materials at $0.40 per pound, 50 direct labor hours at $8.50 per hour, and variable overhead cost (based on machine hours) at the rate of $10 per hour with 18 machine hours per batch. The following variable costs were incurred for the last 1,000-bag batch produced: Direct...
Please show all work to get to answer.
Determining Unit Costs, Variance Analysis, and Interpretation Big Dog Company, a manufacturer of dog food, produces its product in 1,000-bag batches. The standard cost of each batch consists of 6,000 pounds of direct materials at $0.30 per pound, 48 direct labor hours at $8.50 per hour, and variable overhead cost (based on machine hours) at the rate of $10 per hour with 18 machine hours per batch. The following variable costs were...
please answer the questions!
thank you
Problem 10-14 Basic Variance Analysis (L010-1, LO10-2, LO10-31 Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, called Fludex is prepared using an elaborate distilling process. The company has developed standard costs for one unit of Fludex, as follows: Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard Quantity or Hours 2.6 ounces 0.60 hours 0.60 hours Standard Price or Rate $20.00 per ounce $16.00 per hour...
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Problem 10-14 Basic Variance Analysis [LO10-1, LO10-2, LO10-3] Becton Labs, Inc., produces various chemical compounds for Industrial use. One compound, called Fludex, is prepared using an elaborate distilling process. The company has developed standard costs for one unit of Fludex, as follows: Standard Quantity or Hours 2.5 ounces 1.4 hours 1.4 hours Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard Price or Rate $20.00 per ounce $22.50 per hour $ 3.50 per hour Standard Cost...
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