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1a) | |||
Material Price Variance | |||
(Standard Price-Actual Price)*Actual Quantity | |||
(4.80-5.20)*19500*1.85 | |||
-14430 | (Unfavorable) | ||
Material Quantity Varaince | |||
(Standard Quantity for Actual Output-Actual Output)*Standard Price | |||
(1.90*19500-19500*1.85)*4.80 | |||
4680 | (Favorable) | ||
1b) | |||
Labor Rate Variance | |||
(Standard Rate-Actual Rate)*Actual Hours | |||
(20-19.50)*19500*1.50 | |||
14625 | (Favorable) | ||
Labor Efficiency Variance | |||
(Standard Hours for Actual Output-Actual Hours)*Standard Rate | |||
(1.45*19500-1.50*19500)*20 | |||
-19500 | (Unfavorable) | ||
1c) | |||
Variable Overhead rate Variance | |||
(Standard Rate-Actual Rate)*Actual Hours | |||
(10-9.60)*1.50*19500 | |||
11700 | (Favorable) | ||
Variable overhead efficiency Variance | |||
(Standard Hours for Actual Output-Actual Hours)*Standard Rate | |||
(1.45*19500-1.50*19500)*10 | |||
-9750 | (Unfavorable) | ||
Materials | |||
Price Variance | -14430 | ||
Quantity Variance | 4680 | ||
Labor | |||
Rate Variance | 14625 | ||
Efficiency Variance | -19500 | ||
Variable Overhead | |||
Rate Variance | 11700 | ||
Efficiency Variance | -9750 | ||
Sum of Variances | -12675 | ||
Excess of actual over | -0.65 | (12675/19500) | |
Standard Cost per unit | |||
Excess of actual over standard cost per unit | -0.65 | ||
Less: Poriton attributable to labor inefficiency: | |||
Labor efficiency Variance | -0.25 | ||
(14625-19500)/19500 | |||
Variable Overhead efficiency | 0.1 | -0.15 | |
variance | (11700-9750)/19500 | ||
Balance due to other variances | -0.5 |
1a. | Materials price variance | selected answer correct | 14,430Uselected answer correct |
Materials quantity variance | selected answer correct | 4,680Fselected answer correct | |
1b. | Labor rate variance | selected answer correct | 14,625Fselected answer correct |
Labor efficiency variance | selected answer correct | 19,500Uselected answer correct | |
1c. | Variable overhead rate variance | selected answer correct | 11,700Fselected answer correct |
Variable overhead efficiency variance | selected answer correct | 9,750U |
Materials: | ||||
Price variance | selected answer correct | 0.74Uselected answer correct | ||
Quantity variance | 0.24selected answer correct | Fselected answer correct | 0.50 | Uselected answer correct |
Labor: | ||||
Rate variance | 0.75selected answer correct | Fselected answer correct | ||
Efficiency variance | 1.00selected answer correct | Uselected answer correct | 0.25 | Uselected answer correct |
Variable overhead: | ||||
Rate variance | 0.60selected answer correct | Fselected answer correct | ||
Efficiency variance | 0.50selected answer correct | Uselected answer correct | 0.10 | Fselected answer correct |
Excess of actual over standard cost per unit | $0.65 | U |
Excess of actual over standard cost per unit | selected answer correct | 0.65Uselected answer correct | ||
Less portion attributable to labor inefficiency: | ||||
Labor efficiency variance | 1.00selected answer correct | Uselected answer correct | ||
Variable overhead efficiency variance | 0.50selected answer correct | Uselected answer correct | 1.50 | Uselected answer correct |
Portion due to other variances | $0.85 | F |
Need help with this question. correct answers please feel free to take your time. please help...
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> Thank you for the great answer!
Dash Heart Dunkle Sun, Feb 6, 2022 6:43 PM