Use the following data to calculate the cost per unit of service as well as the rate and efficiency variance in suppli...
Use the following data to calculate the cost per unit of service as well as the rate and efficiency variance in supplies given the following data:
Actual Budget Variance
Units 280 250 30
Supplies Expense $186,500 $141,000 $45,500
Submit your three answers (Cost per Unit, rate variance and efficiency variance)
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Use the following data to calculate the cost per unit of service as well as the rate and efficiency variance in suppli...
Use the following data to find the direct labor efficiency variance if the company produced 3,500...
Use the following data to find the direct labor efficiency variance if the company produced 3,500 units during the period. Direct labor standard (4 hrs. @ $6.95/hr.) $ 27.80 per unit Actual hours worked 12,100 Actual rate per hour $ 7.40 Multiple Choice $5,445 unfavorable. $6,300 unfavorable. $6,300 favorable. $13,205 favorable. $5,445 favorable
Martin Williams, manager of Williams Contracting, wants to compute the variable overhead efficiency variance for the...
Martin Williams, manager of Williams Contracting, wants to compute the variable overhead efficiency variance for the year. He has the following details: Variable overhead flexible budget variance (unfavorable) - $23,625 Budgeted input quantity allowed for actual output - 9,000 units Actual input quantity used of cost-allocation base used - 10,125 units Budgeted variable overhead cost per unit of cost-allocation base - $30 Actual variable overhead cost per unit of cost-allocation base - $29 What will be the variable overhead efficiency...
Standard Cost per Unit Actual Cost per Unit $ 3.96 $ 4.20 12.60 Direct materials: Standard: 1.80 feet at $2.20 per foot...
Standard Cost per Unit Actual Cost per Unit $ 3.96 $ 4.20 12.60 Direct materials: Standard: 1.80 feet at $2.20 per foot Actual: 1.75 feet at $2.40 per foot Direct labor: Standard: 0.90 hours at $14.00 per hour Actual: 0.95 hours at $13.40 per hour Variable overhead: Standard: 0.90 hours at $5.00 per hour Actual: 0.95 hours at $4.60 per hour Total cost per unit Excess of actual cost over standard cost per unit 12.73 4.50 4.37 $ 21.30 $21.06...
Use the following data to find the direct labor efficiency variance if the company produced 3,500...
Use the following data to find the direct labor efficiency variance if the company produced 3,500 units during the period. Direct labor standard (4 hrs. @ $12/hr.) Actual hours worked Actual rate per hour $ 48 per unit 12,250 $ 12.50 - Ο $21,000 favorable. Ο $6,125 unfavorable. Ο $6,125 favorable. Ο $7,000 unfavorable. Ο $7,000 favorable.
Crystal Glassware Company has the following standards and flexible-budget data. Standard variable-overhead rate Standard quantity of...
Crystal Glassware Company has the following standards and flexible-budget data. Standard variable-overhead rate Standard quantity of direct labor Budgeted fixed overhead Budgeted output $ 6.00 per direct-labor hour 2 hours per unit of output $144,000 24,000 units Actual results for April are as follows: 1 + Actual output Actual variable overhead Actual fixed overhead Actual direct labor 17,000 units $306,000 $141,000 50,000 hours Required: Use the variance formulas to compute the following variances. (Indicate the effect of each variance by...
**I have found the correct answers for everything but price variance and efficiency variance. Please show...
**I have found the correct answers for everything but price
variance and efficiency variance. Please show work. Thank you
Problem 16-59 Manufacturing Variances (LO 16-5) Delta Products prepares its budgets on the basis of standard costs. A responsibility report is prepared monthly showing the differences between master budget and actual results. Variances are analyzed and reported separately. There are no materials inventories. The following information relates to the current period Standard costs (per unit of output) Direct materials, 7 gallonsS4.00...
Toronto Company's budget and actual costs per unit are provided below for the most recent period....
Toronto Company's budget and actual costs per unit are provided below for the most recent period. During this period, 700 units were actually produced Product Budget Cost Product Actual Cost $22.00 $19.76 Materials Budget Actual Direct labour Budget Actual Variable overhead Budget Actual Total unit cost Metres 5.5 5.2 Hours 4 3.7 Unit Price Per Metre $4.00 $3.80 Hourly Rate $5.00 $5.50 $20.00 $20.35 Hours Hourly Rate 4 3.81 $14.00 $3.50 $3.10 $11.78 $51.89 $56.00 Required: Given the information above,...
Standard Direct Materials Cost per Unit from Variance Data The following data relating to direct materials cost for Octo...
Standard Direct Materials Cost per Unit from Variance Data The following data relating to direct materials cost for October of the current year are taken from the records of Good Clean Fun Inc., a manufacturer of organic toys: Quantity of direct materials used 4,900 lbs. Actual unit price of direct materials $4.30 per lb. Units of finished product manufactured 2,350 units Standard direct materials per unit of finished product 2 lbs. Direct materials quantity variance—unfavorable $880 Direct materials price variance—favorable...
Standard Direct Materials Cost per Unit from Variance Data The following data relating to direct materials...
Standard Direct Materials Cost per Unit from Variance Data The following data relating to direct materials cost for October of the current year are taken from the records of Good Clean Fun Inc., a manufacturer of organic toys: 7,100 lbs. Quantity of direct materials used Actual unit price of direct materials $3.80 per lb. 3,410 units Units of finished product manufactured 2 lbs Standard direct materials per unit of finished product Direct materials quantity variance-unfavorable $1,092 Direct materials price variance-favorable...
Standard Direct Materials Cost per Unit from Variance Data The following data relating to direct materials...
Standard Direct Materials Cost per Unit from Variance Data The following data relating to direct materials cost for October of the current year are taken from the records of Good Clean Fun Inc., a manufacturer of organic toys: Quantity of direct materials used 6,200 lbs. Actual unit price of direct materials $3.9 per lb. Units of finished product manufactured 1,490 units Standard direct materials per unit of finished product 4 lbs. Direct materials quantity variance—unfavorable $984 Direct materials price variance—favorable...
Standard Cost per Unit Actual Cost per Unit $ 3.96 $ 4.20 12.60 Direct materials: Standard: 1.80 feet at $2.20 per foot Actual: 1.75 feet at $2.40 per foot Direct labor: Standard: 0.90 hours at $14.00 per hour Actual: 0.95 hours at $13.40 per hour Variable overhead: Standard: 0.90 hours at $5.00 per hour Actual: 0.95 hours at $4.60 per hour Total cost per unit Excess of actual cost over standard cost per unit 12.73 4.50 4.37 $ 21.30 $21.06...
Use the following data to find the direct labor efficiency variance if the company produced 3,500 units during the period. Direct labor standard (4 hrs. @ $12/hr.) Actual hours worked Actual rate per hour $ 48 per unit 12,250 $ 12.50 - Ο $21,000 favorable. Ο $6,125 unfavorable. Ο $6,125 favorable. Ο $7,000 unfavorable. Ο $7,000 favorable.
Crystal Glassware Company has the following standards and flexible-budget data. Standard variable-overhead rate Standard quantity of direct labor Budgeted fixed overhead Budgeted output $ 6.00 per direct-labor hour 2 hours per unit of output $144,000 24,000 units Actual results for April are as follows: 1 + Actual output Actual variable overhead Actual fixed overhead Actual direct labor 17,000 units $306,000 $141,000 50,000 hours Required: Use the variance formulas to compute the following variances. (Indicate the effect of each variance by...
**I have found the correct answers for everything but price
variance and efficiency variance. Please show work. Thank you
Problem 16-59 Manufacturing Variances (LO 16-5) Delta Products prepares its budgets on the basis of standard costs. A responsibility report is prepared monthly showing the differences between master budget and actual results. Variances are analyzed and reported separately. There are no materials inventories. The following information relates to the current period Standard costs (per unit of output) Direct materials, 7 gallonsS4.00...
Toronto Company's budget and actual costs per unit are provided below for the most recent period. During this period, 700 units were actually produced Product Budget Cost Product Actual Cost $22.00 $19.76 Materials Budget Actual Direct labour Budget Actual Variable overhead Budget Actual Total unit cost Metres 5.5 5.2 Hours 4 3.7 Unit Price Per Metre $4.00 $3.80 Hourly Rate $5.00 $5.50 $20.00 $20.35 Hours Hourly Rate 4 3.81 $14.00 $3.50 $3.10 $11.78 $51.89 $56.00 Required: Given the information above,...
Standard Direct Materials Cost per Unit from Variance Data The following data relating to direct materials cost for October of the current year are taken from the records of Good Clean Fun Inc., a manufacturer of organic toys: 7,100 lbs. Quantity of direct materials used Actual unit price of direct materials $3.80 per lb. 3,410 units Units of finished product manufactured 2 lbs Standard direct materials per unit of finished product Direct materials quantity variance-unfavorable $1,092 Direct materials price variance-favorable...
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