Solution
Material Price Variance | $ 2,190.00 | Favourable-F |
Material quantity variance | $ 2,945.25 | Unfavourable-U |
Labor rate variance | $ 2,079.00 | Unfavourable-U |
Labor Efficiency variance | $ 2,040.00 | Unfavourable-U |
Alternate answer for material price variance
Material Price Variance | $ 1,338.75 | Favourable-F |
Working
Standard DATA for | 5100 | Units | |
Quantity (SQ) | Rate (SR) | Standard Cost | |
[A] | [B] | [A x B] | |
Direct Material | ( 7 microns x 5100 Units)=35700 microns | $ 0.33 | $ 11,781.00 |
Direct labor | ( 1.3 Hour x 5100 Units)=6630 Hour | $ 6.80 | $ 45,084.00 |
.
Actual DATA for | 5100 | Units | |
Quantity (AQ) | Rate (AR) | Actual Cost | |
Direct Material | 44625 | $ 0.30 | $ 13,387.50 |
Direct labor | 6930 | $ 7.10 | $ 49,203.00 |
Material Price Variance | ||||||
( | Standard Rate | - | Actual Rate | ) | x | Actual Quantity |
( | $ 0.33 | - | $ 0.30 | ) | x | 44625 |
1338.75 | ||||||
Variance | $ 1,338.75 | Favourable-F | ||||
Material Quantity Variance | ||||||
( | Standard Quantity | - | Actual Quantity | ) | x | Standard Rate |
( | 35700 | - | 44625 | ) | x | $ 0.33 |
-2945.25 | ||||||
Variance | $ 2,945.25 | Unfavourable-U | ||||
Labor Rate Variance | ||||||
( | Standard Rate | - | Actual Rate | ) | x | Actual Labor Hours |
( | $ 6.80 | - | $ 7.10 | ) | x | 6930 |
-2079 | ||||||
Variance | $ 2,079.00 | Unfavourable-U | ||||
Labour Efficiency Variance | ||||||
( | Standard Hours | - | Actual Hours | ) | x | Standard Rate |
( | 6630 | - | 6930 | ) | x | $ 6.80 |
-2040 | ||||||
Variance | $ 2,040.00 | Unfavourable-U |
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 7 microns per toy at $0.34 per micron Direct labor: 1.1 hours per toy at $6.80 per hour During July, the company produced 5,000 Maze toys. The toy's production data for the month are as follows: Direct materials: 72,000 microns were purchased at a cost of...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 7 microns per toy at $0.33 per micron Direct labor: 1.3 hours per toy at $6.50 per hour During July, the company produced 5,000 Maze toys. The toy's production data for the month are as follows: Direct materials: 79,000 microns were purchased at a cost of...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 8 microns per toy at $0.34 per micron Direct labor: 1.1 hours per toy at $6.80 per hour During July, the company produced 4,800 Maze toys. Production data for the month on the toy follow: Direct materials: 71,000 microns were purchased at a cost of $0.33...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 7 microns per toy at $0.31 per micron Direct labor: 1.1 hours per toy at $6.80 per hour During July, the company produced 5,500 Maze toys. The toy's production data for the month are as follows: Direct materials: 77,000 microns were purchased at a cost of...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 7 microns per toy at $0.32 per micron Direct labor: 1.3 hours per toy at $6.80 per hour During July, the company produced 5,300 Maze toys. The toy's production data for the month are as follows: Direct materials: 79,000 microns were purchased at a cost of...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 8 microns per toy at $0.32 per micron Direct labor: 1.4 hours per toy at $7.10 per hour During July, the company produced 4,700 Maze toys. The toy's production data for the month are as follows: Direct materials: 73,000 microns were purchased at a cost of...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 8 microns per toy at $0.33 per micron Direct labor: 1.4 hours per toy at $7.10 per hour During July, the company produced 4,900 Maze toys. The toy's production data for the month are as follows: Direct materials: 79,000 microns were purchased at a cost of...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 6 microns per toy at $0.33 per micron Direct labor: 1.4 hours per toy at $7.30 per hour During July, the company produced 5,200 Maze toys. The toy's production data for the month are as follows: Direct materials: 76,000 microns were purchased at a cost of...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 7 microns per toy at $0.34 per micron Direct labor: 1.3 hours per toy at $7.50 per hour During July, the company produced 4,700 Maze toys. The toy's production data for the month are as follows: Direct materials: 72,000 microns were purchased at a cost of...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 7 microns per toy at $0.35 per micron Direct labor: 1.5 hours per toy at $7.10 per hour During July, the company produced 4,500 Maze toys. The toy's production data for the month are as follows: Direct materials: 70,000 microns were purchased at a cost of...