Materials price variance = (Standard price - actual price) x
Material purchased
= {4.15 - $4.05} x 16000 = $1,600 Favorable
Materials quantity variance = (Standard quantity - actual
quantity used) x standard price
= {(30000*1/2) - 16,000} x $4.15 = $4150 Unfavorable
2. Labor rate variance = (Standard rate - actual rate) x Actual
hours used
= {12.50 - ($72085/5545)} x 5545 = $2772.5 Unfavorable
Labor efficiency variance = (Standard hours - actual hours) x
Standard rate
= {(30000*10/60) - 5545} x $12.50 = $6812.5 Unfavorable
The following infotmation describes production activities of the Central Corp.: Raw materials used...... .............
The following information describes production activities of Mercer Manufacturing for the year 16,000 lbs. at $4.05 per lb. 5,545 hours for a total of $105,355 30,000 Actual direct materials used Actual direct labor used Actual units produced Budgeted standards for each unit produced are 0.50 pounds of direct material at $4.00 per pound and 10 minutes of direct labor at $20 per hour (1) Compute the direct materials price and quantity variances. Actual Cost Standard Cost (2) Compute the direct...
The following information describes production activities of Mercer Manufacturing for the year Actual direct materials used 22,880 lbs. at $4.35 per lb. 6,575 hours for a total of Actual direct labor used $128,870 Actual units produced 36,000 Budgeted standards for each unit produced are 0.50 pounds of direct material at $4.30 per pound and 10 minutes of direct laborat $20.60 per hour AQ = Actual Quantity SQ = Standard Quantity AP - Actual Pnce SP = Standard Price AH =...
The following describes production activities of Mercer Manufacturing for the year. Actual direct materials used Actual direct labor used Actual units produced 29,000 lbs. at $5.19 per lb. 8,180 hours for a total of $164,430 48,000 Budgeted standards for each unit produced are 0.50 pound of direct material at $5.05 per pound and 10 minutes of direct laborat $22.00 per hour. AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate AQ = Actual...
The following information describes production activities of Mercer Manufacturing for the year. Actual direct materials used 24,000 lbs. at $4.45 per lb. Actual direct labor used 6,505 hours for a total of $128,799 Actual units produced 36,030 AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Budgeted standards for each unit produced are 0.50 pounds of direct...
The following describes production activities of Mercer Manufacturing for the year. Actual direct materials used 22,000 lbs. at $4.35 per lb. Actual direct labor used 6,575 hours for a total of $128,870 Actual units produced 36,000 Budgeted standards for each unit produced are 0.50 pound of direct material at $4.30 per pound and 10 minutes of direct labor at $20.60 per hour. AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate AQ =...
The following describes production activities of Mercer Manufacturing for the year. Actual direct materials used Actual direct labor used Actual units produced 31,000 lbs. at $5.80 per lb. 10,600 hours for a total of $217,300 63,000 1,600 hour. 29.9 5. IS DE $217,300 Budgeted standards for each unit produced are 0.50 pound of direct material at $5.75 per pound and 10 minutes of direct labor at $21.50 per hour. AH = Actual Hours SH = Standard Hours AR = Actual...
The following information describes production activities of Mercer Manufacturing for the year. Actual direct materials used 22,000 lbs. at $4.35 per lb. 6,575 hours for a total of Actual direct labor used $128,870 Actual units produced 36,000 Budgeted standards for each unit produced are 0.50 pounds of direct material at $4.30 per pound and 10 minutes of direct labor at $20.60 per hour. AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price AH...
The following describes production activities of Mercer Manufacturing for the year. Actual direct materials used Actual direct labor used Actual units produced 29,000 lbs. at $5.10 per lb. 8,100 hours for a total of $164,430 48,000 Budgeted standards for each unit produced are 0.50 pound of direct material at $5.05 per pound and 10 minutes of direct labor at $22.00 per hour AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate AQ =...
Exercise 21-15 Direct materials and direct labor variances LO P2 The following information describes production activities of Mercer Manufacturing for the year. Actual direct materials used Actual direct labor used Actual units produced 27,000 lbs. at $4.75 per lb. 8,600 hours for a total of $172,860 51,000 Budgeted standards for each unit produced are 0.50 pounds of direct material at $4.70 per pound and 10 minutes of direct labor at $21.00 per hour. AQ = Actual Quantity SQ = Standard...
The following Information describes production activities of Mercer Manufacturing for the year. 2:36:56 Netual direct materials used Actual direct labor used Actual units produced 23,000 lbs. at $4.40 per lb. 6,580 hours for a total of $129,626 36.000 Book Budgeted standards for each unit produced are 0.50 pounds of direct material at $4.20 per pound and 10 minutes of direct laborat $20.70 per hour. Print AQ - Actual Quantity SQ - Standard Quantity AP Actual Price SP = Standard Price...