1) Direct Material Variances: |
DM price variance = actual cost - (standard rate*actual DM used) |
DM price variance = 585580 - (1.80*308200) = 30820 U |
DM quantity variance = (DM usage at standard norms for prod.* standard rate) - (actual usage * Standard rate) |
DM quantity variance = (170000 * 1.7 * 1.80) - (308200 * 1.80)= 34560 U |
DM spending variance = DM price variance + DM quantity variance |
DM spending variance = 30820U + 34560U = 65380 U |
2) Direct Labor Variances: |
DL rate variance = actual cost - (standard rate*actual Labor hours used) |
DL rate variance = 2795000 - (10*215000) = 645000 U |
DL efficiency variance = (Lab. hours usage at standard norms for prod. * standard rate) - (actual hours * Standard rate) |
DL efficiency variance = (170000 * 1.7 * 10) - (215000 * 10)= 740000 F |
DL spending variance = DL Rate variance + DL efficiency variance |
DL spending variance = 645000U + 740000F= 95000 F |
3) Variable overhead Variances: |
VO rate variance = actual cost - (standard rate*actual Labor hours used) |
VO rate variance = 330000 - (1.40*215000) = 29000 U |
VO efficiency variance = (Lab. hours usage at standard norms for prod. * standard rate) - (actual hours * Standard rate) |
VO efficiency variance = (170000 * 1.7 * 1.40) - (215000 * 1.40)= 103600 F |
VO spending variance = VO Rate variance + VO efficiency variance |
VO spending variance = 29000U + 103600F= 74600 F |
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standa...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Standard Price Standard Quantity 1.60 lbs. (Rate) $ 1.70 per lb. $16.00 per hr. Unit Cost Direct materials (clay) 2.72 Direct labor 1,60 hrs. 25.60 Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($364,500.00 135,000.00 units) 1.20 per hr 1.60 hrs 1.92 2,70 Barley Hopp had the following actual results last year: Number of units produced and sold Number of pounds of clay...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows. Direct materials (clay) Standard Quantity 1.70 lbs. Standard Standard Price (Rate) Unit Cost $ 1.89 $ 3.86 1.70 hrs. $ 10.00 per hr. 17.00 Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($346,500.00 + 165,000.00 units) per 1.70 hrs. $ 1.40 hr. 2.38 2.10 Barley Hopp had the following actual results last year Number of units produced and sold 170,000 Number of...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Quantity 1.68 lbs 1.6e hrs. Standard Price (Rate) $ 1.70 per lb. $16.00 per hr. Standard Unit Cost $ 2.72 25.68 Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($374,000.e0 +170,e00.00 units) $ 1.38 per hr. 1.60 hrs. 2.08 2.20 Barley Hopp had the following actual results last year Number of units produced and sold Number of pounds...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Quantit Direct materials (clay) 1.70 lbs. Direct labor 1.70 hrs. Variable manufacturing overhead (based on direct labor hours) 1.70 hrs. Fixed manufacturing overhead ($346,500.00 165,000.00 units Standard Price a te $ 1.80 per 1b. $10.00 per hr. Standard Unit Cout 5 3.06 17.00 $ 1.40 per hr. 2.38 2.10 Barley Hopp had the following actual results last year: Number of units produced and sold Number of...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost Information follows: Standard Standard Price Standard Quantity 1.7e lbs 1.7e hrs (Rate) 1.80 per 1b $13.00 per hr. Unit Cost Direct materials (clay) 3.06 Direct labor 22.10 Variable manufacturing overhead (based on direct labor hours) 1.7e hrs 1.1 per hr. 1.87 Fixed manufacturing overhead ($276,eee.ee 120, eee.ee units) 2.30 Barley Hopp had the following actual results last year Number of units produced and sold Number of pounds of clay...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Quantity 1.60 lbs. 1.60 hrs. Standard Price (Rate) $ 1.78 per lb. $16.00 per hr. Standard Unit Cost $ 2.72 25.60 Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead (5364,500.00 + 135,000.00 units) 1.60 hrs. $ 1.20 per hr. 1.92 2.70 Barley Hopp had the following actual results last year: Number of units produced and sold Number of...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Standard Price Standard Unit Cost 3.06 17.00 Quantity 1.7e lbs. 1.7e hrs (Rate) 1.80 per 1b $1e.ee per hr Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($482,508.ee 175,eee.ee units) 1.7e hrs 1.1e per hr 1.87 2.30 Barley Hopp had the following actual results last year Number of units produced and sold Number of pounds of clay used...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($356,500.00 = 155,000.00 units) Standard Quantity 1.70 lbs. 1.70 hrs. 1.70 hrs. Standard Price (Rate) $ 1.80 per lb. $13.00 per hr. $ 1.40 per hr. Standard Unit Cost $ 3.06 22.10 2.38 2.30 Barley Hopp had the following actual results last year: Number of units produced and sold Number of...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead (5356.500.00 - 155,000.00 units) Standard Quantity 1.70 lbs. 1.70 hrs. 1.70 hrs. Standard Price (Rate) $ 1.80 per lb. $13.00 per hr. $ 1.40 per hr. Standard Unit Cost $ 3.06 22.10 2.38 2.30 Barley Hopp had the following actual results last year: Number of units produced and sold Number of...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($425,500.00 + 185,000.00 units) Standard Quantity 1.70 lbs. 1.70 hrs. 1.70 hrs. Standard Price (Rate) $ 1.80 per lb. $12.00 per hr. $ 1.10 per hr. Standard Unit Cost $ 3.06 20.40 1.87 2.30 Barley Hopp had the following actual results last year: Number of units produced and sold Number of...