Solution
Material Price Variance | $ 24,820.00 | Favourable-F |
Material quantity variance | $ 41,140.00 | Unfavourable-U |
Total Material Variance | $ 16,320.00 | Unfavourable-U |
Labor rate variance | $ 666,000.00 | Unfavourable-U |
Labor Efficiency variance | $ 624,000.00 | Favourable-F |
Total Labor variance | $ 42,000.00 | Unfavourable-U |
Variable Overhead Rate Variance | $ 48,000.00 | Unfavourable-U |
Variable Overhead Efficiency Variance | $ 46,800.00 | Favourable-F |
Variable Overhead Spending Variance | $ 1,200.00 | Unfavourable-U |
Working
Actual DATA for | 140000 | Units | |
Quantity (AQ) | Rate (AR) | Actual Cost | |
Direct Material | 248200 | $ 1.60 | $ 397,120.00 |
Direct labor | 185000 | $ 19.60 | $ 3,626,000.00 |
Variable Overhead | 185000 | $ 1.46 | $ 270,000.00 |
.
Standard DATA for | 140000 | Units | |
Quantity (SQ) | Rate (SR) | Standard Cost | |
[A] | [B] | [A x B] | |
Direct Material | ( 1.6 lbs x 140000 Units)=224000 lbs | $ 1.70 | $ 380,800.00 |
Direct labor | ( 1.6 Hour x 140000 Units)=224000 Hour | $ 16.00 | $ 3,584,000.00 |
Variable Overhead | ( 1.6 Hour x 140000 Units)=224000 Hour | $ 1.20 | $ 268,800.00 |
.
Material Price Variance | ||||||
( | Standard Rate | - | Actual Rate | ) | x | Actual Quantity |
( | $ 1.70 | - | $ 1.60 | ) | x | 248200 |
24820 | ||||||
Variance | $ 24,820.00 | Favourable-F | ||||
Material Quantity Variance | ||||||
( | Standard Quantity | - | Actual Quantity | ) | x | Standard Rate |
( | 224000 | - | 248200 | ) | x | $ 1.70 |
-41140 | ||||||
Variance | $ 41,140.00 | Unfavourable-U | ||||
Material Spending Variance | ||||||
( | Standard Cost | - | Actual Cost | ) | ||
( | $ 380,800.00 | - | $ 397,120.00 | ) | ||
-16320 | ||||||
Variance | $ 16,320.00 | Unfavourable-U | ||||
Labor Rate Variance | ||||||
( | Standard Rate | - | Actual Rate | ) | x | Actual Labor Hours |
( | $ 16.00 | - | $ 19.60 | ) | x | 185000 |
-666000 | ||||||
Variance | $ 666,000.00 | Unfavourable-U | ||||
Labour Efficiency Variance | ||||||
( | Standard Hours | - | Actual Hours | ) | x | Standard Rate |
( | 224000 | - | 185000 | ) | x | $ 16.00 |
624000 | ||||||
Variance | $ 624,000.00 | Favourable-F | ||||
Labor Spending Variance | ||||||
( | Standard Cost | - | Actual Cost | ) | ||
( | $ 3,584,000.00 | - | $ 3,626,000.00 | ) | ||
-42000 | ||||||
Variance | $ 42,000.00 | Unfavourable-U | ||||
Variable Overhead Rate Variance | ||||||
( | Standard Rate | - | Actual Rate | ) | x | Actual Labor Hours |
( | $ 1.20 | - | $ 1.46 | ) | x | 185000 |
$ (48,000.00) | ||||||
Variance | $ 48,000.00 | Unfavourable-U | ||||
Variable Overhead Efficiency Variance | ||||||
( | Standard Hours | - | Actual Hours | ) | x | Standard Rate |
( | 224000 | - | 185000 | ) | x | $ 1.20 |
$ 46,800.00 | ||||||
Variance | $ 46,800.00 | Favourable-F | ||||
Variable Overhead Spending Variance | ||||||
( | Standard Cost | - | Actual Cost | ) | ||
( | $ 268,800.00 | - | $ 270,000.00 | ) | ||
-1200 | ||||||
Variance | $ 1,200.00 | Unfavourable-U |
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 Quantity 1.70 lbs 1.70 hrs. Standard Price (Rate) $ 1.8e per lb. $10.00 per hr. Standard Unit Cost $ 3.06 17.00 Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($346,500.00 165,808.88 units) 1.70 hrs. $ 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 pounds...
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 ($273,000.00 = 105,000.00 units) Standard Quantity 1.60 lbs. 1.60 hrs. 1.60 hrs. Standard Price (Rate) $ 1.70 per lb. $ 10.00 per hr. $ 1.10 per hr. Standard Unit Cost $ 2.72 16.00 1.76 2.60 Barley Hopp had the following actual results last year: Number of units produced and sold Number...
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 ($275,000.00 + 110,000.00 units) Standard Quantity 1.60 lbs. 1.60 hrs. 1.60 hrs. Standard Price (Rate) $ 1.70 per lb. $11.00 per hr. $ 1.10 per hr. Standard Unit Cost $ 2.72 17.60 1.76 2.50 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 Quantity 1.60 lbs. Standard Unit Cost $ 2.72 Standard Price (Rate) $ 1.70 per lb. $10.00 per hr. 1.10 per hr. Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($273,000.00 105,000.00 units) 1.60 hrs 1,60 hrs 16.00 1.76 2.60 Barley Hopp had the following actual results last year: Number of units produced and sold Number of pounds 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: 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 ($396,000.00 - 180,000.00 units) Standard Quantity 1.80 lbs. 1.80 hrs. 1.80 hrs. Standard Price (Rate) $ 1.90 per Ib. $11.00 per hr. $ 1.10 per hr. Standard Unit Cost $ 3.42 19.80 1.98 2.20 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...
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 ($520,000.00 - 200,000.00 units) Standard Quantity 1.90 lbs. 1.90 hrs. 1.90 hrs. Standard Price (Rate) $ 2.00 per lb. $15.00 per hr. $ 1.20 per hr. Standard Unit Cost $ 3.80 28.50 2.28 2.60 Barley Hopp had the following actual results last year: Number of units produced and sold Number of...