Answers
Actual DATA for |
115000 |
units |
|
Quantity (AQ) |
Rate (AR) |
Actual Cost |
|
Direct Material |
198200 |
$ 1.60 |
$ 317,120.00 |
Direct labor |
160000 |
$ 13.00 |
$ 2,080,000.00 |
Variable Overhead |
160000 |
$ 1.38 |
$ 220,000.00 |
Standard DATA for |
115000 |
units |
|
Quantity (SQ) |
Rate (SR) |
Standard Cost |
|
[A] |
[B] |
[A x B] |
|
Direct Material |
( 1.6 lbs x 115000 units)=184000 lbs |
$ 1.70 |
$ 312,800.00 |
Direct labor |
( 1.6 hours x 115000 units)=184000 hours |
$ 11.00 |
$ 2,024,000.00 |
Variable Overhead |
( 1.6 hours x 115000 units)=184000 hours |
$ 1.10 |
$ 202,400.00 |
Material Price Variance |
||||||
( |
Standard Rate |
- |
Actual Rate |
) |
x |
Actual Quantity |
( |
$ 1.70 |
- |
$ 1.60 |
) |
x |
198200 |
19820 |
||||||
Variance |
$ 19,820.00 |
Favourable-F |
||||
Material Quantity Variance |
||||||
( |
Standard Quantity |
- |
Actual Quantity |
) |
x |
Standard Rate |
( |
184000 |
- |
198200 |
) |
x |
$ 1.70 |
-24140 |
||||||
Variance |
$ 24,140.00 |
Unfavourable-U |
||||
Material Spending Variance |
||||||
( |
Standard Cost |
- |
Actual Cost |
) |
||
( |
$ 312,800.00 |
- |
$ 317,120.00 |
) |
||
-4320 |
||||||
Variance |
$ 4,320.00 |
Unfavourable-U |
Labor Rate Variance |
||||||
( |
Standard Rate |
- |
Actual Rate |
) |
x |
Actual Labor Hours |
( |
$ 11.00 |
- |
$ 13.00 |
) |
x |
160000 |
-320000 |
||||||
Variance |
$ 320,000.00 |
Unfavourable-U |
||||
Labour Efficiency Variance |
||||||
( |
Standard Hours |
- |
Actual Hours |
) |
x |
Standard Rate |
( |
184000 |
- |
160000 |
) |
x |
$ 11.00 |
264000 |
||||||
Variance |
$ 264,000.00 |
Favourable-F |
||||
Labor Spending Variance |
||||||
( |
Standard Cost |
- |
Actual Cost |
) |
||
( |
$ 2,024,000.00 |
- |
$ 2,080,000.00 |
) |
||
-56000 |
||||||
Variance |
$ 56,000.00 |
Unfavourable-U |
Variable Overhead Rate Variance |
||||||
( |
Standard Rate |
- |
Actual Rate |
) |
x |
Actual Labor Hours |
( |
$ 1.10 |
- |
$ 1.38 |
) |
x |
160000 |
-44000 |
||||||
Variance |
$ 44,000.00 |
Unfavourable-U |
||||
Variable Overhead Efficiency Variance |
||||||
( |
Standard Hours |
- |
Actual Hours |
) |
x |
Standard Rate |
( |
184000 |
- |
160000 |
) |
x |
$ 1.10 |
26400 |
||||||
Variance |
$ 26,400.00 |
Favourable-F |
||||
Variable Overhead Spending Variance |
||||||
( |
Standard Cost |
- |
Actual Cost |
) |
||
( |
$ 202,400.00 |
- |
$ 220,000.00 |
) |
||
-17600 |
||||||
Variance |
$ 17,600.00 |
Unfavourable-U |
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (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 ($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 ($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...
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: 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. 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 1.70 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...