Homework Answers
| Actual Cost | Standard Cost | |||||||||
| AQ | AP | AQ*AP | AQ | SP | AQ*SP | SQ | SP | SQ*SP | ||
| 48500 | 8.10 | 392850 | 48500 | 8 | 388000 | 48000 | 8 | 384000 | ||
| 4850 | 4000 | |||||||||
| Material price variance | 4850 | Unfavorable | ||||||||
| Material quantity variance | 4000 | Unfavorable | ||||||||
| Total material variance | 8850 | Unfavorable | ||||||||
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A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $8 per lb.) (2 hrs. @ $15 per hr.) (2 hrs. @ $12 per hr.) Actual 47, 300 lbs. @ $8.10 per lb. 15, 300 hrs. @ $15.50 per hr. $192,900 7,800 Exercise 21-9 Direct materials variances LO P2 Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. AQ...
Required information The following information applies to the questions displayed below.) A manufactured product has the...
Required information The following information applies to the questions displayed below.) A manufactured product has the following information for June. Port 2013 Per 200 Actual lbs. @ $8.10 per 48,500 Direct materials points Standard (6 lbs. $8 per lb.) (2 hrs. @ $16 per hr.) (2 hrs. @ $12 per hr.) Direct labor 15,700 hrs. @ $16.50 per 15,790 hr. Overhead Units manufactured $198,000 8,000 Compute the direct materiais price variance and the direct materials quantity variance Indicate whether each...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $7 per lb.) (2 hrs. @ $16 per hr.) (2 hrs. @ $12 per hr.) Actual 47,200 lbs. @ $7.20 per lb. 15,300 hrs. $16.40 per hr. $ 193,600 7,800 Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorab unfavorable. AQ = Actual Quantity SQ = Standard Quantity AP = Actual...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard 6 lbs. @ $8 per lb. 2 hrs. @ $16 per hr. 2 hrs. @ $12 per hr. Actual 48,500 lbs. @ $8.10 per lb. 15,700 hrs. @ $16.50 per hr. $198,000 8,000 (1) Compute the standard cost per unit. (2) Compute the total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2...
A manufactured product has the following information for June. Standard Actual Direct materials (5 lbs. @...
A manufactured product has the following information for
June.
Standard
Actual
Direct materials
(5 lbs. @ $8 per lb.)
42,900
lbs. @ $8.10 per lb.
Direct labor
(3 hrs. @ $16 per hr.)
25,200
hrs. @ $16.50 per hr.
Overhead
(3 hrs. @ $11 per hr.)
$
287,400
Units manufactured
8,500
AQ = Actual Quantity
SQ = Standard Quantity
AP = Actual Price
SP = Standard Price
Compute the direct materials price variance and the direct
materials quantity variance. Indicate...
A manufactured product has the following information for June. Standard Actual Direct materials (7 lbs. @...
A manufactured product has the following information for June. Standard Actual Direct materials (7 lbs. @ $9 per lb.) 56,500 lbs. @ $9.10 per lb. Direct labor (3 hrs. @ $16 per hr.) 23,700 hrs. @ $16.50 per hr. Overhead (3 hrs. @ $11 per hr.) $ 270,100 Units manufactured 8,000 Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. AQ = Actual Quantity SQ = Standard Quantity AP...
A manufactured product has the following information for June. Standard Actual Direct materials (6 lbs. @...
A manufactured product has the following information for June. Standard Actual Direct materials (6 lbs. @ $8 per lb.) 48,500 lbs. @ $8.10 per lb. Direct labor (2 hrs. @ $16 per hr.) 15,700 hrs. @ $16.50 per hr. Overhead (2 hrs. @ $12 per hr.) $ 198,000 Units manufactured 8,000 (1) Compute the standard cost per unit. Direct materials Direct labor Overhead Total (2) Compute the total cost variance for June. Indicate whether the cost variance is favorable of...
A manufactured product has the following information for June. Standard Direct materialts Direct labor Overhead Units...
A manufactured product has the following information for June. Standard Direct materialts Direct labor Overhead Units manufactured (5 lbs. $8 per lb.) (2 hrs. $15 per hr.) (2 hrs. $11 per hr. $184,400 Actual 41,100 lbs. $8.20 per 1b. 15,900 hrs. $15.60 per hr. 8,100 Exercise 21-9 Direct materials variances LO P2 Compute the direct materials price variance and the direct materials quantity variance, Indicate whether each variance is fav unfavorable. AQ Actual Quantity SQ Standard Quantity AP Actual Price...
Required information (The following information applies to the questions displayed below.) A manufactured product has the...
Required information (The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (7 lbs. @ $9 per lb.) (3 hrs. @ $16 per hr.) (3 hrs. @$12 per hr.) Actual 62,000 lbs. @ $9.20 per lb. 26,000 hrs. @ $16.50 per hr. $323,000 8,800 Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable....
Required information [The following information applies to the questions displayed below.) A manufactured product has the...
Required information [The following information applies to the questions displayed below.) A manufactured product has the following information for June Direct materials Direct labor Overhead Units manufactured Standard 5 lbs. @ $8 per lb. 3 hrs. @ $17 per hr. 3 hrs. @ $13 per hr. Actual 42,100 lbs. @ $8.20 per lb. 24,500 hrs. @ $17.50 per hr. $329,000 8,300 Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance by...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $8 per lb.) (2 hrs. @ $15 per hr.) (2 hrs. @ $12 per hr.) Actual 47, 300 lbs. @ $8.10 per lb. 15, 300 hrs. @ $15.50 per hr. $192,900 7,800 Exercise 21-9 Direct materials variances LO P2 Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. AQ...
Required information The following information applies to the questions displayed below.) A manufactured product has the following information for June. Port 2013 Per 200 Actual lbs. @ $8.10 per 48,500 Direct materials points Standard (6 lbs. $8 per lb.) (2 hrs. @ $16 per hr.) (2 hrs. @ $12 per hr.) Direct labor 15,700 hrs. @ $16.50 per 15,790 hr. Overhead Units manufactured $198,000 8,000 Compute the direct materiais price variance and the direct materials quantity variance Indicate whether each...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $7 per lb.) (2 hrs. @ $16 per hr.) (2 hrs. @ $12 per hr.) Actual 47,200 lbs. @ $7.20 per lb. 15,300 hrs. $16.40 per hr. $ 193,600 7,800 Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorab unfavorable. AQ = Actual Quantity SQ = Standard Quantity AP = Actual...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard 6 lbs. @ $8 per lb. 2 hrs. @ $16 per hr. 2 hrs. @ $12 per hr. Actual 48,500 lbs. @ $8.10 per lb. 15,700 hrs. @ $16.50 per hr. $198,000 8,000 (1) Compute the standard cost per unit. (2) Compute the total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2...
A manufactured product has the following information for
June.
Standard
Actual
Direct materials
(5 lbs. @ $8 per lb.)
42,900
lbs. @ $8.10 per lb.
Direct labor
(3 hrs. @ $16 per hr.)
25,200
hrs. @ $16.50 per hr.
Overhead
(3 hrs. @ $11 per hr.)
$
287,400
Units manufactured
8,500
AQ = Actual Quantity
SQ = Standard Quantity
AP = Actual Price
SP = Standard Price
Compute the direct materials price variance and the direct
materials quantity variance. Indicate...
A manufactured product has the following information for June. Standard Actual Direct materials (6 lbs. @ $8 per lb.) 48,500 lbs. @ $8.10 per lb. Direct labor (2 hrs. @ $16 per hr.) 15,700 hrs. @ $16.50 per hr. Overhead (2 hrs. @ $12 per hr.) $ 198,000 Units manufactured 8,000 (1) Compute the standard cost per unit. Direct materials Direct labor Overhead Total (2) Compute the total cost variance for June. Indicate whether the cost variance is favorable of...
A manufactured product has the following information for June. Standard Direct materialts Direct labor Overhead Units manufactured (5 lbs. $8 per lb.) (2 hrs. $15 per hr.) (2 hrs. $11 per hr. $184,400 Actual 41,100 lbs. $8.20 per 1b. 15,900 hrs. $15.60 per hr. 8,100 Exercise 21-9 Direct materials variances LO P2 Compute the direct materials price variance and the direct materials quantity variance, Indicate whether each variance is fav unfavorable. AQ Actual Quantity SQ Standard Quantity AP Actual Price...
Required information (The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (7 lbs. @ $9 per lb.) (3 hrs. @ $16 per hr.) (3 hrs. @$12 per hr.) Actual 62,000 lbs. @ $9.20 per lb. 26,000 hrs. @ $16.50 per hr. $323,000 8,800 Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable....
Required information [The following information applies to the questions displayed below.) A manufactured product has the following information for June Direct materials Direct labor Overhead Units manufactured Standard 5 lbs. @ $8 per lb. 3 hrs. @ $17 per hr. 3 hrs. @ $13 per hr. Actual 42,100 lbs. @ $8.20 per lb. 24,500 hrs. @ $17.50 per hr. $329,000 8,300 Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance by...
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