Homework Answers
a)
| Material variance | ||
| Actual cost | 262200 | |
| Split cost (Actual quantity *standard rate) | 38000*7.2= 273600 | |
| Standard cost (standard quantity * standard rate) |
(9000*4)*7.2 36000*7.2 259200 |
|
| Material price [Actual cost -split cost] |
262200-273600 11400 |
Favorable |
| Material efficiency [Split cost-standard cost] |
273600-259200 14400 |
Unfavorable |
b)
| Actual cost | 299700 | |
| Split cost (Actual hours *standard rate) | 18500*16 296000 |
|
| Standard cost (standard hours * standard rate) |
(9000*2)*16 18000*16 288000 |
|
| Material price [Actual cost -split cost] |
299700-296000 3700 |
Unfavorable |
| Material efficiency [Split cost-standard cost] |
296000-288000 8000 |
Unfavorable |
c)Variable overhead variance
| Actual cost | 143900 | |
| Split cost (Actual hours *standard rate) |
18500*8 148000 |
|
| Standard cost (standard hours * standard rate) |
(9000*2)*8 18000*8 144000 |
|
| Material price [Actual cost -split cost] |
143900-148000 4100 |
Favorable |
| Material efficiency [Split cost-standard cost] |
148000-144000 4000 |
Unfavorable |
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