Solution
Material Price Variance | $ 18,820.00 | Favourable-F |
Material quantity variance | $ 20,740.00 | Unfavourable-U |
Total Material spending Variance | $ 1,920.00 | Unfavourable-U |
Labor rate variance | $ 248,000.00 | Unfavourable-U |
Labor Efficiency variance | $ 210,000.00 | Favourable-F |
Total Labor spending variance | $ 38,000.00 | Unfavourable-U |
Variable Overhead Rate Variance | $ 39,500.00 | Unfavourable-U |
Variable Overhead Efficiency Variance | $ 23,100.00 | Favourable-F |
Variable Overhead Spending Variance | $ 16,400.00 | Unfavourable-U |
Working
Actual DATA for | 110000 | Units | |
Quantity (AQ) | Rate (AR) | Actual Cost | |
Direct Material | 188200 | $ 1.60 | $ 301,120.00 |
Direct labor | 155000 | $ 11.60 | $ 1,798,000.00 |
Variable Overhead | 155000 | $ 1.35 | $ 210,000.00 |
.
Standard DATA for | 110000 | Units | |
Quantity (SQ) | Rate (SR) | Standard Cost | |
[A] | [B] | [A x B] | |
Direct Material | ( 1.6 lb x 110000 Units)=176000 lb | $ 1.70 | $ 299,200.00 |
Direct labor | ( 1.6 Hour x 110000 Units)=176000 Hour | $ 10.00 | $ 1,760,000.00 |
Variable Overhead | ( 1.6 Hour x 110000 Units)=176000 Hour | $ 1.10 | $ 193,600.00 |
.
Material Price Variance | ||||||
( | Standard Rate | - | Actual Rate | ) | x | Actual Quantity |
( | $ 1.70 | - | $ 1.60 | ) | x | 188200 |
18820 | ||||||
Variance | $ 18,820.00 | Favourable-F | ||||
Material Quantity Variance | ||||||
( | Standard Quantity | - | Actual Quantity | ) | x | Standard Rate |
( | 176000 | - | 188200 | ) | x | $ 1.70 |
-20740 | ||||||
Variance | $ 20,740.00 | Unfavourable-U | ||||
Material Spending Variance | ||||||
( | Standard Cost | - | Actual Cost | ) | ||
( | $ 299,200.00 | - | $ 301,120.00 | ) | ||
-1920 | ||||||
Variance | $ 1,920.00 | Unfavourable-U | ||||
Labor Rate Variance | ||||||
( | Standard Rate | - | Actual Rate | ) | x | Actual Labor Hours |
( | $ 10.00 | - | $ 11.60 | ) | x | 155000 |
-248000 | ||||||
Variance | $ 248,000.00 | Unfavourable-U | ||||
Labour Efficiency Variance | ||||||
( | Standard Hours | - | Actual Hours | ) | x | Standard Rate |
( | 176000 | - | 155000 | ) | x | $ 10.00 |
210000 | ||||||
Variance | $ 210,000.00 | Favourable-F | ||||
Labor Spending Variance | ||||||
( | Standard Cost | - | Actual Cost | ) | ||
( | $ 1,760,000.00 | - | $ 1,798,000.00 | ) | ||
-38000 | ||||||
Variance | $ 38,000.00 | Unfavourable-U | ||||
Variable Overhead Rate Variance | ||||||
( | Standard Rate | - | Actual Rate | ) | x | Actual Labor Hours |
( | $ 1.10 | - | $ 1.35 | ) | x | 155000 |
$ (39,500.00) | ||||||
Variance | $ 39,500.00 | Unfavourable-U | ||||
Variable Overhead Efficiency Variance | ||||||
( | Standard Hours | - | Actual Hours | ) | x | Standard Rate |
( | 176000 | - | 155000 | ) | x | $ 1.10 |
$ 23,100.00 | ||||||
Variance | $ 23,100.00 | Favourable-F | ||||
Variable Overhead Spending Variance | ||||||
( | Standard Cost | - | Actual Cost | ) | ||
( | $ 193,600.00 | - | $ 210,000.00 | ) | ||
-16400 | ||||||
Variance | $ 16,400.00 | Unfavourable-U |
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Quantity 1.60...
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. 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: 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: 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: 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 1.70 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: 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...