Use the following data for questions 25 thru 31: Cox Engineering performs cement core tests in...
Use the following data for questions 25 thru 31:
Cox Engineering performs cement core tests in its laboratory. The following standards have been set for each core test
performed based on planned activity of 1,800 core tests:
Standard Hours or
Quantity
Standard Price or
Rate
Price Per
Unit
Direct materials ........................................
3 pounds
$0.75 per pound
$2.25
Direct labor...............................................
0.4 hours
$12 per hour
$4.80
Variable manufacturing overhead ............
0.4 hours
$9 per hour
$3.60
Fixed manufacturing overhead.............
$6,800
During March, the laboratory performed 2,000 core tests. On March 1 no direct materials (sand) were on hand. Variable
manufacturing overhead is assigned to core tests on the basis of standard direct labor-hours. The following events
occurred during March:
• 7,200 pounds of sand were purchased at a cost of $6,120.
• 7,200 pounds of sand were used for core tests.
• 840 actual direct labor-hours were worked at a cost of $8,610.
• Actual variable manufacturing overhead incurred was $7,240.
• Actual fixed manufacturing overhead incurred was $6,500.
25.
The materials price variance for March is:
A. $720 unfavorable
B. $720 favorable
C. $281 unfavorable
D. $281 favorable
26.
The materials quantity variance for March is:
A. $900 favorable
B. $1,950 favorable
C. $1,950 unfavorable D. $900 unfavorable
27.
The labor rate variance for March is:
A. $4,578 unfavorable B. $1,470 unfavorable C. $4,578 favorable D. $1,470 favorable
28.
The labor efficiency variance for March is:
A. $480 favorable
B. $480 unfavorable C. $192 favorable
D. $192 unfavorable
29.
The variable manufacturing overhead price variance for March is:
A. $320 unfavorable
B. $320 favorable
C. $40 unfavorable
D. $40 favorable
30.
The variable manufacturing overhead efficiency variance for March is:
A. $360 unfavorable
B. $360 favorable
C. $40 unfavorable
D. $40 favorable
31.
The total fixed manufacturing overhead variance for March is:
A. $300 unfavorable
B. $300 favorable
C. $40 unfavorable
D. $40 favorable
Homework Answers
| Material | Labour | Variable O/H | Fixed O/H | |||||||||||||
| Standard | Standard | Standard | Standard | |||||||||||||
| Qty | Price | Total p.u | Hours | Rate | Total p.u | Hours | Rate | Total p.u | ||||||||
| 3 | 0.75 | 2.25 | 0.4 | 12 | 4.8 | 0.4 | 9 | 3.6 | 6800 | |||||||
| Standard (1800 Tests) | Standard (1800 Tests) | Standard (1800 Tests) | Standard (1800 Tests) | |||||||||||||
| Qty | Price | Total p.u | Hours | Rate | Total p.u | Hours | Rate | Total p.u | ||||||||
| 5400 | 0.75 | 4050 | 720 | 12 | 8640 | 720 | 9 | 6480 | 6800 | |||||||
| Actual (2000 Tests) | Actual (2000 Tests) | Actual (2000 Tests) | Actual (2000 Tests) | |||||||||||||
| Qty | Price | Total p.u | Hours | Rate | Total p.u | Hours | Rate | Total p.u | ||||||||
| 7200 | 0.85 | 6120 | 840 | 10.25 | 8610 | 840 | 8.62 | 7240 | 6500 | |||||||
| Material Price Variance | =(S.P-A.P)*AQ | Labour Rate Variance | =(S.R-A.R)*AH | V O/H Price Variance | =(S.R-A.R)*AH | Total fixed manufacturing overhead variance | ||||||||||
| =(0.75-0.85)*7200 | -720 | =(12-10.25)*840 | 1470 | =(9-8.62)*840 | 319.2 | =Standard Fixed O/H-Actual Fixed O/H | ||||||||||
| =6800-6500 | ||||||||||||||||
| Material Qty Variance | =(S.Q-A.Q)*SP | Labour Efficiency Variance | =(S.H-A.H)*SR | V O/H Efficiency Variance | =(S.H-A.H)*SR | 300 | ||||||||||
| =(3*2000-7200)*0.75 | -900 | =(0.4*2000-840)*12 | -480 | =(0.4*2000-840)*9 | -360 | |||||||||||
25. The materials price variance for March is: A. $720 unfavorable
26. The materials quantity variance for March is: D. $900 unfavorable
27. The labor rate variance for March is: D. $1,470 favorable
28. The labor efficiency variance for March is: B. $480 unfavorable
29. The variable manufacturing overhead price variance for March is: B. $320 favorable
30. The variable manufacturing overhead efficiency variance for March is: A. $360 unfavorable
31. The total fixed manufacturing overhead variance for March is: B. $300 favorable
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but if you could include the formulas for the other 2 I would
appreciate it. Thanks
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