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Homework Answers
1)
| Direct materials (7*8) | 56 |
| Direct labor (3*15) | 45 |
| Overhead (3*11) | 33 |
| Standard cost | 134 |
2)
Total Cost variance
= Standard cost - Actual cost
= (134*7600) - [(53600*8.10)+(22400*15.40)+257,700]
= 1,018,400 - 1,036,820
= 18,420 Unfavorable
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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...
Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June Standard 7 lbs.$8 per lb. 3 hrs.$15 per hr 3 hrs. $11 per hr Actual 53,600 lbs.@ $8.10 per lb 22,400 hrs.@$15.40 per hr. $257,700 7,600 Direct materials Direct labor Overhead Units manufactured Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round...
[The following information applies to the questions displayed below.] A manufactured product has the following 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. @ $8 per lb. 3 hrs. @ $15 per hr. 3 hrs. @ $11 per hr. Actual 53,600 lbs. @ $8.10 per lb. 22,400 hrs. @ $15.40 per hr. $ 257,700 7,600 Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance by selecting...
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. @ $8 per lb.) (2 hrs. @ $15 per hr.) (2 hrs. @ $11 per hr.) Actual 55,900 lbs. @ $8.10 per lb. 15,500 hrs. @ $15.40 per hr. $179, 700 7,900 Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable...
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.) (2 hrs. @ $17 per hr.) (2 hrs. @ $12 per hr.) Actual 43,900 lbs. @ $8.10 per lb. 17,100 hrs. @ $17.40 per hr. $214,700 8,700 (1) Compute the standard cost per unit. Direct materials Direct labor Overhead Total (2) Compute the total cost variance...
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. @ $8 per lb. 2 hrs. @ $15 per hr. 2 hrs. @ $11 per hr. Actual 61,300 lbs. @ $8.10 per lb. 17,100 hrs. @ $15.40 per hr. $ 197,500 8,700 Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance...
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. Standard Actual Direct materials 7 lbs. @ $8 per lb. 51,lbs. $8.10 per 24 hrs. @ $15.40 per Direct labor 3 hrs. @ $15 per hr. 21,400 hr. Overhead 3 hrs. @ $13 per hr. $286,400 Units manufactured 7,200 Compute the direct materials price variance and the direct materials quantity variance Indicate the effect of each variance by selecting for...
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. @ $7 per lb. 3 hrs. @ $16 per hr. 3 hrs. @ $11 per hr. Actual 43, 600 lbs. @ $7.10 per lb. 25,600 hrs. @ $16.60 per hr. $290,400 8,600 (1) Compute the standard cost per unit. (2) Compute the total cost variance for June. Complete this question...
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. @ $8 per lb. 2 hrs. @ $17 per hr. 2 hrs. @ $11 per hr. Actual 53,000 lbs. @ $8.10 per lb. 14,700 hrs. @ $17.50 per hr. $170,100 7,500 (1) Compute the standard cost per unit. (2) Compute the total cost variance for June. Complete this question by...
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 (6 lbs. $8 per lb.) (2 hrs. @ $16 per hr.) (2 hrs. @ $12 per hr.) Actual 49,700 lbs. @ $8.10 per lb. 16,000 hrs. @ $16.60 per hr $202,300 8,200 (1) Compute the standard cost per unit. Direct materials Direct labor Overhead Total (2) Compute the total cost variance for...
HYEUVROUE [The following information applies to the questions displayed below.) A manufactured product has the following...
HYEUVROUE [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 7 lbs. 2 hrs. 2 hrs. Standard $9 per lb. $16 per hr. $11 per hr. Actual 59,400 lbs. $9.10 per lb. 16,400 hrs. $16.50 per hr. $190,200 8,400 (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...
Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June Standard 7 lbs.$8 per lb. 3 hrs.$15 per hr 3 hrs. $11 per hr Actual 53,600 lbs.@ $8.10 per lb 22,400 hrs.@$15.40 per hr. $257,700 7,600 Direct materials Direct labor Overhead Units manufactured Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round...
[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. @ $8 per lb. 3 hrs. @ $15 per hr. 3 hrs. @ $11 per hr. Actual 53,600 lbs. @ $8.10 per lb. 22,400 hrs. @ $15.40 per hr. $ 257,700 7,600 Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance by selecting...
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. @ $8 per lb.) (2 hrs. @ $15 per hr.) (2 hrs. @ $11 per hr.) Actual 55,900 lbs. @ $8.10 per lb. 15,500 hrs. @ $15.40 per hr. $179, 700 7,900 Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable...
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.) (2 hrs. @ $17 per hr.) (2 hrs. @ $12 per hr.) Actual 43,900 lbs. @ $8.10 per lb. 17,100 hrs. @ $17.40 per hr. $214,700 8,700 (1) Compute the standard cost per unit. Direct materials Direct labor Overhead Total (2) Compute the total cost variance...
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. @ $8 per lb. 2 hrs. @ $15 per hr. 2 hrs. @ $11 per hr. Actual 61,300 lbs. @ $8.10 per lb. 17,100 hrs. @ $15.40 per hr. $ 197,500 8,700 Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance...
Required information The following information applies to the questions displayed below) A manufactured product has the following information for June. Standard Actual Direct materials 7 lbs. @ $8 per lb. 51,lbs. $8.10 per 24 hrs. @ $15.40 per Direct labor 3 hrs. @ $15 per hr. 21,400 hr. Overhead 3 hrs. @ $13 per hr. $286,400 Units manufactured 7,200 Compute the direct materials price variance and the direct materials quantity variance Indicate the effect of each variance by selecting for...
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. @ $7 per lb. 3 hrs. @ $16 per hr. 3 hrs. @ $11 per hr. Actual 43, 600 lbs. @ $7.10 per lb. 25,600 hrs. @ $16.60 per hr. $290,400 8,600 (1) Compute the standard cost per unit. (2) Compute the total cost variance for June. Complete this question...
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. @ $8 per lb. 2 hrs. @ $17 per hr. 2 hrs. @ $11 per hr. Actual 53,000 lbs. @ $8.10 per lb. 14,700 hrs. @ $17.50 per hr. $170,100 7,500 (1) Compute the standard cost per unit. (2) Compute the total cost variance for June. Complete this question by...
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 (6 lbs. $8 per lb.) (2 hrs. @ $16 per hr.) (2 hrs. @ $12 per hr.) Actual 49,700 lbs. @ $8.10 per lb. 16,000 hrs. @ $16.60 per hr $202,300 8,200 (1) Compute the standard cost per unit. Direct materials Direct labor Overhead Total (2) Compute the total cost variance for...
HYEUVROUE [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 7 lbs. 2 hrs. 2 hrs. Standard $9 per lb. $16 per hr. $11 per hr. Actual 59,400 lbs. $9.10 per lb. 16,400 hrs. $16.50 per hr. $190,200 8,400 (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...
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