Homework Answers
a) Material price variance = (38*5320-196840) = 5320 F
b) Material quantity variance = (4200-4690)*38 = 18620 U
c) Labor efficiency variance = (6000-5460)*23 = 12420 F
d) Variable overhead rate variance = (26.40*5460-146055) = 1911 U
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Zee Corporation has developed the following cost standards for the production of its leather backpacks: Standard...
Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating...
Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are given below: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials ? $ 5.00 per yard $ ? Direct labor ? ? ? Variable manufacturing overhead ? $ 2 per direct labor-hour ? Total standard cost per unit $ ? Overhead is applied to production on the basis of direct labor-hours. During March, 440 backpacks were...
Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating...
Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are given below:Standard Quantity or HoursStandard Price or RateStandard CostDirect materials?$6.00 per yard$?Direct labor???Variable manufacturing overhead?$2 per direct labor-hour?Total standard cost$?Overhead is applied to production on the basis of direct labor-hours. During March, 530 backpacks were manufactured and sold. Selected information relating to the month's production is given below: Materials UsedDirect LaborVariable Manufacturing OverheadTotal standard cost allowed ^(**)$15,900$7,420$1,484Actual costs incurred$13,750?$1,708Materials price variance?Materials...
Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating...
Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are given below. Standard Quantity Standard Price Standard or Hours or Rate Cost Direct materials $4.00 per yard Direct labor Variable manufacturing overhead $ 2 per direct labor-hour Total standard cost per unit Overhead is applied to production on the basis of direct labor-hours. During March, 490 backpacks were manufactured and sold. Selected information relating to the month's production is...
Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating...
Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are given below: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials ? $ 4.00 per yard $ ? Direct labor ? ? ? Variable manufacturing overhead ? $ 2 per direct labor-hour ? Total standard cost per unit $ ? Overhead is applied to production on the basis of direct labor-hours. During March, 700 backpacks were...
Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating...
Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are given below: Standard Quantityor HoursStandard Priceor RateStandardCostDirect materials?$6per yard$?Direct labor???Variable manufacturing overhead?$3per direct labor-hour?Total standard cost per unit$? Overhead is applied to production on the basis of direct labor-hours. During March, 1,000 backpacks were manufactured and sold. Selected information relating to the month’s production is given below: MaterialsUsedDirect LaborVariableManufacturingOverheadTotal standard cost allowed*$16,800$21,000$4,200Actual costs incurred$15,000?$3,600Materials price variance?Materials quantity variance$1,200ULabor rate variance?Labor efficiency variance?Variable...
Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating...
Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are given below: Standard Quantity or Hours Standard Price or Rate $8.00 per yard Standard Cost Direct materials Direct labor per direct labor- 2 hour $ Variable manufacturing overhead Total standard cost per unit Overhead is applied to production on the basis of direct labor-hours. During March, 600 backpacks were manufactured and sold. Selected information relating to the month's production...
Check my work Highland Company produces a lightweight backpack that is popular with college students. Standard...
Check my work Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are given below Standard Quantity Standard Price or Rate $4.50 per yard Standard or Hours Direct naterials Direct labor Cost 2 ped Variable manufacturing overhead Total standard cost per unit $ 2 per direct labor-hour ok Overhead is applied to production on the basis of direct labor-hours. During March, 530 backpacks were manufactured and sold. Selected information...
Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating...
Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are given below: Standard Quantity Standard Price Standard or Rate Direct materials Direct labor $6.00 per yard per direct labor. Variable manufacturing overhead Total standard cost per unit Overhead is applied to production on the basis of direct labor-hours. During March, 520 backpacks were manufactured and sold. Selected information relating to the month's production is given below. Materials Direct Labor...
Highland Company produces a lightweight backpack that is popular with college students Standard variable costs relating...
Highland Company produces a lightweight backpack that is popular with college students Standard variable costs relating to a single backpack are given below. Standard Quantity or Hours Standard Price or Rate $6.00 per yard Standard Cost Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit per direct labor 2 hour $ Overhead is applied to production on the basis of direct labor-hours. During March, 400 backpacks were manufactured and sold Selected information relating to the month's production...
Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating...
Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are given below: Standard Quantity or Hours Standard Price Or Rate $4.50 per yard Standard Cost Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit $ 2 per direct labor-hour Overhead is applied to production on the basis of direct labor-hours. During March, 530 backpacks were manufactured and sold. Selected information relating to the month's production is...
Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are given below:Standard Quantity or HoursStandard Price or RateStandard CostDirect materials?$6.00 per yard$?Direct labor???Variable manufacturing overhead?$2 per direct labor-hour?Total standard cost$?Overhead is applied to production on the basis of direct labor-hours. During March, 530 backpacks were manufactured and sold. Selected information relating to the month's production is given below: Materials UsedDirect LaborVariable Manufacturing OverheadTotal standard cost allowed ^(**)$15,900$7,420$1,484Actual costs incurred$13,750?$1,708Materials price variance?Materials...
Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are given below. Standard Quantity Standard Price Standard or Hours or Rate Cost Direct materials $4.00 per yard Direct labor Variable manufacturing overhead $ 2 per direct labor-hour Total standard cost per unit Overhead is applied to production on the basis of direct labor-hours. During March, 490 backpacks were manufactured and sold. Selected information relating to the month's production is...
Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are given below: Standard Quantity or Hours Standard Price or Rate $8.00 per yard Standard Cost Direct materials Direct labor per direct labor- 2 hour $ Variable manufacturing overhead Total standard cost per unit Overhead is applied to production on the basis of direct labor-hours. During March, 600 backpacks were manufactured and sold. Selected information relating to the month's production...
Check my work Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are given below Standard Quantity Standard Price or Rate $4.50 per yard Standard or Hours Direct naterials Direct labor Cost 2 ped Variable manufacturing overhead Total standard cost per unit $ 2 per direct labor-hour ok Overhead is applied to production on the basis of direct labor-hours. During March, 530 backpacks were manufactured and sold. Selected information...
Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are given below: Standard Quantity Standard Price Standard or Rate Direct materials Direct labor $6.00 per yard per direct labor. Variable manufacturing overhead Total standard cost per unit Overhead is applied to production on the basis of direct labor-hours. During March, 520 backpacks were manufactured and sold. Selected information relating to the month's production is given below. Materials Direct Labor...
Highland Company produces a lightweight backpack that is popular with college students Standard variable costs relating to a single backpack are given below. Standard Quantity or Hours Standard Price or Rate $6.00 per yard Standard Cost Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit per direct labor 2 hour $ Overhead is applied to production on the basis of direct labor-hours. During March, 400 backpacks were manufactured and sold Selected information relating to the month's production...
Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are given below: Standard Quantity or Hours Standard Price Or Rate $4.50 per yard Standard Cost Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit $ 2 per direct labor-hour Overhead is applied to production on the basis of direct labor-hours. During March, 530 backpacks were manufactured and sold. Selected information relating to the month's production is...
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