First Trax Company manufactures snowboards. Its standard cost information follows. First Trax has the following actual results

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First Trax Company manufactures snowboards. Its standard cost information follows.

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First Trax has the following actual results for the month of June:

Number of units produced and sold ................................................................ 600Number of square feet of fiberglass purchased and used ........................ 7,800Cost of fiberglass purchased and used .................................................... $42,900Number of labor hours worked .................................................................... 2,700Direct labor cost ......................................................................................... $40,500Variable overhead cost .............................................................................. $12,600Fixed overhead cost ................................................................................... $62,000

Required:

Calculate the following for First Trax:

1. Direct materials price, quantity, and spending variances.

2. Direct labor rate, efficiency, and spending variances.

3. Variable overhead rate, efficiency, and spending variances.

4. Fixed overhead spending (budget) and volume variances.

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Related Book For  book-img-for-question

Managerial Accounting

ISBN: 978-1260413984

4th edition

Authors: Stacey Whitecotton, Robert Libby, Fred Phillips

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