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=+EX 23-4 Direct materials variances obj. 3✔a. Price variance,$2,730 F I-Time, Inc., produces electronic timepieces. The company uses mini-LCD displays for its products. Each timepiece uses one
=+EX 23-5 Direct materials variances obj. 3✔ Quantity variance,$184 U Determine the price variance, quantity variance, and total direct materials cost variance for March.The following data relating
=+Determine the standard direct materials cost per unit of finished product, assuming that there was no inventory of work in process at either the beginning or the end of the month.
=+EX 23-6 Standard direct materials cost per unit from variance data objs. 2, 3 H.J. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup (1,500 pounds) has the
=+The actual materials in a batch may vary from the standard due to tomato characteristics. Assume that the actual quantities of materials for batch K103 were as follows:2,600 lbs. of tomatoes 135
=+b. Determine the direct materials quantity variance for batch K103.
=+EX 23-7 Standard product cost, direct materials variance objs. 2, 3 The following data relate to labor cost for production of 5,500 cellular telephones:Actual: 3,650 hrs. at $15.20 $55,480
=+b. Discuss what might have caused these variances.
=+EX 23-8 Direct labor variances obj. 3✔a. Rate variance,$730 U Alpine Bicycle Company manufactures mountain bikes. The following data for May of the current year are available:Quantity of direct
=+b. How much direct labor should be debited to Work in Process?
=+EX 23-9 Direct labor variances objs. 3, 5✔a. Time variance,$510 U The Freedom Clothes Company produced 18,000 units during June of the current year.The Cutting Department used 3,500 direct labor
=+EX 23-10 Direct labor variances obj. 3✔a. Cutting Department rate variance, $350 unfavorable Chapter 23 Performance Evaluation Using Variances from Standard Costs 1073a. Determine the direct
=+b. Interpret your results.St. Luke Hospital began using standards to evaluate its Admissions Department. The standard was broken into two types of admissions as follows:Standard Time to Complete
=+The Admissions Department employs two full-time people (40 productive hours per week, with no overtime) at $18 per hour. For the most recent week, the department handled 66 unscheduled and 240
=+b. What are the standard hours for the actual volume for the week?
=+c. Calculate a time variance, and report how well the department performed for the week.
=+EX 23-11 Direct labor standards for nonmanufacturing expenses obj. 3✔a. $1,440 One of the operations in the U.S. Post Office is a mechanical mail sorting operation. In this operation, letter mail
=+Assume that the sorting operators are temporary employees. The union contract requires that temporary employees be hired for one month at a time. Each temporary employee is hired to work 150 hours
=+b. If each employee earns a standard $18 per hour, what would be the labor time variance if the actual number of letters sorted in December was 33,840,000?
=+EX 23-12 Direct labor standards for nonmanufacturing operations objs. 2, 3 At the beginning of October, Cornerstone Printers Company budgeted 16,000 books to be printed in October at standard
=+The standard materials price is $0.60 per pound. The standard direct labor rate is$10 per hour. At the end of October, the actual direct materials and direct labor costs were as follows:Actual
=+There were no direct materials price or direct labor rate variances for October. In addition, assume no changes in the direct materials inventory balances in October.Cornerstone Printers Company
=+Determine the direct materials quantity and direct labor time variances.
=+EX 23-13 Direct materials and direct labor variances objs. 2, 3✔ Direct materials quantity variance,$600 U 1074 Chapter 23 Performance Evaluation Using Variances from Standard Costs Western Wood
=+Variable overhead cost:Indirect factory labor $27,500 Power and light 3,600 Indirect materials 23,000 _______ Total variable cost $ 54,100 Fixed overhead cost:Supervisory salaries $42,000
=+Assuming that the estimated costs for March are the same as for February, prepare a flexible factory overhead cost budget for the Press Department for March for 8,000, 10,000, and 12,000 hours of
=+EX 23-14 Flexible overhead budget obj. 4✔ Total factory overhead, 12,000 hrs.$158,920 Colliers Company has determined that the variable overhead rate is $2.90 per direct labor hour in the
=+b. How much overhead would be applied to production if 15,000 hours were used in the department during the month?
=+EX 23-15 Flexible overhead budget obj. 4 The following data relate to factory overhead cost for the production of 5,000 computers:Actual: Variable factory overhead $125,000 Fixed factory overhead
=+If productive capacity of 100% was 8,000 hours and the factory overhead cost budgeted at the level of 5,000 standard hours was $162,750, determine the variable factory overhead controllable
=+EX 23-16 Factory overhead cost variances obj. 4✔ Volume variance,$12,750 U Perma Weave Textiles Corporation began January with a budget for 30,000 hours of production in the Weaving Department.
=+The actual factory overhead was $128,500 for January. The actual fixed factory overhead was as budgeted. During January, the Weaving Department had standard hours at actual production volume of
=+b. Determine the fixed factory overhead volume variance.
=+EX 23-17 Factory overhead cost variances obj. 4✔a. $1,000 F The data related to Acclaim Sporting Goods Company’s factory overhead cost for the production of 50,000 units of product are as
=+EX 23-18 Factory overhead variance corrections obj. 4 Chapter 23 Performance Evaluation Using Variances from Standard Costs 1075 Productive capacity at 100% of normal was 75,000 hours, and the
=+Fixed factory overhead volume variance:Normal productive capacity at 100% 75,000 hrs.Standard for amount produced 76,000 ________ Productive capacity not used 1,000 hrs.Standard variable factory
=+Variance—unfavorable 6,000 ______ Total factory overhead cost variance—unfavorable $1,400 ______ ______ Identify the errors in the factory overhead cost variance analysis.Scientific Molded
=+Scientific Molded Products has available 15,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During August, the Trim Department actually used 11,000
=+EX 23-19 Factory overhead cost variance report obj. 4✔ Net controllable variance, $500 U Orion Manufacturing Company incorporates standards in its accounts and identifies variances at the time
=+a. Purchased 1,700 units of copper tubing on account at $54.50 per unit. The standard price is $56.00 per unit.
=+b. Used 1,000 units of copper tubing in the process of manufacturing 120 air conditioners.Eight units of copper tubing are required, at standard, to produce one air conditioner.
=+EX 23-20 Recording standards in accounts obj. 5 The Assembly Department produced 2,000 units of product during June. Each unit required 1.5 standard direct labor hours. There were 3,200 actual
=+EX 23-21 Recording standards in accounts obj. 5 1076 Chapter 23 Performance Evaluation Using Variances from Standard Costs The following data were taken from the records of Parrott Company for
=+Variable factory overhead controllable variance—favorable 250 Fixed factory overhead volume variance—unfavorable 3,200 Interest expense 2,250 Sales 580,000 Selling expenses 85,800 Prepare an
=+EX 23-22 Income statement indicating standard cost variances obj. 5✔ Income before income tax, $74,050 Under Par, Inc., is an Internet retailer of golf equipment. Customers order golf equipment
=+Average computer response time to customer “clicks”Dollar amount of returned goods Elapsed time between customer order and product delivery Maintenance dollars divided by hardware investment
=+b. Provide an explanation for each performance measure.
=+EX 23-23 Nonfinancial performance measures obj. 6 Tri-County College wishes to monitor the efficiency and quality of its course registration process.a. Identify three input and three output
=+b. Why would Tri-County College use nonfinancial measures for monitoring this process?
=+EX 23-24 Nonfinancial performance measures obj. 6 Problems Series A Best Bathware Company manufactures faucets in a small manufacturing facility. The faucets are made from zinc. Manufacturing has
=+Standard wage per hr. $14.60 Standard labor time per faucet 15 min.Standard number of lbs. of zinc 1.6 lbs.Standard price per lb. of zinc $11.50 Actual price per lb. of zinc $11.75 Actual lbs. of
=+PR 23-1A Direct materials and direct labor variance analysis objs. 2, 3✔c. Direct labor time variance,$1,095 F Determine (a) the standard cost per unit for direct materials and direct labor; (b)
=+Scandia Coat Company makes women’s and men’s coats. Both products require filler and lining material. The following planning information has been made available:Standard Quantity Women’s
=+Scandia Coat does not expect there to be any beginning or ending inventories of filler and lining material. At the end of the budget year, Scandia Coat experienced the following actual
=+The expected beginning inventory and desired ending inventory were realized.Instructions 1. Prepare the following variance analyses, based on the actual results and production levels at the end of
=+a. Direct materials price, quantity, and total variance.
=+b. Direct labor rate, time, and total variance.
=+2. Why are the standard amounts in part (1) based on the actual production at the end of the year instead of the planned production at the beginning of the year?
=+PR 23-2A Flexible budgeting and variance analysis objs. 2, 3✔ 1.a. Direct materials price variance,$18,420 U Road Ready Tire Co. manufactures automobile tires. Standard costs and actual costs
=+Direct materials 71,000 lbs. at $5.10 70,600 lbs. at $5.00 Direct labor 1,300 hrs. at $17.50 1,330 hrs. at $17.80 Factory overhead Rates per direct labor hr., based on 100% of normal capacity of
=+Variable cost, $3.10 $4,000 variable cost Fixed cost, $4.90 $6,615 fixed cost Each tire requires 0.25 hour of direct labor.Instructions
=+Determine (a) the price variance, quantity variance, and total direct materials cost variance; (b) the rate variance, time variance, and total direct labor cost variance; and(c) variable factory
=+PR 23-3A Direct materials, direct labor, and factory overhead cost variance analysis objs. 3, 4✔a. Direct materials price variance,$7,060 F 1078 Chapter 23 Performance Evaluation Using Variances
=+Indirect factory wages $135,000 Power and light 93,600 Indirect materials 25,200 ________ Total variable cost $253,800 Fixed costs:Supervisory salaries $ 72,000 Depreciation of plant and equipment
=+During March, the department operated at 16,900 hours, and the factory overhead costs incurred were indirect factory wages, $126,320; power and light, $88,110; indirect materials, $23,220;
=+PR 23-4A Standard factory overhead variance report obj. 4✔ Controllable variance, $640 F The Radiology Department provides imaging services for Parkside Medical Center.One important activity in
=+2. What was the labor time variance as a result of typing 72,000 lines?
=+3. What was the labor rate variance as a result of the bonus?
=+4. The manager is trying to determine if a better decision would have been to hire a temporary transcriptionist to meet the higher typing demands in the first week of May, rather than paying out
=+5. Which decision is better, paying the bonus or hiring another transcriptionist?
=+6. Are there any performance-related issues that the labor time and rate variances fail to consider? Explain.
=+PR 23-5A Standards for nonmanufacturing expenses objs. 3, 6✔ 2. $256 F Problems Series B Vintage Dresses Inc. manufactures dresses in a small manufacturing facility.Manufacturing has 20
=+PR 23-1B Direct materials and direct labor variance analysis Chapter 23 Performance Evaluation Using Variances from Standard Costs 1079 Standard wage per hr. $10.80 Standard labor time per dress 12
=+Determine (a) the standard cost per dress for direct materials and direct labor; (b) the price variance, quantity variance, and total direct materials cost variance; and (c) the rate variance, time
=+objs. 2, 3✔c. Rate variance,$140 U Cocoa Delights Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The following planning information has been
=+Cocoa Delights Chocolate does not expect there to be any beginning or ending inventories of cocoa or sugar. At the end of the budget year, Cocoa Delights Chocolate had the following actual
=+a. Direct materials price, quantity, and total variance.
=+b. Direct labor rate, time, and total variance.
=+2. Why are the standard amounts in part (1) based on the actual production for the year instead of the planned production for the year?
=+PR 23-2B Flexible budgeting and variance analysis objs. 2, 3✔ 1.a. Direct materials quantity variance, $2,630 F Eastern Polymers, Inc., processes a base chemical into plastic. Standard costs and
=+Variable cost, $2.20 $5,020 variable cost Fixed cost, $3.50 $7,000 fixed cost Each unit requires 0.1 hour of direct labor.PR 23-3B Direct materials, direct labor, and factory overhead cost variance
=+KAT Equipment Inc., a manufacturer of construction equipment, prepared the following factory overhead cost budget for the Welding Department for December 2010. The company expected to operate the
=+PR 23-4B Standard factory overhead variance report obj. 4✔ Controllable variance, $130 U Office Pro, Inc., does software development. One important activity in software development is writing
=+a minimum of a 40-hour week. Programmers are paid $28.00 per hour. The manager offered a bonus if the team could generate more than 6,500 lines for the week, without overtime. Due to a project
=+1. If the team generated 6,000 lines of code according to the original plan, what would have been the labor time variance?
=+2. What was the actual labor time variance as a result of generating 7,000 lines of code?
=+3. What was the labor rate variance as a result of the bonus?
=+4. The manager is trying to determine if a better decision would have been to hire a temporary programmer to meet the higher programming demand in the first week of May, rather than paying out the
=+5. Which decision is better, paying the bonus or hiring another programmer?
=+6. Are there any performance-related issues that the labor time and rate variances fail to consider? Explain.
=+PR 23-5B Standards for nonmanufacturing expenses objs. 3, 6✔ 3. $960 U Chapter 23 Performance Evaluation Using Variances from Standard Costs 1081 Essence of Persia, Inc., began operations on
=+DIRECT MATERIALS Cost Units Cost Direct Materials Behavior per Case per Unit Cost per Case Cream base Variable 72 ozs. $0.015 $ 1.08 Natural oils Variable 24 ozs. 0.250 6.00 Bottle (8-oz.) Variable
=+DIRECT LABOR Cost Time Labor Rate Direct Labor Cost Department Behavior per Case per Hour per Case Mixing Variable 16.80 min. $15.00 $4.20 Filling Variable 4.20 12.00 0.84 _____ _____ _____ _____
=+21.00 min. $5.04 _____ _____ FACTORY OVERHEAD Cost Behavior Total Cost Utilities Mixed $ 230 Facility lease Fixed 14,392 Equipment depreciation Fixed 3,600 Supplies Fixed 600 _______ _______$18,822
=+The management of Essence of Persia, Inc., wishes to determine the number of cases required to break even per month. The utilities cost, which is part of factory overhead, is a mixed cost. The
=+1. Determine the fixed and variable portion of the utility cost using the high-low method.
=+2. Determine the contribution margin per case.
=+3. Determine the fixed costs per month, including the utility fixed cost from part (1).
=+4. Determine the break-even number of cases per month.Part B—August Budgets
=+During July of the current year, the management of Essence of Persia, Inc., asked the controller to prepare August manufacturing and income statement budgets. Demand was expected to be 1,400 cases

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