10. Compute the following vallances for June, materials price arit quantity vaitances. 16. Gornpute. the following vartances for June, labar rate and eficinicy variances. 1c. Compiate ther following variances for June, wariable ovethead rate and efflciency variances. Required: 1. Comperte the following yariances for June: a. Matedifs price and cuantity variances. b. Labor rate ard efficiency variances. c. Varlable overhead rate and efflelency variances. 2. Sumitiarize the variancesthat you computed in (1) above by showing the net overall favotabie of uriavorable variance tor the mont Complete: this question by entering your answers in the tabs below. Miller Ioy Compariy manutactures a plastic swimming pool at its Westwood Plant. The plant has been experiencing problems as shown by its June contribution format income statement belowr Janer Dunc, Who hios jumt been appointed general manager of the Westwood Plant, has been given hastructions to "get things under control- Hipon reviawing the plant's income statement, Ms. Dunn has concluded that the major problem lies in the variable cost of goods sold She har been provided with the following standard cost per swimming poot: During June the plant produced 4,000 ppols and incurred the following costs: During June the plant produced 4,000 pools and incurred the following costs: a. Purchased 19,800 pounds of materials at a cost of $2.55 per pound. 6. Used 14,500 pounds of matelatsin production. (Finished goods and work in process irventories are insignificant and can be (gnored) c. Worked 2000 direct labon hours at a cost of $6.40 per hout: d. Incurect variable manufacturing overhead cost totaling $4.940 for the month. A total of 1.900 machine-hour was recorded It is the nompanyys pollcy to those all varlances to cost of goods sold on a monthly basis. Recuired: 1. Compste the tollowing variances for June: a. Materiars prices and quantity variances. b. Laboc a and efficiency vadances. c- Varlable overhead rate and efficiency variances. 2. Sumbefacize the varlances that you computed in (1) above by showing the net overall favorable or unfavorable variance for the month. 1a. Compute the fallowing yarianges for lune, materials price and quantity vatiances: 1b. Complite the following vananges for june, labor fote and efficiency variancesi ic. compute the following yariences for junc, yartable overtiead rate and efflclency variances. Required: 1. Compute the following variances for June: a. Materials price and quantity variances. b. Labor rate and efficiency variances. c. Varlable overhead rater and efliciency variances. 2. Summarize the variances that you computed in (1) above by showing the net overall favorable or untavorable varlance for the montl Comptete this question by entering your answers in the tabs below. Suminisian the variances that you sompotid in (1) above by chowing the net overall favorable of unfavorable varlance for the
