1a.
Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below. J A manufactured product has the following information for June. Standard Actual Direct materials 6 lbs. (:3 $9 per lb. 44.2% lbs. @ $9.10 per lb. Direct labor 3 hrs. @ $17 per hr. 21.76% hrs. @ $17.48 per hr. Overhead 3 hrs. @ $13 per hr. $291,566 Units manufactured 7,366 Exercise 21-8 Standard unit cost; total cost variance LO P2 (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 below. Required 1 Required 2 Compute the standard cost per unit. Direct materials Direct labor Overhead Total Required 2 > Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below. ] A manufactured product has the following information for June. Standard Actual Direct materials 6 lbs. (:3 $9 per lb. 44.2% Lbs. @ $9.13 per lb. Direct labor 3 hrs. @ $17 per hr. 21.769 hrs. @ $17.4@ per hr. Overhead 3 hrs. @ $13 per hr. $291,688 Units manufactured 7.369 Exercise 21-8 Standard unit cost; total cost variance LO P2 (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 below. Required 1 Required 2 Required information Use the following information for the Exercises below. {The following information applles to the questions dlsplayed below} Sedona Company set the following standard costs for one unit of its product for this year. Direct material (30 Ibs. @ $2-53 per $ 75 33 1b.} I Direct labor (20 hrs. @ $4.80 per hr.) 96.00 Variable overhead (20 hrs. @ $2.30 per 46 00 hr.) ' Fixed overhead (20 hrs. @ $1.20 per 24 00 hr.) ' Total standard cost $241.00 The $3.50 {$2.30 + $1.20] total overhead rate per direct labor hour is based on an expected operating level equal to 70% ofthe factory's capacity of 53,000 units per month. The following monthly flexible budget information is also available. Operating Levels (% of capacity) Flexible Budget 6595 70% 75% Budgeted output (units) 34,450 37,100 39,750 Budgeted labor (standard 689,000 742,000 795,000 hours) Budgeted overhead {dollars} :3;:::; $1,584,700 $1,700,500 $1,020,500 Fixed overhead 890,400 890,400 890,400 Total overhead $214751133 $2l5971333 $2r7181998 During the current month, the company operated at 65% of capacity, employees worked 652,000 hours, and the following actual overhead costs were incurred. Variable overhead costs $1,525,000 Fixed overhead 954; 333 costs Total overhead $2 479 000 costs ' I Exercise 21-18A Computing and interpreting overhead spending, efficiency, and volume variances LO P5 AH = Actual Hours SH = Standard Hours AVR = Actual Variable Rate SVR = Standard Variable Rate 1. Compute the variable overhead spending and efficiency variances. 2. Compute the fixed overhead spending and volume variances and classify each as favorable or unfavorable. 3. Compute the controllable variance. Complete this question by entering your answers in the tabs below. Required Required Required 1 2 3 Compute the variable overhead spending and efficiency variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Rate per unit" to 2 decimal places.) Actual Variable OH Cost Flexible Budget Standard Cost (VOH applied) Exercise 21-18A Computing and interpreting overhead spending, efficiency, and volume variances LO P5 AH = Actual Hours SH = Standard Hours AVR = Actual Variable Rate SVR = Standard Variable Rate 1. Compute the variable overhead spending and efficiency variances. 2. Compute the fixed overhead spending and volume variances and classify each as favorable or unfavorable. 3. Compute the controllable variance. Complete this question by entering your answers in the tabs below. Required Required Required 1 2 3 Compute the fixed overhead spending and volume variances and classify each as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Rate per unit" to 2 decimal places.) Show less Actual Fixed OH cost Fixed OH (Fixed Budgeted) Standard Cost (FOH applied) Exercise 21-18A Computing and interpreting overhead spending, efficiency, and volume variances LO P5 AH = Actual Hours SH = Standard Hours AVR = Actual Variable Rate SVR = Standard Variable Rate 1. Compute the variable overhead spending and efficiency variances. 2. Compute the fixed overhead spending and volume variances and classify each as favorable or unfavorable. 3. Compute the controllable variance. Complete this question by entering your answers in the tabs below. Required Required Required 1 2 3 Compute the controllable variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Controllable Variance Controllable variance Required information Use the following information for the Exercises below. [T lie following Information applies to the questions displayed belo w} Hart Company made 3,120 bookshelves using 22,120 board feet of wood costing $280,924. The company's direct materials standards for one bookshelf are 8 board feet of wood at $12.60 per board foot. Exercise 21-13 Computing and interpreting materials variances LO P3 A0 = Actual Quantity 50 = Standard Quantity AP = Actual Price SP = Standard Price [1] Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. [2) Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further? Complete this question by entering your answers in the tabs below. Required : Required 1 2 Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Show less; Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Hart Company made 3,120 bookshelves using 22,120 board feet of wood costing $280,924. The company's direct materials standards for one bookshelf are 8 board feet of wood at $12.60 per board foot. Exercise 21-13 Computing and interpreting materials variances LO P3 AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price (1) Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. (2) Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further? Complete this question by entering your answers in the tabs below. Required Required 1 2 "Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further? i ... Which direct materials variances will Hart investigate further? Exercise 2116 Computing and interpreting labor variances LO P3 Javonte Co. set standards of3 hours of direct labor per unit of product and $16.40 per hour for the labor rate. During October, the company uses 20,500 hours of direct labor at a $340,300 total cost to produce 7,000 units of product. In November, the company uses 24,500 hours of direct labor at a $407,925 total cost to produce 7,400 units of product. AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate [1] Compute the direct labor rate variance, the direct labor efciency variance, and the total direct labor cost variance for each of these two months. Classify each variance as favorable or unfavorable. [2) Javonte investigates variances of more than 5% of actual direct labor cost. Which direct labor variances will the company investigate further? Complete this question by entering your answers in the tab: below. Required 1 2 Compute the direct labor rate variance, the direct labor efciency variance, and the total direct labor cost variance for each of these two months. Classify each variance as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Show less; Exercise 21-16 Computing and interpreting labor variances LO P3 Javonte Co. set standards of3 hours of direct labor per unit of product and $16.40 per hour for the labor rate. During October, the company uses 20,500 hours of direct labor at a $340,300 total cost to produce 7,000 units of product. In November, the company uses 24,500 hours of direct labor at a $407,925 total cost to produce 7,400 units of product AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate [1] Compute the direct labor rate variance, the direct labor efciency variance, and the total direct labor cost variance for each of these two months. Classify each variance as favorable or unfavorable. {2) Javonte investigates variances of more than 5% of actual direct labor cost. Which direct labor variances will the company investigate further? Complete this question by entering your answers in the tabs below. Required 1 2 Javonte investigates variances of more than 5% of actual direct labor cost. Which direct labor variances will the company investigate further? Which direct labor variances will the company investigate further
