2 Chapter 7: Direct Cost Variances Answers 4 Turkey Corp establied the blowing month standards per unit of its 20,000 unit budgeted production 54.40 7 Direct Material Direct Labor 9 Fud Overhead $31.00 $210.000 SAR $18.60 52100 SURA 000.00 $136.000.00 $210.000.00 11 This month Turkey Corp had the following results Direct Material Direct Labor 105.000 lbs 465.000 254.250 SARD Output 9,850 units 814 150 Goethe d hembushcheadh the comparede What Fixed Overhead in Flex Budget Complete the following table for Direct Material use formulas orkes at least 2 demicalpointal. Direct Material Actual Axudet Inut Flex Budget Standard Output Quantity units) x input Rate (bs/unit) Xingut Price $/b] Total Cost ($) "Verily that your total Actual Cost and total Master Budget Cost equal the Totals from the top What the Material Vares Complete bath methods. Indicate the favorable or Unfavorable Volume Vagine Method 1 the standaa rd the Masterstand the mount the origina t ed to pay for Rented out - Volume Variancel. More Cost Spent/Less Cost Spent] (For U) Method 2 How many extra or fewer units were requested by the Sales Manager? XL H uch diesmaterial didth FSLR2 Volume Variance More Cost Spent/-less Cost Spent] (For ) 47 der Variance Method o make the standard amount the d ecided =Efficiency Variance (More Material Used/-less Material Used Foru) Method 2 How much direct material did the Production Manager use? Excessor Savings of input Quantity Used much did they expect to spend per la material? -Efficiency Variance. More Material UsedLess Material Used (For) CH7A Price Variance Method 1 "Actual: the amount that the company spent on the direct material purchased "Input Flex Budgets the amount they would have expected to be the benefitbord = Price Variance More Cost/. Less Cost! (For U) Method 2 How much did the Purchasing Manager pay per lb of direct material? How much did Purchasing M er RV R hofdinstmaterial = Amount overpaid or underpaid) per unit of direct material How much does material did the Purchasing Man a ? = Price Variance [+ More Cost/ - Less Cost] (For U) Comiste the following this for instalarearmstarkan atas ademical paints Direct Labor extent Standard Output Quantity (units) xinput Rate hrs/unit) = Total Cost ($) *Verify that your total Actual Cost and total Master Budget Cost equal the Totals from the top! What are the rest labor Variances Complete both methods. Indicate if they are Favorable or Unfavorable 84 Volume Variance Method 1 war the wall r E d he standardamunt the world Master Static Budete mutatione = Volume Variancel. More Cost Spent / Less Cost Spent] For U) Method 2 1999 How many extra or fewer units were requested by the Sales Manager? xHamsh direstuar si did the New = Volume Variance [More Cost Spent/. Less Cost Spent] For U) Effing van Method 1 Buthamuthwold on the uofdinhard Not FlexButto the standard amount they would havented to make the adulto = Effidency Variance + More Hours Used/-Fewer Hours Used] (For U) 100 101 Method 2 102 Sales Marshall 103 How much direct labor hours) did the Production Manager use? Hemhlabar thuishould the Produto Meredith = Excess or Savings) of input Quantity Used x How did the expect to spend per hour of labor? = Efficiency Variance [+ More Hours Used/-Fewer Hours Used) For U) 104 105 107 108 Rate Varange Method 1 100 110 111 sofdinsaared "Actual: the amount that the company spent on the direct labor used Eu thamuth world on the = Rate Variance. More Cost/. Less Cost! (For U) 112 113 114 Method 2 115 116 117 How much did they pay per hour of direct labor? - How much did they expect chance desabar? = Amount overpaid or underpaid) per hour of direct labor xHamshidabarthousi did they actually use? Rate Variance . More Cost/ - Less Cost) For U) 118 2 Chapter 7: Direct Cost Variances Answers 4 Turkey Corp establied the blowing month standards per unit of its 20,000 unit budgeted production 54.40 7 Direct Material Direct Labor 9 Fud Overhead $31.00 $210.000 SAR $18.60 52100 SURA 000.00 $136.000.00 $210.000.00 11 This month Turkey Corp had the following results Direct Material Direct Labor 105.000 lbs 465.000 254.250 SARD Output 9,850 units 814 150 Goethe d hembushcheadh the comparede What Fixed Overhead in Flex Budget Complete the following table for Direct Material use formulas orkes at least 2 demicalpointal. Direct Material Actual Axudet Inut Flex Budget Standard Output Quantity units) x input Rate (bs/unit) Xingut Price $/b] Total Cost ($) "Verily that your total Actual Cost and total Master Budget Cost equal the Totals from the top What the Material Vares Complete bath methods. Indicate the favorable or Unfavorable Volume Vagine Method 1 the standaa rd the Masterstand the mount the origina t ed to pay for Rented out - Volume Variancel. More Cost Spent/Less Cost Spent] (For U) Method 2 How many extra or fewer units were requested by the Sales Manager? XL H uch diesmaterial didth FSLR2 Volume Variance More Cost Spent/-less Cost Spent] (For ) 47 der Variance Method o make the standard amount the d ecided =Efficiency Variance (More Material Used/-less Material Used Foru) Method 2 How much direct material did the Production Manager use? Excessor Savings of input Quantity Used much did they expect to spend per la material? -Efficiency Variance. More Material UsedLess Material Used (For) CH7A Price Variance Method 1 "Actual: the amount that the company spent on the direct material purchased "Input Flex Budgets the amount they would have expected to be the benefitbord = Price Variance More Cost/. Less Cost! (For U) Method 2 How much did the Purchasing Manager pay per lb of direct material? How much did Purchasing M er RV R hofdinstmaterial = Amount overpaid or underpaid) per unit of direct material How much does material did the Purchasing Man a ? = Price Variance [+ More Cost/ - Less Cost] (For U) Comiste the following this for instalarearmstarkan atas ademical paints Direct Labor extent Standard Output Quantity (units) xinput Rate hrs/unit) = Total Cost ($) *Verify that your total Actual Cost and total Master Budget Cost equal the Totals from the top! What are the rest labor Variances Complete both methods. Indicate if they are Favorable or Unfavorable 84 Volume Variance Method 1 war the wall r E d he standardamunt the world Master Static Budete mutatione = Volume Variancel. More Cost Spent / Less Cost Spent] For U) Method 2 1999 How many extra or fewer units were requested by the Sales Manager? xHamsh direstuar si did the New = Volume Variance [More Cost Spent/. Less Cost Spent] For U) Effing van Method 1 Buthamuthwold on the uofdinhard Not FlexButto the standard amount they would havented to make the adulto = Effidency Variance + More Hours Used/-Fewer Hours Used] (For U) 100 101 Method 2 102 Sales Marshall 103 How much direct labor hours) did the Production Manager use? Hemhlabar thuishould the Produto Meredith = Excess or Savings) of input Quantity Used x How did the expect to spend per hour of labor? = Efficiency Variance [+ More Hours Used/-Fewer Hours Used) For U) 104 105 107 108 Rate Varange Method 1 100 110 111 sofdinsaared "Actual: the amount that the company spent on the direct labor used Eu thamuth world on the = Rate Variance. More Cost/. Less Cost! (For U) 112 113 114 Method 2 115 116 117 How much did they pay per hour of direct labor? - How much did they expect chance desabar? = Amount overpaid or underpaid) per hour of direct labor xHamshidabarthousi did they actually use? Rate Variance . More Cost/ - Less Cost) For U) 118