Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2 of 2 < Sunland Corporation accumulates the following data relative to jobs started and finished during the month of June 2022. Costs and Production

2 of 2 < Sunland Corporation accumulates the following data relative to jobs started and finished during the month of June 2022. Costs and Production Data Raw materials unit cost Raw materials units Direct labor payroll Direct labor hours Manufacturing overhead incurred Manufacturing overhead applied Machine hours expected to be used at normal capacity Budgeted fixed overhead for June Variable overhead rate per machine hour Fixed overhead rate per machine hour Actual Standard $2.10 $1.95 11,300 10,900 $177,310 $171,760 14,900 15,200 $201,700 $205,200 41.500 $62,250 $3.00 $1.50 -/50 E !!! Fixed overhead rate per machine hour $1.50 Overhead is applied on the basis of standard machine hours. Three hours of machine time are required for each direct labor hour. The jobs were sold for $452,000. Selling and administrative expenses were $37,800. Assume that the amount of raw materials purchased equaled the amount used. (a) Compute all of the variances for (1) direct materials and (2) direct labor. (Round per unit values to 2 decimal places, eg. 52.75 and final answers to O decimal places, e.g. 52.) (1) Total materials variance $ Materials price variance $ Matoriale quantity variance Question 2 of 2 -/50 Compute all of the variances for (1) direct materials and (2) direct labor. (Round per unit values to 2 decimal places, eg. 52.75 and final answers to O decimal places, eg. 52) (1) Total materials variance $ Materials price variance $ Materials quantity variance (2) Total labor variance Labor price variance: Labor quantity variance $ eTextbook and Media List of Accounts 00 < 09:50

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Double Entry Exercises 40 Full Cycle Accounting Cases With Solutions

Authors: L Castelluzzo

1st Edition

1731173954, 978-1731173959

More Books

Students also viewed these Accounting questions

Question

2 of 2 Answered: 1 week ago

Answered: 1 week ago