Answered step by step
Verified Expert Solution
Question
1 Approved Answer
29. Direct Materials Price variance: _________________ 30. Direct Materials Usage variance: _________________ 31. Direct Materials Total variance: _________________ 32. Direct Labor Rate variance: _________________ The
29. Direct Materials Price variance: _________________
30. Direct Materials Usage variance: _________________
31. Direct Materials Total variance: _________________
32. Direct Labor Rate variance: _________________
The Jackson City plant of ABC Company LLC produces delicious Pepsi. At the beginning of the year, the Jackson City plant had the following standard cost sheet per jug of cola soda: Direct Materials (11 gallons @ $3.00 per gallon) $ 33.00 Direct Labor (0.10 hours @ $20.00 per hour) $ 2.00 Fixed Overhead (0.10 hours @ $10.00 per hour) $ 1.00 Variable Overhead (0.10 hours @ $10.00 per hour) $ 1.000 StandarCost per unit $ 37.00 The Jackson City plant computes its overhead rates using practical volume, which is 25,000 jugs of soda. The actual results for the year are as follows: a. Units produced: 26,000 jugs of soda b. Direct materials purchased: 250,000 gallons @ $3.05 per gallon c. Direct materials used: 270,000 gallons d. Direct labor: 3,300 hours @ $21.50 per hour e. Fixed overhead: $30,000 f. Variable overhead: $35,000 Compute the following variancesStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started