a. Purchased 33.000 pounde of maleriell at a cast of 52.96 per pound meigiflcatt and can be igrored.) houn was recorded Bequired: 1. Confulu to foliowing variances for dune: a. Mrhelals ploe and cuaviay variences b. Lasode rale and effelercy varlances. c. Waratie ovartedd rate and efficitncy varianies 2. Summarge the vanances that you computes in (7) atove by atoeng twe net eyerall favoratie cr uriaveratile variance for the menth. Complete this question by entering yeur answers in the tates belew. 16. Compote the follawing variantes for June, isbor rate and elficiencr vartances. 1c. Cembiote the following varances for lune, varintie everhad rate and effciency veriancies. Miler Foy Compary manutachyret a plastic mimming pod at as Westwood Plant: The plant has been inatructions to "get things under control." Upon reviewing the plant's income statement Ms. Byon has conctuded that the major problem lies in the vartablo cost of goods sold. She has been prosifed with this thillowine standard cost per swimming poo: During June the plant produced 8,000 pools and incurred the following costs; a. Purchased 33,000 pounds of materials at a cost of $2.95 per pound. b. Used 27,800 pounds of materlals in production. (Finished goods and work in process inventories are: insignificant and can be ignored.) c. Worked 3,800 direct labor-hours at a cost of $6,20 per hour, d. Incurred variable manufacturing overhead cost totaling 94.560 for the month. A total of 1,900 machinehours was recorded. If is the company's policy to close all variances to cost of goods sold on a monthly basis Recuilred: 1. Compute the following variances for June: a. Materiais price and quantity variances. b. Labor rate and efficioncy variances. c. Variable overhead rate and efficiency variances. 2. Summarize the variances that you computed in (1) above by showing the net overall favorable or unfavorable variance for the month. Complete this question by entering your answers in the tabs below. Summarize the variances that you computed in (1) above by showing the net overall favorable or unfavorable variance for the month. (Indicate the effect of each variance by selecting "F" for favorable, "u" for unfavorable, and "None" for no effect (i.e.zero variance). Input the amount as positive value.) a. Purchased 33.000 pounde of maleriell at a cast of 52.96 per pound meigiflcatt and can be igrored.) houn was recorded Bequired: 1. Confulu to foliowing variances for dune: a. Mrhelals ploe and cuaviay variences b. Lasode rale and effelercy varlances. c. Waratie ovartedd rate and efficitncy varianies 2. Summarge the vanances that you computes in (7) atove by atoeng twe net eyerall favoratie cr uriaveratile variance for the menth. Complete this question by entering yeur answers in the tates belew. 16. Compote the follawing variantes for June, isbor rate and elficiencr vartances. 1c. Cembiote the following varances for lune, varintie everhad rate and effciency veriancies. Miler Foy Compary manutachyret a plastic mimming pod at as Westwood Plant: The plant has been inatructions to "get things under control." Upon reviewing the plant's income statement Ms. Byon has conctuded that the major problem lies in the vartablo cost of goods sold. She has been prosifed with this thillowine standard cost per swimming poo: During June the plant produced 8,000 pools and incurred the following costs; a. Purchased 33,000 pounds of materials at a cost of $2.95 per pound. b. Used 27,800 pounds of materlals in production. (Finished goods and work in process inventories are: insignificant and can be ignored.) c. Worked 3,800 direct labor-hours at a cost of $6,20 per hour, d. Incurred variable manufacturing overhead cost totaling 94.560 for the month. A total of 1,900 machinehours was recorded. If is the company's policy to close all variances to cost of goods sold on a monthly basis Recuilred: 1. Compute the following variances for June: a. Materiais price and quantity variances. b. Labor rate and efficioncy variances. c. Variable overhead rate and efficiency variances. 2. Summarize the variances that you computed in (1) above by showing the net overall favorable or unfavorable variance for the month. Complete this question by entering your answers in the tabs below. Summarize the variances that you computed in (1) above by showing the net overall favorable or unfavorable variance for the month. (Indicate the effect of each variance by selecting "F" for favorable, "u" for unfavorable, and "None" for no effect (i.e.zero variance). Input the amount as positive value.)
