ACC 241 Uses of Accounting Information II (1) Dylan McKay & 11/22/20 3:35 PM Homework: HW #10 - Chapter 11 Save Score: 0 of 1 pt 9 of 10 (6 complete) HW Score: 60%, 6 of 10 pts E11-28A (similar to) Question Help o Earthern Ware is a manufacturer of large flower pots for urban settings. The company has these standards: (Click the icon to view the standards.) (Click the icon to view the actual results.) Read the requirements Requirement 1. Compute the direct material price variance and the direct material quantity variance. (Enter the variances as positive numbers. Enter currency amounts in the formula to the nearest cent and then round the final variance amount to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U). Abbreviations used: DM = Direct materials) First determine the formula for the price variance, then compute the price variance for direct materials. x = DM price variance = i Requirements @ Actual Results 1. Compute the direct material price variance and the direct material quantity variance 2. Who is generally responsible for each variance? 3. Interpret the variances. Print Done Earthern Ware allocated fixed manufacturing overhead to production based on standard direct labor hours. Last month, the company reported the following actual results for the production of 1,600 flower pots: Purchased 16,920 pounds at a cost of $4.10 per Direct materials pound; used 16,320 pounds to produce 1,600 pots Worked 2.4 hours per flower pot (3,840 total DLH) at Direct labor...... . a cost of $15.00 per hour Actual variable manufacturing $8.40 per direct labor hour for total actual variable overhead....... .manufacturing overhead of $32,256 Actual fixed manufacturing overhead $ 19,100 Standard fixed manufacturing overhead allocated based on actual production........ $22,400 Choose from any list or enter any number in the input fields and then click Check Answer. parts 4 remaining Clear All ACC 241 Uses of Accounting Information II (1) Dylan McKay & 11/22/20 3:35 PM Homework: HW #10 - Chapter 11 Save Score: 0 of 1 pt 9 of 10 (6 complete) HW Score: 60%, 6 of 10 pts E11-28A (similar to) Question Help o Earthern Ware is a manufacturer of large flower pots for urban settings. The company has these standards: (Click the icon to view the standards.) (Click the icon to view the actual results.) Read the requirements Requirement 1. Compute the direct material price variance and the direct material quantity variance. (Enter the variances as positive numbers. Enter currency amounts in the formula to the nearest cent and then round the final variance amount to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U). Abbreviations used: DM = Direct materials) First determine the formula for the price variance, then compute the price variance for direct materials. x = DM price variance = i Requirements @ Actual Results 1. Compute the direct material price variance and the direct material quantity variance 2. Who is generally responsible for each variance? 3. Interpret the variances. Print Done Earthern Ware allocated fixed manufacturing overhead to production based on standard direct labor hours. Last month, the company reported the following actual results for the production of 1,600 flower pots: Purchased 16,920 pounds at a cost of $4.10 per Direct materials pound; used 16,320 pounds to produce 1,600 pots Worked 2.4 hours per flower pot (3,840 total DLH) at Direct labor...... . a cost of $15.00 per hour Actual variable manufacturing $8.40 per direct labor hour for total actual variable overhead....... .manufacturing overhead of $32,256 Actual fixed manufacturing overhead $ 19,100 Standard fixed manufacturing overhead allocated based on actual production........ $22,400 Choose from any list or enter any number in the input fields and then click Check Answer. parts 4 remaining Clear All