Acct homework need help A company has established the following materials standards for a particular product: Standard quantity per unit of output 8.8 Pounds Standard
Acct homework need help
A company has established the following materials standards for a particular product: |
Standard quantity per unit of output | 8.8 | Pounds |
Standard price | $15.80 | per pound |
The following data pertain to operations concerning the product for the last month:
Actual materials purchased | 6,980 | Pounds |
Actual cost of materials purchased | $94,550 | |
Actual materials used in production | 6,280 | Pounds |
Actual output | 1,475 | Units |
What is the materials quantity variance for the month? |
$110,534 F | |
$105,860 F | |
$6,160 U | |
$94,800 U |
A medical clinic bases its budgets on patient-visits. The clinic's static budget for January appears below:
Budgeted number of patient-visits | 9,900 |
Budgeted variable overhead costs: | |
Supplies (@$6.40 per patient-visit) | $63,360 |
Laundry (@$6.10 per patient-visit) | 60,390 |
Total variable overhead cost | 123,750 |
Budgeted fixed overhead costs: | |
Wages and salaries | 81,800 |
Occupancy costs | 71,800 |
Total fixed overhead cost | 153,600 |
Total budgeted overhead cost | $277,350 |
The total overhead cost at an activity level of 12,100 patient-visits per month should be:
$151,250 | |
$304,850 | |
$338,983 | |
$277,350 |
A company uses a standard cost system. The company has established the following standard for the direct labor costs of one unit of product: |
Standard Hours | Standard Rate | Standard Cost |
1.3 hours | $23.00/hour | $29.90 |
The total factory wages for March were $1,316,000, 80 percent of which were for direct labor. The company manufactured 35,000 units of product during March using 44,800 direct labor hours.The direct labor efficiency variance for March is: |
$16,450 unfavorable. | |
$16,450 favorable. | |
$16,100 favorable. | |
$16,100 unfavorable. |
A company uses a standard cost system. The company has established the following standard for the direct labor costs of one unit of product: |
Standard Hours | Standard Rate | Standard Cost |
1.3 hours | $23.00/hour | $29.90 |
The total factory wages for January were $1,316,000, 80 percent of which were for direct labor. The company manufactured 35,000 units of product during January using 44,800 direct labor hours. The direct labor rate variance for January is: (Do not round intermediate calculations.) |
$285,600 favorable. | |
$22,400 unfavorable. | |
$285,600 unfavorable. | |
$22,400 favorable. |
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