Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Alanis computes its overhead rates using practical volume, which is 3,400 units. The actual results for the year are as follows: Units produced: 3,100

Alanis computes its overhead rates using practical volume, which is 3,400 units. The actual results for the year are as follows: Units produced: 3,100 Actual yield: 4,650 kg - I Direct materials purchased: Almond 2,800 kg @ P56.00; Chocolate 4,000 @ P57.00 Direct materials used: Almond 2,500 kg; Chocolate 3,600 kg Direct labor: Assembly 1,800 hours @ 40.00; Packaging 1,500 hours @ P40.00 Variable overhead: P65,000 Fixed overhead: P105,000 p Compute to the nearest centavo; answers rounded to nearest peso Required: 1. Material quantity variance 2. Material mix variance 3. Material vield variance 4. Labor rate variance 5. Labor mix variance 6. Labor yield variance 7. Controllable overhead variance under the two-way variance analysis 8. Uncontrollable overhead variance under the two-way variance analysis

Step by Step Solution

There are 3 Steps involved in it

Step: 1

To calculate the variances lets start with the given data Practical volume 3400 units Units produced 3100 units Actual yield 4650 kg Direct materials purchased Almond 2800 kg P5600 Chocolate 4000 kg P... 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_2

Step: 3

blur-text-image_3

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

Cost Management Accounting And Control

Authors: Don R. Hansen, Maryanne M. Mowen, Liming Guan

6th Edition

324559674, 978-0324559675

More Books

Students also viewed these Accounting questions

Question

4. In Exercise 3, are the random variables X and Y independent?

Answered: 1 week ago

Question

Describe what is meant by under- and overapplied overhead.

Answered: 1 week ago