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All three parts. Answers listed are partially incorrect from a person on chegg that helped me. (indicated with a red x and circle) can you
All three parts. Answers listed are partially incorrect from a person on chegg that helped me. (indicated with a red x and circle) can you please help me fill out all parts of the problem and the boxes.
I submitted this question once but the tutor got a lot incorrect and didn't provide a good visual with answers.
I would appreciate it so much. thank you
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May. The production superintendent was pleased when he saw this report and commented: "This $0.62 excess cost is well within the 4 percent limit management has set for acceptable varlances. It's obvious that there's not much to worry about with this product." Actual production for the month was 16,500 units. Varlable overheatt cost is assigned to products on the basis of direct labor-hours. There were no beginning or ending inventorles of materlals. Required: 1. Compute the following varlances for May: a. Materlals price and quantity varlances. b. Labor rate and efficlency varlances. c. Varlable overhead rate and efficlency varlances. 2. How much of the $0.62 excess unit cost is traceable to each of the varlances computed in requirement 1. 3. How much of the $0.62 excess unit cost is traceable to apparent inefficlent use of labor time? Actual production for the month was 16,500 units. Varlable overhead cost is assigned to products on the basis of direct lab There were no beginning or ending inventorles of materials. Required: 1. Compute the following varlances for May: a. Materlals price and quantity varlances. b. Labor rate and efficiency varlances c. Varlable overhead rate and efficlency varlances. 2. How much of the $0.62 excess unit cost is traceable to each of the variances computed in requirement 1. 3. How much of the $0.62 excess unit cost is traceable to apparent inefficient use of labor time? Answer is not complete. Complete this question by entering your answers in the tabs below. 1a. Compute the following variances for May, materials price and quantity variances. 1b. Compute the following variances for May, labor rate and efficiency variances. 1c. Compute the following variances for May, variable overhead rate and efficiency variances. (Indicate the effect of each variance by selecting " F " for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) How much of the $0.62 excess unit cost is traceable to each of the variances computed in requirement 1 . (Indicate th of each variance by selecting " F " for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero.variance). Inpu amounts as positive values. Round your answers to 2 decimal places.) How much of the $0.62 excess unit cost is traceable to apparent inefficient use of labor time? (Indicate the effect of each variance by selecting " F " for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amou positive values. Do not round intermediate calculations. Round your final answers to 2 decimal places.)Step by Step Solution
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