Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

any help would be greatly appreciated Help Save & Ent Subm Chuck my work 9 Standard Cost Actual Cost per Unit per Unit Direct materialsi

any help would be greatly appreciated

image text in transcribed
Help Save & Ent Subm Chuck my work 9 Standard Cost Actual Cost per Unit per Unit Direct materialsi Standard: 1.98 Feet at 54.44 per foot Actual: 1.05 feet at $5.40 per foot $ 9.25 Direct Labor! Standard: 8.95 hours at $19.40 per hour 18.45 Actual: 1.80 hours at $18.58 per hour 18.50 Variable overhead: Standard: 9.95 hours at $7.00 per hour 6.65 Actual: 1. 0 hours at thebe per hour 6. 6 Total cost per unit $ 31244 Excess of actual coat over standard cost per unit The production superintendent was pleased when he wow this report and commented: "This $0.01 excess cost is wel whin the 4 percent limit management has set for acceptable variances, It's obvious that there's not much to worry about with this product Actual production for the month was 19,000 units. Variable overhead cost is assigned to procdach on me bash of direct labor-hours. There were no beginning of ending inventories of milerika Required 1. Compute the following varundes for May. a Materials price and quantity vinances. h Labor rate and childency varinota c Variable overhead rate and efficiency viances. 2. How much of the 10.91 caress wil coil is traceable to each of the vinlances computed in (9 above 3. How much of the 10 91 cures unit cost is traceable to apparent inefficient use of labor time

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Step: 3

blur-text-image

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

Detecting Accounting Fraud Analysis And Ethics

Authors: Cecil Jackson

1st Edition

0133078604, 9780133078602

More Books

Students also viewed these Accounting questions