Assignment-6 $% in the final grade due on November before 11.pm Problem: 1 Vernee Mills, Inc. is a large producer of men's and women's clothing. The company was standard costs for all of product The standard costs and actual costs per unit of product for a recent period are given below for one of the company's produce lines RUM During this period, the company produced 4.00 units of the product. A comparison of standard and actual costs for the period on a total cost basis is given below STORE There was no inventory of materials and at the beginningar the period. During the period. 21.120 metres of materials wate purchased, all of which were used in production Required: a) For direct material compute the price and quality variance for the period b) For dinect labous, compute the rate and efficiency anunces For variable, compute the spending and efficiency Variance Problem: 2 The following is the student cost cand few X Company's only product The company manufactured and sold 18.00 units of product during the year. A total of 70-200 metres of material was purchased during the year at cost of 4.20 perc. All of this material was used to manufacture the 1.000 milts. The company records showed no beginning er ending intoties for the year The company worked 29.250 direct labowhows during the you at a cost of $9 75 per her. Overhallis applied to products on the basis of direct labour hours. The denominator active level direct laboran) was 23.500 hor Bolted fixed overhead costs as shown on the fleshle hodet were 5157.500 while actual fred overhead costs were $156,000. Actual variable overhead costs were $90,000 Required: Compute the direct material price and quantity wariances for the year Compute the direct labour mate and efficiency variabies for the year. c) Compute the variable overhead spending and efficiency varices for the year dCompute the fined overhead budget and volume variances for the year Assignment-6 $% in the final grade due on November before 11.pm Problem: 1 Vernee Mills, Inc. is a large producer of men's and women's clothing. The company was standard costs for all of product The standard costs and actual costs per unit of product for a recent period are given below for one of the company's produce lines RUM During this period, the company produced 4.00 units of the product. A comparison of standard and actual costs for the period on a total cost basis is given below STORE There was no inventory of materials and at the beginningar the period. During the period. 21.120 metres of materials wate purchased, all of which were used in production Required: a) For direct material compute the price and quality variance for the period b) For dinect labous, compute the rate and efficiency anunces For variable, compute the spending and efficiency Variance Problem: 2 The following is the student cost cand few X Company's only product The company manufactured and sold 18.00 units of product during the year. A total of 70-200 metres of material was purchased during the year at cost of 4.20 perc. All of this material was used to manufacture the 1.000 milts. The company records showed no beginning er ending intoties for the year The company worked 29.250 direct labowhows during the you at a cost of $9 75 per her. Overhallis applied to products on the basis of direct labour hours. The denominator active level direct laboran) was 23.500 hor Bolted fixed overhead costs as shown on the fleshle hodet were 5157.500 while actual fred overhead costs were $156,000. Actual variable overhead costs were $90,000 Required: Compute the direct material price and quantity wariances for the year Compute the direct labour mate and efficiency variabies for the year. c) Compute the variable overhead spending and efficiency varices for the year dCompute the fined overhead budget and volume variances for the year
