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Can anyone verify that the answers i got are right? PROBLEM: Mascot Mfg. makes awnings for athletic team tailgating and uses a standard costing system.
Can anyone verify that the answers i got are right?
PROBLEM: Mascot Mfg. makes awnings for athletic team tailgating and uses a standard costing system. 23 The company recognizes (isolates) materials price variances at the time the materials are purchased. 24 They allocate (apply) OH based on \# of DL hours. Following are this year's cost and standards data; assumes 52 weeks per year. Standards (for a planned level of production of 2,200 units per month) Direct Materials Yards per awning Price per yard Direct Labor Hours per awning Rate per hour Variable MOH standard rate per direct labor hour Fixed MOH standard rate per direct labor hour Total budgeted fixed MOH cost \begin{tabular}{|rr} & 5.00 \\ $ & 15.00 \\ $ & 8.00 \\ $ & 6.00 \\ $ & 63,500 \end{tabular} 37 38 Actual cost and data from the current month: 39 Number of yards purchased 40 Cost of yards purchased 41 Number of yards used 42 Number of awnings produced Sheet1 Requirement \#1 Calculate these variances using the templates to the right. 1. Direct material variances 2. Direct labor variances 3. Variable MOH variances 4. Fixed MOH variances NOTE: There is NO "otal" variance because Pnce \& Efficiency Variances are measured at different times for DM. Variable Manufacturing Overhead Fixed Manufacturing Overhead Step by Step Solution
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