Case 10-17 (Algo) Working Backwards from Variance Data (L010-1, LO10-2, LO10-3) Vitex, Inc. manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system Inputs Direct materials Direct Labor Variable manufacturing overhead Total standard cost per unit (1) standard Quantity or Hour 2.30 pounds 1.00 hours 1.00 hours (2) Standard Price Or Rate $16.90 per pound $15.20 per hour $. 9.20 per hour standard Coat (12) $ 37.45 $15.20 $ 9.20 $61.89 Direct materials Direct labor Variable manufacturing overhead Total Variances Reported Standard Price Quantity or Cont or Rate Efticiency $637, 330 $11,919 E $ 32, 600 U $250.400 53.600 U $ 15,200 u $156, 400 $ 1.900 F 5 tu *Applied to Work in Process during the period. The company's manufacturing overhead cost is applied to production on the basis of direct labor-hours. All of the materials purchased during the period were used in production Work in process inventories are insignificant and can be ignored Required: 1. How many units were produced last period? 2. How many pounds of direct material were purchased and used in production? 3. What was the actual cost per pound of material? (Round your answer to 2 decimal places.) 4. How many actual direct labor-hours were worked during the period? 5. What was the actual rate paid per direct labor hour? (Round your answer to 2 decimal places.) 6. How much actual variable manufacturing overhead cost was incurred during the period? Direct materials Direct labor Variable manufacturing overhead Standard Price Cost" or Rate $637,330 $ 11,919 F $258, 400 $ 3,600 U $156, 400 $ 4,800 P Quantity of Efficiency $ 32, 600 U $15,200 u $ itu "Applied to Work in Process during the period. The company's manufacturing overhead cost is applied to production on the basis of direct labor-hour during the period were used in production Work in process inventories are insignificant and can be ign Required: 1. How many units were produced last period? 2. How many pounds of direct material were purchased and used in production? 3. What was the actual cost per pound of material? (Round your answer to 2 decimal places.) 4. How many actual direct labor-hours were worked during the period? 5. What was the actual rate paid per direct labor-hour? (Round your answer to 2 decimal places.) 6. How much actual variable manufacturing overhead cost was incurred during the period? 1 2 17,000 39,100 3. Number of units produced Pounds of direct material purchased and used in production Actual cost per pound Actual direct labor-hours Actual rate per direct labor-hour Actual variable manufacturing overhead cost 4 5 6
