Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Computation of Variable Cost Variances The following information pertains to the standard costs and actual activity for Repine Company for September: Standard cost per unit

Computation of Variable Cost Variances The following information pertains to the standard costs and actual activity for Repine Company for September:

Standard cost per unit
Direct materials 3 units of material A x $8.00 per unit
2 units of material B x $4.00 per unit
Direct labor 2 hours x $15.00 per hour
Activity for September
Materials purchased
Material A 7,000 units x $7.80 per unit
Material B 4,800 units x $4.50 per unit
Materials used
Material A 6,430 units
Material B 3,950 units
Direct labor used 4,100 hours x $15.50 per hour
Production output 2,000 units

There were no beginning direct materials inventories.

(a) Determine the materials price and quantity variances.

Material A Material B
Materials price variance Answer AnswerFU Answer AnswerFU
Materials quantity variance Answer AnswerFU Answer AnswerFU

(b) Determine the labor rate and efficiency variances.

Labor rate variance Answer AnswerFU
Labor efficiency variance Answer AnswerFU

Please answer all parts of the question.

PreviousSave AnswersNext

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

Financial Sustainability Of Public Sector EntitiesThe Relevance Of Accounting Frameworks

Authors: Josette Caruana, Isabel Brusca, Eugenio Caperchione, Sandra Cohen, Francesca Manes Rossi

1st Edition

3030060365, 9783030060367

More Books

Students also viewed these Accounting questions