Question
Copland Components manufactures an electronic device for vehicle manufacturing. The current standard cost sheet for a device follows: Direct materials, ? ounces at $2.80 per
Copland Components manufactures an electronic device for vehicle manufacturing. The current standard cost sheet for a device follows:
Direct materials, ? ounces at $2.80 per ounce | $ ? | per device |
---|---|---|
Direct labor, 0.40 hours at ? per hour | ? | per device |
Overhead, 0.40 hours at ? per hour | ? | per device |
Total costs | $ 30 | per device |
Assume that the following data appeared in Coplands records at the end of the past month:
Actual production | 99,640 | units |
---|---|---|
Actual sales | 93,500 | units |
Materials costs (526,000 ounces) | $ ? | |
Materials price variance | 64,400 | U |
Materials efficiency variance | 77,840 | U |
Direct labor price variance | 19,450 | F |
Direct labor (38,900 hours) | 953,050 | |
Overapplied overhead (total) | 25,900 |
There are no materials inventories.
Required:
a. Prepare a variance analysis for direct materials and direct labor. b. Assume that all production overhead is fixed and that the $25,900 overapplied is the only overhead variance that can be computed. What are the actual and applied overhead amounts? c. Complete the standard cost sheet for a device given below.
Complete this question by entering your answers in the tabs below. Prepare a variance analysis for direct materials and direct labor. Complete this question by entering your answers in the tabs below. Assume that all production overhead is fixed and that the $25,900 overapplied is the only overhead variance that can be computed. What are the actual and applied overhead amounts? Complete this question by entering your answers in the tabs below. Complete the standard cost sheet for a device given below. Note: Do not round intermediate calculations. Complete this question by entering your answers in the tabs below. Prepare a variance analysis for direct materials and direct labor. Complete this question by entering your answers in the tabs below. Assume that all production overhead is fixed and that the $25,900 overapplied is the only overhead variance that can be computed. What are the actual and applied overhead amounts? Complete this question by entering your answers in the tabs below. Complete the standard cost sheet for a device given below. Note: Do not round intermediate calculations
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