Question
Flint Manufacturing Corporation uses a standard cost system to collect cost data about product A (the only product it sells). The table below shows the
Flint Manufacturing Corporation uses a standard cost system to collect cost data about product A (the only product it sells). The table below shows the standard cost data for the year ended December 31, 2022 Description Material A Material B Direct labor Machine X Direct Labor Machine Y Description Actual total data for the year is shown in the table below: Total number of units used during the year 1,134 590 580 hours 276 hours Material A Material B Direct labor Machine X Direct Labor Machine Y Standard number of unit to Standard cost of one unit produce one unit to produce one unit Required: Calculate the following Description 4 2 2 hours 1 hour Flint Manufacturing produced 270 units of product A and sold 220 units to customers during the year ended December 31, 2022. Materials usage variance Material A Materials usage variance Material B Materials price variance Material A Materials price variance (combined) $2.00 $3.00 $12.00 per hour $15.00 per hour Variance
Amount Total cost incurred during the year $2,450 $1,698 $6,870 + $4,210 Favorable or unfavorable Direct laber price variance Machine X Direct labor price variance Machine Y Direct labor usage variance (combined) Jungman Incorporated has provided the following data concerning one of the
Flut Manufacturnge Corporation uses a standard cost syztem to collect cost data shout preduct A the enly product if sells) The table below show the standard cost data for the rear ended December 31, 2022 Actual total data for the year is shown in the table below: Flmt Manufacturng produced 270 units of product A and sold 220 units to customers durng the year ended December 31, 2022. Required: Calculate the followingStep by Step Solution
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