Question
Given the following: Transferred-in materials (25 yards @ $10) $250 Other Materials (100 ounces @ $0.20)20 Labor (3.1 hours @ $8) 24.80 Fixed Overhead (3.1
Given the following:
Transferred-in materials (25 yards @ $10) $250
Other Materials (100 ounces @ $0.20)20
Labor (3.1 hours @ $8) 24.80
Fixed Overhead (3.1 hours @$5) 15.50
Variable Overhead (3.1 hours @ $5) 15.50
Standard cost per unit 325.80
In the coloring and bolting department 400,000 ounces of other materials were used to produce the output of the period. Using the proposed standard sheet, calculate the following variances:
Materials price variance (for other materials only)
Materials usage variance (for other materials only)
Labor rate variance
Labor efficiency variance
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