Answered step by step
Verified Expert Solution
Question
1 Approved Answer
hi, I finished this problem but I'm not sure what I am doing wrong, could someone help, please? a-1. What Is the materlals quantity varlance?
hi, I finished this problem but I'm not sure what I am doing wrong, could someone help, please?
a-1. What Is the materlals quantity varlance? (Indlcate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero varlance)). a-2. What is the materlals price varlance? (Indlcate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero varlance)). o-1. What Is the labor efficlency varlance? (Inclicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero varlance)). b-2. What is the labor rate varlance? (Incllcate the effect of each varlance by selectling "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero varlance). Round your final answer to nearest whole dollar amount.) c-1. What is the varlable overhead efficlency varlance? (Incllcate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero varlance)). c2. What is the varlable overhead rate varlance? (Indlcate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero varlance)). Enter a formula into each of the cells marked with a ? below Main Example: Chapter 9 Exhibit 9-12: Standard Cost Variance Analysis-Direct Materials Exhibit 9-13: Standard Cost Variance Analysis-Direct Labor \begin{tabular}{l|r|r|r|} \hline Actual Hours of Input, at Actual Rate & 1,200 hours & $22.00 per hour = & $26,400 \\ \hline Actual Hours of Input, at Standard Rate & 1,050 hours & $22.00 per hour = & $23,100 \\ \hline Standard Hours Allowed for the Actual Output, at Standard Rate & 1,050 hours & $21.60 per hour = & $22,680 \\ \hline Direct labor variances: & $3,300U & \\ \hline Labor rate variance & $420U & \\ \hline Labor efficiency variance & $3,720U & \\ \hline Labor spending variance & & & \\ \hline & & & \\ \hline Exhibit 9-14: Standard Cost Variance Analysis - Variable Manufacturing Overhead & \\ \hline Actual Hours of Input, at Actual Rate & 1,200 hours & $6.00 per hour = & $7,200 \\ \hline Actual Hours of Input, at Standard Rate & 1,050 hours & $6.00 per hour = & $6,300 \\ \hline Standard Hours Allowed for the Actual Output, at Standard Rate & 1,050 hours & 6.8 per hour = & $7,140 \\ \hline Variable overhead variances: & & & \\ \hline Variable overhead rate variance & $900U & \\ \hline Variable overhead efficiency variance & $840 & F & \\ \hline Variable overhead spending variance & $60U & \\ \hline \end{tabular}
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started