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I need help ok 21.01,21.02,21.04,21.05 Standard Job Order Costing - Variance Analysis Speclal order lamps are manutactured in division S. Because of the precise nature
I need help ok 21.01,21.02,21.04,21.05
Standard Job Order Costing - Variance Analysis Speclal order lamps are manutactured in division S. Because of the precise nature of the process a standard cost system has been developed. The following standards are used for the special crders: "Fixed overheod is based on expected production of thnnen customized lamps each month. To keep records of the actual cost of a job, a Job Order Cost System has been developed. Entries are made to the Job Order System at achual cost (overhead is applied based on actual labor hours) while entries are made to the accounting system at standard. Variance analysis is used to analyze the differences. Job Order Costing Secton On January 1, 20x2, Division S began Job 1101 for the Client, THE BIG CHILDREN STORE. The job called for 4,000 customized lamps. The following set of transactions occurred from January 5 until the job was completed: 5-Jan Purchased 4,050 figurines (4) $9,60 per figurine. 6-Jan Purchased 4,075 sets of electical components (4) $1.60 per set. 7. Jan Purchased 4,000 lamp shades () $6.45 per set. 8-Jan 4,050 figurines were requisiboned. 9. Jan 4,050 sets of electrical components were requisitioned. 17. Jan Payroll of 610 Direct Labor Hours ( $9.65 per hour. 28- Jan 3,991 lamp shades were requisitioned 30-Jan Payroll of 660 Direct Labor Hours (i) $9.90 per hour. 30-Jan 3,991 lamps were completed and shipped. All matorials requisitioned were used or scrapped Mary correctly completed the materlal variances for the lamp shades and the overhead variences. Her work is correct howover, in revlewing her work the standards were crossed out. Tho total material price variance for tha lamp shades purchased: The variable overheod efficiency variance: The variable OH spending variance: The fixed OH volume (denominator) variance: The fixed OH spending variancer What was the standard cost of a Larnp Shade? What was the standard cost per lamp for the variable overhead? What was the budgeted fixed overhead? What was the standard cost per lamp for the fixed overhaad? What was the monthly expected production of customized lamps that was used to determine the standard fixed overhead rate Step by Step Solution
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