Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help with the following What raw materials cost would be included in the companys planning budget for March? What raw materials cost would

I need help with the following

image text in transcribed

  1. What raw materials cost would be included in the companys planning budget for March?
  2. What raw materials cost would be included in the companys flexible budget for March?
  3. What is the materials price variance for March?
  4. What is the materials quantity variance for March?
  5. If Preble had purchased 189,000 pounds of materials at $9.50 per pound and used 180,000 pounds in production, what would be the materials price variance for March?
  6. If Preble had purchased 189,000 pounds of materials at $9.50 per pound and used 180,000 pounds in production, what would be the materials quantity variance for March?
  7. What direct labor cost would be included in the companys planning budget for March?
  8. What direct labor cost would be included in the companys flexible budget for March?
  9. What is the labor rate variance for March?
  10. What is the labor efficiency variance for March?
  11. What is the labor spending variance for March?
  12. What variable manufacturing overhead cost would be included in the companys planning budget for March?
  13. What variable manufacturing overhead cost would be included in the companys flexible budget for March?
  14. What is the variable overhead rate variance for March?
  15. What is the variable overhead efficiency variance for March?

Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: The planning budget for March was based on producing and selling 29,000 units. However, during March the company actually produced and sold 34,200 units and incurred the following costs: a. Purchased 180,000 pounds of raw materials at a cost of $9.50 per pound. All of this material was used in production. b. Direct laborers worked 74,000 hours at a rate of $15 per hour. c. Total variable manufacturing overhead for the month was $440,300

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting

Authors: John Hoggett, Lew Edwards, John Medlin

6th Edition

0470806583, 978-0470806586

More Books

Students also viewed these Accounting questions