mehttps%2537 52Fnew K-p284 0 Saved co Company set the following standard unit costs for its single product. Direct materials (30 lbs. $5.10 per Ib.) Direct labor (6 hrs. $15 per hr.) Factory overhead-Variable (6 hrs. $7 per hr.) Factory overhead-Pixed (6 hrs. e $11 per hr.) Total standard cost $153.00 90.00 42.00 66.00 $351.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 56,000 units per quarter. The following flexible budget Information is available. Production in units Standard direct labor hours Budgeted overhead Pixed factory overhead Variable factory overhead Operating Levels 700 800 900 39,200 44,800 50,400 235, 200 268,000 302,400 $2,956,800 $2,956,800 $2,956,800 $1,646,400 $1,801,600 $2,116,800 During the current quarter, the company operated at 90% of capacity and produced 50,400 units of product, actual direct labor totaled 299,400 hours. Units produced were assigned the following standard costs. Direct materials (1.512,000 lbs.55.10 per tb.) Direct labor (302,400 hrs. $15 per hr.) Pactory overhead (302,400 hrs. $18 per hr.) Total standard cost $ 7,711.200 4,536,000 5,443,200 $17.690.400 Actual costs incurred during the current quarter follow Direct materials (1.499,000 lbs. 8 $6.30 per lb.) Direct Labor 299,400 hrs. $12.50 per hr.) Tixed factory overhead con Variable factory overhead coats Total actual conta $ 9,43,700 3,742,500 2.604,700 2.438.500 518,229,400 Problem 23-4A Computing materials, labor, and overhead variances LO P3, P4 Required: 1. Compute the direct materials cost variance, including its price and quantity variances 2. Compute the direct labor cost variance, including rate and efficiency variances 3. Compute the overhead controllable and volume variances Complete this question by entering your answers in the the below. 1 Corrie Volume Var Compute the direct materials cont verano, indoing its pre and share. Inde et seal variance by a fortat, untavarat ons vertonen Mall Cast blem 23-4A Computing materials, labor, and overhead variances LO P3, P4 uired: ompute the direct materials cost variance, including its price and quantity variances Compute the direct labor cost variance, including its rate and efficiency variances Compute the overhead contrats and volume variances Complete this question by entering your answers in the the below. Begaw Van Computer altre cost www, Induding turate and efficiency various indicate the effect of each vorne wetture, Worte, ant ne nos per 2 Corte Yash Required: 1. Compute the direct materials cost variance, including its price and quantity variances, 2. Compute the direct labor cost variance, including its rate and efficiency variances. 3. Compute the overhead controllable and volume variances Complete this question by entering your answers in the tabs below. ces Reg 3 Reg 1 Reg 4 Volume Reg 2 Controllable Variance Variance Compute the controllable variance Indicate the effect of each variance by selecting for favorable, unfavorable, and na variance.) Controllablo Varlunce Actual overhead Budgeted overhead Controllable vanance Req2 Req 4 Volume Variance Book Required: 1. Compute the direct materials cost variance, including its price and quantity variances. 2. Compute the direct labor cost variance, including its rate and efficiency variances. 3. Compute the overhead controllable and volume variances. Complete this question by entering your answers in the tabs below. Perences Req3 Reg1 Reg 2 Controllable Reg 4 Volume Variance Variance Compute the volume varlances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Fred overhead volume variance Budgeted fixed overhead Fixed Overhead cost applied Faxed overhead volume variance
