Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Monty Unlimited provided the following information. Actual materials (purchased and used) 219,000 ml @ $0.32 per ml Actual direct labour 748 hours @ $13.00 per

Monty Unlimited provided the following information.

Actual materials (purchased and used) 219,000 ml @ $0.32 per ml
Actual direct labour 748 hours @ $13.00 per hour
Actual variable overhead 990 machine hours @ $4.90 per machine hour
Actual fixed overhead $20,087

Materials Price Variance $10,950 U
Materials Quantity Variance $2,241 U
Labour Rate Variance $748 F
Labour Efficiency Variance $182 U
Variable Overhead Spending Variance $99 F
Variable Overhead Efficiency Variance $50 U
Fixed Overhead Budget Variance $1,370 U

Normal capacity is 5,100 bottles of fragrance. Actual production this quarter was 4,900 bottles of fragrance.

Develop the standard cost card for Monty Unlimited. Include materials, labour, variable overhead, and fixed overhead.?

Total Standard Cost

Direct Materials $_______

Direct Labour ______

Variable Overhead _____

Fixed Overhead ______

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

Step: 3

blur-text-image

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

Financial Accounting Group

Authors: Ilse Lubbe, Shelley Herbert, Goolam Modack

1st Edition

0195998634, 9780195998634

More Books

Students also viewed these Accounting questions

Question

=+What do you think about the CDFI Fund, establish in 1994?

Answered: 1 week ago