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need help with following 1. In October, Pine Company reports 20,800 actual direct labor hours, and it incurs $128,520 of manufacturing overhead costs. Standard hours
need help with following
1.
In October, Pine Company reports 20,800 actual direct labor hours, and it incurs $128,520 of manufacturing overhead costs. Standard hours allowed for the work done is 25,200 hours. The predetermined overhead rate is $4.85 per direct labor hour. Compute the total overhead variance. Total Overhead Variance $ J Favorable Neither favorable nor unfavorable Unfavorable eTextbook and Media Oriole Company is planning to produce 2,200 units of product in 2022. Each unit requires 10 pounds of materials at $62 per pound and a half-hour of labor at $14 per hour' The overhead rate is 70% of direct labor. (3) Compute the budgeted amounts for 2022 for direct materials to be used, direct labor, and applied overhead. Direct materials $ Direct labor 35 Overhead $ (b) Compute the standard cost of one unit of product. (Round answer t02 decimal places, as. 2.75.) Standard cost $ Per Unit *7 1",, ,,,,,,,r,,,,, , ,u, ,1, Maria Company has gathered the following information about its product. Direct materials: Each unit of product contains 3.4 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 0.6 pounds. Materials cost $2 per pound, but Maria always takes the 5% cash discount all of its suppliers offer. Freight costs average $0.45 per pound. Direct labor. Each unit requires 2.8 hours of labor. Setup, cleanup, and downtime average 0.1 hours per unit. The average hourly pay rate of Maria's employees is $13.1. Payroll taxes and fringe benets are an additional $3.0 per hour. Manufacturing overhead. Overhead is applied at a rate of $5.9 per direct labor hour. Compute Maria's total standard cost per unit. (Round answer to 2 decimal places, 2.3. 1.25.) Total standard cost per unit $ Ivanhoe Company's standard labor cost of producing one unit of Product DD is 3.60 hours at the rate of $14.00 per hour. During August, 43,900 hours of labor are incurred at a cost of $14.20 per hour to produce 12,100 units of Product DD. (a) Compute the total labor variance. Total labor variance 35 V (b) Compute the labor price and quantity variances. Labor price variance $ v Labor quantity variance $ V (C) Compute the labor price and quantity variances, assuming the standard is 4.0 hours of direct labor at $14.40 per hour. Labor price variance 53 v Labor quantity variance $ VStep by Step Solution
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