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Need Help with requirements 1A, 2A and Req 3. Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, called Fludex, is prepared
Need Help with requirements 1A, 2A and Req 3.
Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, called Fludex, is prepared using an elaborate distilling process. The company has developed standard costs for one unit of Fludex, as follows: Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard Quantity or Hours 2.50 ounces 0.70 hours 0.70 hours Standard Price or Rate $19.00 per ounce $15.00 per hour $ 4.00 per hour Standard Cost $ 47.50 10.50 2.80 $ 60.80 During November, the following activity was recorded related to the production of Fludex: a. Materials purchased, 12,500 ounces at a cost of $223,125. b. There was no beginning inventory of materials; however, at the end of the month, 3,250 ounces of material remained in ending inventory. c. The company employs 21 lab technicians to work on the production of Fludex. During November, they each worked an average of 150 hours at an average pay rate of $12.50 per hour. d. Variable manufacturing overhead is assigned to Fludex on the basis of direct labor-hours. Variable manufacturing overhead costs during November totaled $5,100. e. During November, the company produced 3,500 units of Fludex. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2A Req 2B Req3 For direct materials, compute the price and quantity variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Materials price variance Materials quantity variance Req 1A Req 1B Req 2A Req 2B Req3 For direct labor, compute the rate and efficiency variances. (Indicate the effect of each variance by selecting "F" for favorab "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Labor rate variance Labor efficiency variance Regla Reg 18 Reg za Req 1A Reg 2B Req3 Req 1B Req 2A Req 2B Req3 Compute the variable overhead rate and efficiency variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Variable overhead rate variance Variable overhead efficiency varianceStep by Step Solution
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