Answered step by step
Verified Expert Solution
Question
1 Approved Answer
part b Bramble Corporation accumulates the following data relative to jobs started and finished during the month of June 2022. Costs and Production Data Actual
part b
Bramble Corporation accumulates the following data relative to jobs started and finished during the month of June 2022. Costs and Production Data Actual Standard Raw materials unit cost $2 Raw materials units 10,900 Direct labor payroll $159.600 Direct labor hours 15,200 Manufacturing overhead incurred Manufacturing overhead applied $226,176 Machine hours expected to be used at normal capacity 42,500 Budgeted fixed overhead for June $72,250 Variable overhead rate per machine hour $3.10 Fixed overhead rate per machine hour $1.70 Overhead is applied on the basis of standard machine hours. Three hours of machine time are required for each direct labor hour. The jobs were sold for $456,000. Selling and administrative expenses were $36.500. Assume that the amount of raw materials purchased equaled the amount used. $2.00 11,500 $163,900 14,900 $223,976 Your answer is correct. Compute all of the variances for (1) direct materials and (2) direct labor. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 52.) (1) Total materials variance $ 1.200 Unfavorable Materials price variance Unfavorable Materials quantity variance $ Unfavorable Total labor variance Unfavorable Labor price variance $ Unfavorable Labor quantity variance Favorable (2) 0 i 1.200 i 4.300 i 7,450 i 3150 (b) Your answer is incorrect. Compute the total overhead variance. Total overhead variance $ eTextbook and Medial List of Accounts Save for Later Favorable. : Attempts: 1 of 5 used Submit Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started