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Please Answer part C!! PR 23-3A Direct materials, Direct Labor and factory overhead cost variance PR 23-3A Direct materials, direct labor, and factory overhead cost
Please Answer part C!!
PR 23-3A Direct materials, Direct Labor and factory overhead cost variance
PR 23-3A Direct materials, direct labor, and factory overhead cost variance OBJ. 3, 4 analysis Adamantane Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 15,000 units of product were as follows: Standard Costs Actual Costs Direct materials 5,000 lbs. at $50.00 4,950 lbs. at $50.60 Direct labor 3,000 hrs. at $25.00 2,945 hrs. at $25.60 Factory overhead Rates per direct labor hr. based on 100% of normal capacity of 3,200 direct labor hrs.. Variable cost, $5.50 $16,680 variable cost Fixed cost, $4.00 $12,800 fixed cost Each unit requires 0.2 hour of direct labor. Instructions Determine (a) the direct materials price variance, direct materials quantity variance, and total direct materials cost variance; (b) the direct labor rate variance, direct labor time vari- ance, and total direct labor cost variance; and (c) the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost varianceStep by Step Solution
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