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PLEASE ANSWER THE QUESTIONS BELOW Direct Materials Variances Bellingham Company produces a product that requires five standard pounds per unit. The standard price is $8.5
PLEASE ANSWER THE QUESTIONS BELOW
Direct Materials Variances Bellingham Company produces a product that requires five standard pounds per unit. The standard price is $8.5 per pound. If 2,100 units used 10,100 pounds, which were purchased at $8.93 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct materials price variance b. Direct materials quantity variance $ c. Direct materials cost variance $ Direct Labor Variances Bellingham Company produces a product that requires 9 standard direct labor hours per unit at a standard hourly rate of $17.00 per hour. If 2,800 units used 26,000 hours at an hourly rate of $16.32 per hour, what is the direct labor (a) rate variance, (b) time variance, and (C) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct labor rate variance b. Direct labor time variance $ c. Direct labor cost variance $ Factory Overhead Controllable Variance Bellingham Company produced 2,300 units of product that required 3 standard direct labor hours per unit. The standard variable overhead cost per unit is $2.70 per direct labor hour. The actual variable factory overhead was $18,260. Determine the variable factory overhead controllable variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Factory Overhead Volume Variance Bellingham Company produced 3,900 units of product that required 4 standard direct labor hours per unit. The standard fixed overhead cost per unit is $2.95 per direct labor hour at 17,200 hours, which is 100% of normal capacity. Determine the fixed factory overhead volume variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number
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