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Please find solution to all cells highlighted in yellow and whether or not price and efficiency variance are favorable or unfavorable thank you !!! Actual
Please find solution to all cells highlighted in yellow and whether or not price and efficiency variance are favorable or unfavorable thank you !!!
Actual Direct Materials Actual Input Quantity x Budgeted (Std) Price Purchases Flexible Budget (Applied) Cost Example: $ 810,000 Usage Price Variance Efficiency Variance Actual cost and data from the current month: Actual number of yards of materials purchased Actual cost of materials purchased Actual number of yards used in production Actual number of costumes produced Actual direct labor hours Actual direct labor cost Actual variable MOH (in total) Actual fixed MOH (in total) 28,500 $ 810,000 $ 28.42 per yd 27,350 2,300 133,500 $ 5,500,000 $ 41.20 per hr $ 665,000 $ 1,488,000 12.50 yards 26.00 average $ Standards (for a planned level of production of 2,200 units per month) Direct Materials: Yards per costume Price per yard Direct Labor: D.L. Hours per costume D.L. Rate per hour Variable MOH standard rate per direct labor hour Fixed MOH standard rate per direct labor hour Total Budgeted Fixed MOH (for 1 month) A A A 62.00 hours $ 44.50 average $ 4.35 per D.L. hour $ 9.47 per D.L. hour $ 1,250,000Step by Step Solution
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