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Please Help! Comprehensive Piedmont Manufacturing produces metal products with the following standard quantity and cost information: Overhead rates were based on normal monthly capacity of
Please Help! Comprehensive Piedmont Manufacturing produces metal products with the following standard quantity and cost information: Overhead rates were based on normal monthly capacity of 9,600 machine hours. During November, the company produced only 1360 units because of a labor strike, which occurred during union contract negotiations. After the dispute was settled, the company scheduled overtime to try to meet regular production levels. The following costs were incurred November: a. Determine the following variances for November. Note: Do not use negative signs with your answers. a. Total material price variance \$ b. Total material usage (quantity) variance $ c. Labor rate variance $ x d. Labor efficiency variance $ e. Variable overhead spending variance $ f. Variable overhead efficiency variance $ g. Fixed overhead spending variance $x h. Volume variance \$ 1. Budget variance $x b. Prepare the journal entries to record the standard costing information for November. Note: Record any multiple debits or any multiple credits in alphabetical order by account name. BusinessCourse Marks for this submission: 12.67/20.00
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