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Please help me correct the wrong answers. Thank you! Kropf Inc. has provided the following date concerning one of the products in its standard cost
Please help me correct the wrong answers. Thank you!
Kropf Inc. has provided the following date concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. Standard Quantity or Hours per Unit Inputs of Output Standard Price or Rate Direct materials 8.70 liters $ 8.30 per liter Direct labor 2.58 hours $27.70 per hour Variable manufacturing overhead 2.50 hours $ 7.20 per hour The company has reported the following actual results for the product for September Actual output Raw materials purchased Actual cost of raw materials purchased Raw materials used in production Actual direct labor-hours Actual direct labor cost Actual variable overhead cost 10,928 units 96,320 liters $823. See 94,850 liters 5,000 hours $142, 302 $ 32,414 Required: a. Compute the materials price variance for September. b. Compute the materials quantity varience for September. C. Compute the labor rate variance for September. d. Compute the labor efficiency variance for September. e. Compute the variable overhead rate variance for September. f. Compute the variable overhead efficiency variance for September (Indicate the effect of each varlance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (Le.. zero variance). Input all amounts as positive values.) Answer is complete but not entirely correct. a b. c. Materials price variance Materials quantity variance Labor rate variance Labor efficiency variance Variable overhead rate variance Variable overhead efficiency variance $ 2,725 U IS 166U S 3.200 X U IS XU 126.087 IS 3.600 XF OOOO f. S 3.240 FStep by Step Solution
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