Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please help me. thank you. Saved Help Save ! Required information [The following information applies to the questions displayed below] Preble Company manufactures one product
please help me. thank you.
Saved Help Save ! Required information [The following information applies to the questions displayed below] Preble Company manufactures one product its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows Direct materials: 5 pounds at $10 per pound Direct labor: 4 hours at $14 per hour Variable overhead: 4 hours at $4 per hour Total standard cost per unit $ se 56 16 $ 122 The planning budget for March was based on producing and selling 29.000 units. However, during March the company actually produced and sold 34,200 units and incurred the following costs: a. Purchased 180,000 pounds of raw materials at a cost of $9.50 per pound. All of this material was used in production b. Direct laborers worked 74,000 hours at a rate of $15 per hour. c. Total variable manufacturing overhead for the month was $440.300. Required: 1. What raw materials cost would be included in the company's planning budget for March? Prey 3 15 Next > HI of 17 The planning budget for March was based on producing and selling 29,000 units. However, durir actually produced and sold 34,200 units and incurred the following costs: es 02:50:47 a. Purchased 180,000 pounds of raw materials at a cost of $9.50 per pound. All of this material b. Direct laborers worked 74,000 hours at a rate of $15 per hour. c. Total variable manufacturing overhead for the month was $440,300. Book cences Required: 1. What raw materials cost would be included in the company's planning budget for March? Raw material cost $ 145,000 Prev 1 2 3 15 of 17 NE The planning budget for March was based on producing and selling 29,000 units. How actually produced and sold 34,200 units and incurred the following costs: :50:34 a. Purchased 180,000 pounds of raw materials at a cost of $9.50 per pound. All of this b. Direct laborers worked 74,000 hours at a rate of $15 per hour. c. Total variable manufacturing overhead for the month was $440,300. ok ences 2. What raw materials cost would be included in the company's flexible budget for March? Raw material cost Prev 2 3 S + 15 of 17 # The planning budget tor March was based on producing and selling 29,000 units. However, during March the company actually produced and sold 34,200 units and incurred the following costs: 15 a. Purchased 180,000 pounds of raw materials at a cost of $9.50 per pound. All of this material was used in production. b. Direct laborers worked 74.000 hours at a rate of $15 per hour. c. Total variable manufacturing overhead for the month was $440,300. 2:21 3. What is the materials price variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input all amounts as positive values.) Materials price variance es a. Purchased 180.000 pounds of raw materials at a cost of $9.50 per pound. All of this material was used in production. b. Direct laborers worked 74,000 hours at a rate of $15 per hour. c. Total variable manufacturing overhead for the month was $440,300. 02:50:05 4. What is the materials quantity variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input all amounts as positive values.) Book rences Materials quantity variance c. Total variable manufacturing overhead for the month was $440,300. 5 of 15 s 5. If Preble had purchased 189,000 pounds of materials at $9.50 per pound and used 180.000 pounds in production, what would be the materials price variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input all amounts as positive values.) 02:49:49 Materials price variance Book erences actually produced and sold 34,200 units and incurred the following costs: a. Purchased 180.000 pounds of raw materials at a cost of $9.50 per pound. All of this material was used in production b. Direct laborers worked 74,000 hours at a rate of $15 per hour. c. Total variable manufacturing overhead for the month was $440,300. 15 E34 6. If Preble had purchased 189.000 pounds of materials at $9.50 per pound and used 180,000 pounds in production, what would be the materials quantity variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input all amounts as positive values.) Materials quantity variance s C 16 Next > The planning budget for March was based on producing and selling 29,000 units. However actually produced and sold 34,200 units and incurred the following costs: Fints 02:49:19 a. Purchased 180,000 pounds of raw materials at a cost of $9.50 per pound. All of this mate b. Direct laborers worked 74,000 hours at a rate of $15 per hour c. Total variable manufacturing overhead for the month was $440,300. eBook References 7. What direct labor cost would be included in the company's planning budget for March? Direct labor cost ic raw 8 9 7 N of 17 co 17 HA a. Purchased 180,000 pounds of raw materials at a cost of $9.50 per pound. All of this material was used in production b. Direct laborers worked 74,000 hours at a rate of $15 per hour. c. Total variable manufacturing overhead for the month was $440,300. 11. What is the labor spending variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "Ufor unfavorable, and "None" for no effect (i.e., zero variance.). Input all amounts as positive values.) Labor spending variance 5 a. Purchased 180,000 pounds of raw materials at a cost of $9.50 per pound. All of this material was used in produ b. Direct laborers worked 74,000 hours at a rate of $15 per hour. c. Total variable manufacturing overhead for the month was $440,300. s 12. What variable manufacturing overhead cost would be included in the company's planning budget for March? Variable manufacturing overhead cost 1:05 Taw materials at a cost of $9.50 per pound. All of this material was used in production b. Direct laborers worked 74,000 hours at a rate of $15 per hour. c. Total variable manufacturing overhead for the month was $440,300. es 13. What variable manufacturing overhead cost would be included in the company's flexible budget for March? Variable manufacturing overhead cost pound. All of this material was used in production 4,000 hours at a rate of $15 per hour c. Total variable manufacturing overhead for the month was $440,300 14. What is the variable overhead rate variance for March? (Round the actual overhead rate to two decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (le, zero variance.). Input amounts as positive values.) Variable overhead rate variance 15. What is the variable overhead efficiency variance for March? (Round the actual overhead rate to two decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect le sero variance out amounts as positive values.) Variable overhead efficiency varianceStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started