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please I need help with the yellow boxes Standard Job Order Costing Variance Analysis Special arder lamps are manufactured in division S. Because of the
please I need help with the yellow boxes
Standard Job Order Costing Variance Analysis Special arder lamps are manufactured in division S. Because of the precise nature of the process a standard cost system has been derveloped. The following standards are used for the specisl arders: " Fixed overhasd is based on expected production of 4,008 custamized lamps each manth. To keep records of the actual cost of a job, a Jlob Order Cost System has been developed. Entries are made to the Job Order Syslem at actual cost (overhesd is applied based on actual labor hours) while ertries are made to the acocurting systam at standard. Variance arslysis is used to aralyze the differences. Jab Order Casing Saction On January 1, 20.2, Division S began Jab 1101 for the Cliert, THE BIG CHILDREN STORE. The job called for 4,000 customized lamps. The following set of transactions oocurred from January 5 uril the job was completed: Note: Show favorable variances as negative numbers What was the total material price variance for the Lamp Kits purchased? What was the material usage variance for Lamp Kits? What was the direct labor efficiency variance ? What was the direct labor rate variance? Note: Show favorable variances as negative numbers What was the variable overhead efficiency variance ? What was the variable OH spending variance? What is the fixed OH volume (denominator) variance? What is the fixed OH spending variance? Standard Job Order Costing Variance Analysis Special arder lamps are manufactured in division S. Because of the precise nature of the process a standard cost system has been derveloped. The following standards are used for the specisl arders: " Fixed overhasd is based on expected production of 4,008 custamized lamps each manth. To keep records of the actual cost of a job, a Jlob Order Cost System has been developed. Entries are made to the Job Order Syslem at actual cost (overhesd is applied based on actual labor hours) while ertries are made to the acocurting systam at standard. Variance arslysis is used to aralyze the differences. Jab Order Casing Saction On January 1, 20.2, Division S began Jab 1101 for the Cliert, THE BIG CHILDREN STORE. The job called for 4,000 customized lamps. The following set of transactions oocurred from January 5 uril the job was completed: Note: Show favorable variances as negative numbers What was the total material price variance for the Lamp Kits purchased? What was the material usage variance for Lamp Kits? What was the direct labor efficiency variance ? What was the direct labor rate variance? Note: Show favorable variances as negative numbers What was the variable overhead efficiency variance ? What was the variable OH spending variance? What is the fixed OH volume (denominator) variance? What is the fixed OH spending varianceStep by Step Solution
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