Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please provide work and explanation. Answer questions 1 to 6 based on the following information: Cox Engineering performs cement core tests in its laboratory. The

Please provide work and explanation.

Answer questions 1 to 6 based on the following information: Cox Engineering performs cement core tests in its laboratory. The following standards have been set for each core test performed: Standard Hours or Quantity Standard Price or Rate Direct materials ....................................3 pounds. $0.75 per pound Direct labor ..........................................0.4 hours $12 per hour Variable manufacturing overhead ......0.4 hours $9 per hour During March, the laboratory performed 2,000 core tests. On March 1 no direct materials (sand) were on hand. Variable manufacturing overhead is assigned to core tests on the basis of direct labor hours. The following events occurred during March: 8,600 pounds of sand were purchased at a cost of $7,310. 7,200 pounds of sand were used for core tests. 840 actual direct labor hours were worked at a cost of $8,610. Actual variable manufacturing overhead incurred was $3,200. 1. The materials price variance for March was: 2. The materials quantity usage variance for March was: 3. The direct labor rate variance for March was: 4. The direct labor efficiency variance for March was: 7 5. The variable overhead spending variance for March was: 6. The variable overhead efficiency variance for March was:

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Accounting

Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik

10th edition

0-07-794127-6, 978-0-07-79412, 978-0077431808

Students also viewed these Accounting questions