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Please put the answer into a chart like shown in question and answer questions below it , Thank you! Information provided: Champlain Manufacturing has two
Please put the answer into a chart like shown in question and answer questions below it Thank you!
Information provided: Champlain Manufacturing has two direct cost categories: direct materials and direct labor costs. The company's variable manufacturing overhead is allocated to products based on standard direct labor hours. The following information indicates the standards of Champlain's manufacturing costs: Direct cost ca ories Direct materials Direct Labor Manufacturing Overhead 7.4 0.25 Standard Quantity pounds per output unit hours er out ut unit S Cost per Input Unit 11.15 per pound 21.50 er hour Cost per Input Unit Variable manufacturin Overhead May data Direct materials purchased and used Direct Labor Actual variable manufacturing overhead Actual Production c 9.25 10.75 22.25 per Direct Labor Hour per pound per hour S 91,000 pounds 4,300 labor hours 32,500 12 500 output units D Parta)and Part b) "Calculate th following variances: Direct Materials Price Variance and Direct Mateiials Quantity Variance Direct Materials Variance: Units Produced Direct Materials Materials/Units Produced Price/Unit Total Cost Total Direct Materials Variance Actual Results/ Units AP Total Actual 'Results AQ AQ x AP Price Variance DMPV F AQxSP F Quantity or or Variance DMQV Total Standard Allowed SQxSP Allowed/ Unit AQ DMV Provide a possible reason for the favorable or unfavorable Direct Materials Price Variance. Provide a possible reason for the favorable or unfavorable Direct Materials Quantity Variance. Provide a possible reason for the favorable or unfavorable Total Direct Materials Variance.
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