Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please show all work Z Paragraph KI @ C. Standard Costing and Variance Analysis WizleCo produces bicycles. The following standard cost sheet has been developed
please show all work
Z Paragraph KI @ C. Standard Costing and Variance Analysis WizleCo produces bicycles. The following standard cost sheet has been developed from historical data: Direct Materials 12 pounds @ $ 2.00 per pound Direct Labor 2 DLH @ $15.00 per DLH Variable MOH 1 MHR $10,00 per MHR Fixed MOH 1 MHR $20.00 per MHR Production was forecast to be 2,000 units, but only 1,950 were actually produced. 26,000 pounds of materials were purchased for 566,300. A total of 23,000 pounds of materials were used in production. Actual direct labor totaled 4,000 DIH, costing S48,000. Forecast variable overhead was $10,000, and forecast fixed overhead was $40,000, Actual variable overhead was $11.000. Actual fixed overhead was $38,000. Actual machine hours totaled 1,900 MHR. 21. (5 POINTS) Calculate the direct materials price variance. ANSWER: 22 (S POINTS) Calculate the direct materials usage variance. ANSWER: 23. (S POINTS) Calculate the direct labor efficiency variance ANSWER: 24 (5 POINTS) Calculate the direct labor rate variance Step 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