2 Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expense Net operating income 1,945 2.960 5,905 3,990 1,060 1,181 17,041 $ 9,559 2.8 points Skipped Required: Calculate the company's revenue and spending variances for August. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect fi.e., zero variance). Input all amounts as positive values.) eBook Qullcene Oysteria Revenue and Spending Variances For the Month Ended August 31 Hint Revenue Print References Expenses Packing supplies Oyster bed maintenance Wages and salarios Shipping Utilities Other Total expense Net operating income 3 Exercise 9-4 Direct Materials Variances (LO9-4) 8 oints Skipped Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30, the company manufactured 3,700 helmets. using 2,109 kilograms of plastic. The plastic cost the company $13,919. According to the standard cost card, each helmet should require 0.50 kilograms of plastic, at a cost of $7.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,700 helmets? 2. What is the standard materials cost allowed (SQ SP) to make 3,700 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) eBook Hint Print 1 2 References 3. Standard quantity of kilograms allowed Standard cost allowed for actual output Materials spending variance Materials price variance Materials quantity variance 4. 5 Exercise 9-6 Variable Overhead Variances (LO9-6) 2.8 points eBook Hint Logistics Solutions provides order fulfillment services for dot.com merchants. The company maintains warehouses that stock items carried by its dot.com clients. When a client receives an order from a customer, the order is forwarded to Logistics Solutions, which pulls the item from storage, packs it, and ships it to the customer. The company uses a predetermined variable overhead rate based on direct labor-hours. In the most recent month, 175,000 items were shipped to customers using 7,400 direct labor-hours. The company incurred a total of $24,790 in variable overhead costs. According to the company's standards, 0.04 direct labor-hours are required to fulfill an order for one item and the variable overhead rate is $3.40 per direct labor-hour. Required: 1. What is the standard labor-hours allowed (SH) to ship 175,000 items to customers? 2. What is the standard variable overhead cost allowed (SHSR) to ship 175,000 items to customers? 3. What is the variable overhead spending variance? 4. What is the variable overhead rate variance and the variable overhead efficiency variance? (For requirements 3 and 4, indicate the effect of each variance by selecting for favorable, "U" for unfavorable, and "None" for no effect (ie, zero variance). Input all amounts as positive values. Do not round intermediate calculations.) Print References 1. Standard quantity of labor hours allowed 2. Standard variable overhead cost allowed 3. Variable overhead spending variance 4. Variable overhead rate variance Variable overhead officiency variance
