Problem 16 71 (Algo) Find Actual and Budget Amounts from Variances (LO 16 5, 6) J W Corporation manufactures a new electronic game console The current standard cost sheet for a game console follows Direct materials, kilograms at $8 per kilogram $ per game Direct labor, 0 75 hours at per hour per game Overhead, 0 75 hours at per hour per game Total costs $ 45 per game Assume that the following data appeared in J Ws records at the end of the past month Actual production 41,000 units Actual sales 38,000 units Materials (127,500 kilograms) Materials price variance 54,000 U Materials efficiency variance 36,000 U Direct labor price variance 19,600 U Direct labor (28,000 hours) 501,200 Underapplied overhead (total) 19,500 U There are no materials inventories Required a 1 Complete the standard cost sheet for a game console given below a 2 Prepare a variance analysis for direct materials and direct labor b Assume that all production overhead is fixed and that the $19,500 underapplied is the only overhead variance that can be computed What are the actual and applied overhead amounts Complete the standard cost sheet for a game console given below (Do not round intermediate calculations Round your answers to 2 decimal places ) Direct materials, 2 90selected answer incorrect kilograms at $8 per kilogram $17 40selected answer incorrect per game Direct labor, 0 75 hours at $17 30selected answer incorrect per hour $12 98selected answer incorrect per game Overhead, 0 75 hours at $15 50selected answer incorrect per hour $11 63selected answer incorrect per game Total costs $45 per game Req A1 Req A1 Req A2 Req B Prepare a variance analysis for direct materials and direct labor (Do not round intermediate calculations Indicate the effect of each variance by selecting F for favorable, or U for unfavorable If there is no effect, do not select either option ) Direct materials Price variance $6selected answer incorrect Uselected answer correct Efficiency variance $3selected answer incorrect Uselected answer correct Direct labor Price variance $17selected answer incorrect Fselected answer incorrect Efficiency variance $47,575selected answer incorrect Fselected answer correct Assume that all production overhead is fixed and that the $19,500 underapplied is the only overhead variance that can be computed What are the actual and applied overhead amounts Overhead Actual $495,925selected answer incorrect Applied $476,625selected answer incorrect

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Problem 16-71 (Algo) Find Actual and Budget Amounts from Variances (LO 16-5, 6) J&W Corporation manufactures a new electronic game console. The current standard cost

Problem 16-71 (Algo) Find Actual and Budget Amounts from Variances (LO 16-5, 6)

J&W Corporation manufactures a new electronic game console. The current standard cost sheet for a game console follows.


Direct materials, ? kilograms at $8 per kilogram	$	?	per game
Direct labor, 0.75 hours at ? per hour		?	per game
Overhead, 0.75 hours at ? per hour		?	per game
Total costs	$	45	per game

Assume that the following data appeared in J&Ws records at the end of the past month.


Actual production	41,000	units
Actual sales	38,000	units
Materials (127,500 kilograms)	?
Materials price variance	54,000	U
Materials efficiency variance	36,000	U
Direct labor price variance	19,600	U
Direct labor (28,000 hours)	501,200
Underapplied overhead (total)	19,500	U

There are no materials inventories.

Required:

a-1. Complete the standard cost sheet for a game console given below. a-2. Prepare a variance analysis for direct materials and direct labor. b. Assume that all production overhead is fixed and that the $19,500 underapplied is the only overhead variance that can be computed. What are the actual and applied overhead amounts?

Complete the standard cost sheet for a game console given below. (Do not round intermediate calculations. Round your answers to 2 decimal places.)


Direct materials,	2.90selected answer incorrect	kilograms at $8 per kilogram	$17.40selected answer incorrect	per game
Direct labor, 0.75 hours at	$17.30selected answer incorrect	per hour	$12.98selected answer incorrect	per game
Overhead, 0.75 hours at	$15.50selected answer incorrect	per hour	$11.63selected answer incorrect	per game
Total costs			$45	per game

Req A1

Req A1
Req A2
Req B

Prepare a variance analysis for direct materials and direct labor. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.)

Direct materials:
Price variance	$6selected answer incorrect	Uselected answer correct
Efficiency variance	$3selected answer incorrect	Uselected answer correct
Direct labor:
Price variance	$17selected answer incorrect	Fselected answer incorrect
Efficiency variance	$47,575selected answer incorrect	Fselected answer correct

Assume that all production overhead is fixed and that the $19,500 underapplied is the only overhead variance that can be computed. What are the actual and applied overhead amounts?