QUESTION 1

PART 1

Required Information [The following Information applies to the questions displayed below A manufactured product has the following Information for June. Standard Actual Direct materials 6 1bs. @ $7 per 1b. 53,980 1bs. @ $7.10 per 1b. Direct labor 2 hrs. @ $17 per hr. 17,580 hrs. @ $17.50 per hr. Overhead 2 hrs. @ $13 per hr. $217,980 Units manufactured 8.909 (1) Compute the standard cost per unit. (2) Compute the total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the total cost variance for June. (Indicate the effect of each variance by selecting for favorable, unfavorable, and variance.) Total cost varianceRequired Information [The following Information applies to the questions displayed below) A manufactured product has the following Information for June. Standard Actual Direct materials 6 1bs. @ $7 per 1b. 53,980 1bs. @ $7.10 per 1b. Direct labor 2 hrs. @ $17 per hr. 17,580 hrs. @ $17.50 per hr. Overhead 2 hrs. @ $13 per hr. $237,980 Units manufactured 8,909 [1) Compute the standard cost per unit. (2) Compute the total cost variance for June. Complete this question by entering your answers in the tabs below, Required 1 Required 2 Compute the standard cost per unit. Direct materials Direct labor Overhead TotalRequired Information [The following Information applies to the questions displayed below] A manufactured product has the following Information for June. Standard Actual Direct materials 6 1bs. @ $7 per 1b. 53,980 1bs. @ $7.10 per 1b. Direct labor 2 hrs. @ $17 per hr. 17,500 hrs. @ $17.50 per hr. Overhead 2 hrs. @ $13 per hr. $237,980 Units manufactured Compute the direct materials price variance and the olrect materials quantity variance. (Indicate the effect of each varlance by selecting for favorable. unfavorable, and no variance. Round "Cost per unit" answers to 2 decimal places.) AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Actual Cost Standard CostRequired Information [The following information applies to the questions displayed below] A manufactured product has the following Information for June. Standard Actual Direct materials 6 1bs. g $7 per 1b. 53,900 1bs. @ $7.10 per 1b. Direct labor 2 hrs. @ $17 per hr. 17,500 hrs. @ $17.50 per hr. Overhead 2 hrs. @ $13 per hr. $237,900 Units manufactured 8,900 Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting for favorable. unfavorable, and no variance. Round "Rate per hour" answers to 2 decimal places.) AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Actual Cost Standard Cost