Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 11 of 16 - / 10 View Policies Current Attempt in Progress Kohler Clothiers manufactures women's business suits. The company uses a standard cost

image text in transcribed

Question 11 of 16 - / 10 View Policies Current Attempt in Progress Kohler Clothiers manufactures women's business suits. The company uses a standard cost accounting system. In March 2020, 14,800 suits were made. The following standard and actual cost data applied to the month of March when normal capacity was 22,500 direct labour hours. All materials purchased were used in production: Actual Cost Element Standard (per unit) Direct materials 7 mat $6.50 per metre $743.820 for 101.200 m m ($7.35 per metre) Direct labour 1 hour at $11.30 per hour $157,300 for 14.300 hours ($11.00 per hour) Overhead 1 hour at $8.80 per hour $126.000 fixed overhead (fixed $6.10; variable $2.70) $50,000 variable overhead Overhead is applied based on direct labour hours. At normal capacity, budgeted fixed overhead costs were $137.250, and budgeted variable overhead costs were $60.750. (a) Calculate the total, price, and quantity variances for materials and labour, and calculate the total, overhead, and volume variances for manufacturing overhead. Materials price variance $ Materials quantity variance $ Total materials variance $ Labour price variance $ Labour quantity variance $ Total labour variance $ Total overhead variance $ Overhead budget variance $ Overhead volume variance $ Save for Later Attempts: 0 of 1 used Submit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Sound Investing, Chapter 22 - Management Discussion And Analysis

Authors: Kate Mooney

1st Edition

007171944X, 9780071719445

More Books

Students also viewed these Accounting questions

Question

How does innovation impact on design?

Answered: 1 week ago