Question
Question 5 Chapter 10 Working With Variances From the following data, determine the total actual costs incurred for direct material, direct labor, and variable overhead.
Question 5 Chapter 10
Working With Variances
From the following data, determine the total actual costs incurred for direct material, direct labor, and variable overhead.
| Standard Costs | Variances | |||
|---|---|---|---|---|
| Direct material | $155,000 | |||
| Price variance | 3,000 | U | ||
| Quantity variance | 4,000 | F | ||
| Direct labor | 135,000 | |||
| Rate variance | 1,400 | U | ||
| Efficiency variance | 1,800 | U | ||
| Variable overhead | 79,000 | |||
| Spending variance | 1,000 | F | ||
| Efficiency variance | 600 | U | ||
| Actual Costs | |
|---|---|
| Direct material |
|
| Direct labor |
|
| Variable overhead |
|
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Financial Accounting Version 3.0
Authors: Leah Kratz, Joe Ben Hoyle, C. J. Skender
3rd Edition
1453392904, 9781453392904
