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QUESTION 6 Kansas Incorporated has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to
QUESTION 6 Kansas Incorporated has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. Inputs Direct materials Standard Quantity or Hours per Unit of Output 9.5 liters Direct labor 0.4 hours Standard Price or Rate $8.75 per $37.85 per hour $7.10 per hour Variable manufacturing overhead 0.4 hours The company has reported the following actual results for the product for September: Actual output unit 10,950 S 102,600 liters $896,050 Raw materials purchased Actual cost of raw materials purchased Raw materials used in production Actual direct labor-hours Actual direct labor cost Actual variable overhead cost 102,820 liters 4,310 hours $166,625 $32,325 Required: show your work 28 points a. Compute the materials price variance for September. b. Compute the materials quantity variance for September. c Compute the labor rate variance for September. d. Compute the labor efficiency variance for September. e. Compute the variable overhead rate variance for September. f. Compute the variable overhead efficiency variance for September. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Joput all amounts as positive values.)
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