Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Required information The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct labor Overhead
Required information The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $8 poxy lb.) (2 hrs. @ $16 pol hr.) (2 hrs. @ $12 per hr.) Actual 48,500 lbs. @ $8.10 per lb. 15,700 hrs. @ $16.50 per hr. $198,000 8,000 (1) Compute the standard cost per unit. $ 48 Direct materials Direct labor Overhead 32 24 104 Total $ (2) Compute the total cost variance for June. Indicate whether the cost variance is favorable or unfavorable. Total cost variance [The following information applies to the questions displayed below) A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. $8 per 1b.) (2 hrs. $16 per hr.) (2 hrs. $12 per hr.) Actual 48,500 lbs. $8.10 per lb. 15,700 hrs. e $16.50 per hr. $198.000 8,000 Compute the direct materials price variance and the direct materials quantity variance Indicate whether each variance is favorable or unfavorable AQ - Actual Quantity SQ - Standard Quantity APActual Price SP - Standard Price Actual Cost Standard Cost $ 0 $ 0 $ 0 0 9 The following information applies to the questions displayed below) A manufactured product has the following information for June. Direct materiale Direct labor Overhead Units manufactured Standard (6 lbs. $8 per lb.) (2 hrs. 516 per hr.) (2 hrs. @ $12 per hr.) Actual 48,500 lbs. $8.10 per lb. 15,700 hrs. $16.50 per hr. $198.000 8.000 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. AH - Actual Hours SH - Standard Hours AR - Actual Rate SR Standard Rate Actual Cost Standard Cost $ 0 $ 0 $ 0 0
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started