Required information Use the following information for the Problems below. (Static) [The following information applies to the questions displayed below. Trini Company set the following standard costs per unit for its single product. $120.00 70.00 Direct materials (30 pounds @ $4 per pound) Direct labor (5 hours @ $14 per hour) Variable overhead (5 hours @ $8 per hour) Fixed overhead (5 hours @ $10 per hour) Standard cost per unit 40.00 50.00 $ 200.00 Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level of 80% of the company's capacity of 60,000 units per quarter. The following additional information is available. Operating Levels 70% 80% 90% Production (in units) Standard direct labor hours (5 DLH/unit)) 42,000 units 210,000 hours. 45,000 units 240,000 hours. 54,000 units 270,000 hours. Budgeted overhead (flexible budget) Fixed overhead Variable overhead $ 2,400,000 $1,680,000 $ 2,400,000 $ 1,920,000 $2,400,000 $ 2,160,000 During the current quarter, the company operated at 90% of capacity and produced 54,000 units; actual direct labor totaled 265,000 hours. Units produced were assigned the following standard costs. $ 6,480,000 Direct materials (1,620,000 pounds & $4 per pound) Direct labor (270,000 hours @ 114 per hour) 3,780,000 During the current quarter, the company operated at 90% of capacity and produced 54,000 units: actual direct labor totaled 265,000 hours. Units produced were assigned the following standard costs. Direct materials (1,620,000 pounds @ $4 per pound) Direct labor (270,000 hours @ $14 per hour) Overhead (270,000 hours @ $18 per hour) Standard (budgeted) cost $6,400,000 3,780,000 4,560,000 $ 15,120,000 Actual costs incurred during the current quarter follow, Direct materials (1,615,000 pounds @ $4.10 per pound) Direct labor (265,000 hours @ $13.75 per hour) $6,621,500 3,643,750 2,150,000 2,200,000 Fixed overhead Variable overhead Actual cost $14,815,250 Problem 21-4A (Static) Computing materials, labor, and overhead variances LO P3, P4 Required: 1. Compute the direct materials variance, including its price and quantity variances. 2. Compute the direct labor variance, including its rate and efficiency variances. 3. Compute the overhead controllable and volume variances. Complete this question by entering your answers in the tabs below. Check my work Check my work Required information Req 1 Reg 2 Reg 3 Controllable Variance Req 3 Volume Variance Compute the direct materials variance, including its price and quantity variances. (Indicate the effect of each variance by selecting favorabile, unfavorable, or no vartance. Round "Cos decimal places.) Actual Cost Standard Cost Actual quantity Actual price Actual Quantity Standard price x x 9 x $ 265,000.00 $ 2,120.000 0 Variable overhead spending variance Unfavora Favorable Unfavorable Variable overhead efficiency variance Total variable overhead cost variance 8 $ 0 $ $ $ 0 0 40,000 Hest S Req 2 > Check my work Required information Reg 3 Volume Reg 1 Raq 2 Req 3 Controllable Variance Variance Compute the direct labor variance, including its rate and efficiency variances. Cindicate the effect of each variance by selecting favorabile, unfavorable, or no variance. Round "Cost pe to two decimal places) Actual Cost Standard Cast S 0 * 0 Req 3 Controllable Variance > S Part 1 of 2 5 points ebook Prant References Required information comprar un CRI YUNU, Hy sa nu CIRCKILY VOIR 3. Compute the overhead controllable and volume variances. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Req 3 Controllable Variance Req 3 Volume Variande Compute the overhead volume variances. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Volume variance Budgeted total overhead Standard overhead applied i Volume variance
