Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Show Attempt History Current Attempt in Progress Your answer is partially correct Crane Corporation manufactures a single product. The standard cost per unit of product

image text in transcribed
image text in transcribed
image text in transcribed
Show Attempt History Current Attempt in Progress Your answer is partially correct Crane Corporation manufactures a single product. The standard cost per unit of product is shown below $8.00 17.55 Direct materiais- 1 pound plastic at $8.00 per pound Direct labor-1.56 hours at $11.70 per hour Variable manufacturing overhead Fixed manufacturing overhead Total standard cost per unit 9.75 5.25 $40.55 The predetermined manufacturing overhead rate is $10 per direct labor hour ($15.00 +1.50), was computed from a master manufacturing overhead budget based on normal production of 8,100 direct labor hours (5,400 units) for the month. The master budget showed total variable costs of $52,650 (56.50 per hour) and total fixed overhead costs of $28.350 (53.50 per hour). Actual costs for October in producing 3.200 units were as follows. Direct materials (3,380 pounds) $27.378 Direct labor (4.700 hours) 55.930 Variable overhead 35,518 Compute all of the materials and labor Total materials variance $ Materials price variance $ Materials quantity variance $ Total labor variance $ Labor price variance $ $ Labor quantity variance (b) ) (b) Compute the total overhead variar Total overhead variance $ ta e Textbook and Media

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Income Tax Fundamentals 2013

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

31st Edition

1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516

Students also viewed these Accounting questions