Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Songsu Co. is struggling to control costs. We are hired as consultants to determine why the company's actual costs exceed budgetec costs. The Tableau Dashboard
Songsu Co. is struggling to control costs. We are hired as consultants to determine why the company's actual costs exceed budgetec costs. The Tableau Dashboard is provided for our analysis. Direct Materials Price Per Unit Price Per Pound Standard 4lbs per unit $6 per pount Actual 6lbs per unit $7 per pound Direct Labor Hours Per Unit Standard 2 hours per unit Actual 2.5 hours per unit Price per Hour $17 per hour $14 per hour Overhead - Standard Costs Fixed Overhead Variable Overhead Price Per Hour $6 per hour $12 per hour Hours Per Unit 2 hours per unit 2 hours per unit Overhead - Actual Costs Variable Overhead $101,000 Fixed Overhead $68,000 Total Overhead $169,000 Actual Units Manufactured Actual Units Manufactured 5,100 units 1. Compute the standard cost per unit. 2. Compute the total cost variance. Indicate whether this cost variance is favorable, unfavorable or no variance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the standard cost per unit. Direct materials Direct labor Overhead Total $ Required 1 Required 2 Compute the total cost variance. Indicate whether this cost variance is favorable, unfavorable or no variance. Total cost variance
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