Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

SunAir Boat Company produces lightweight canoes. You are given following information from the cost data for October 2 0 1 7 . The standard cost

SunAir Boat Company produces lightweight canoes. You are given following information from the cost data for October 2017. The standard cost of direct material and direct labor per unit of output includes 200 kg of direct materials at budgeted price of Rs.10 per kg and 50 hours of direct labor at Rs.60 per hour.
Actual units of material used 300,000 kg
Direct Material Flexible Budget Variance DM cost variance Rs.-5,25,000(U) Direct Material Usage Variance Rs.-6,00,000(U)
Direct Labor Usage Variance Rs.-240,000(U)
Direct Labor Rate Variance Rs.-640,000(U)
Calculate following and wherever applicable indicate clearly favorable (F) or unfavorable (U):
Actual Production _______________
Material price variance _______________
Actual material cost incurred _______________
Actual price per unit of raw material ________________
Actual direct labor cost for the month ________________
Actual direct labor hours ________________

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Accounting Principles A Business Perspective

Authors: Roger H. Hermanson, James Don Edwards, Michael W. Maher

1st Edition

1680921851, 978-1680921854

More Books

Students also viewed these Accounting questions

Question

Describe several uses for a position description.

Answered: 1 week ago