Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

the following summarized manufacturing data relate to Thomas Corporation's April operations during which 2000 finished units were produced. Normal capacity is 1100 DLH. determine the

the following summarized manufacturing data relate to Thomas Corporation's April operations during which 2000 finished units were produced. Normal capacity is 1100 DLH.

image text in transcribed

determine the following variances: materials variances: actual cost.....$ split cost.........$ standard cost..$ materials efficiency..$

labor variances: actual cost $ split cost $ standard cost $ labor rate. $ labor efficiency $

var. overhead variances actual cost $ split cost $ standard cost $ var. OH spending $ var OH efficiency $

April operations, during which 2,000 finished units of product were produs Normal monthly capacity is 1,100 direct labor hours Stamdard Units Costs Tgtal Actual Costs Direct material Standard (2 lb.@ $9.00/lb.) $18 Actual (4,200 lb. $10.20/lb.) $42,840 Direct labor Standard (0.5 hr. @ $24/hr.) $12 Actual (950 hrs. @ $23.40/hr.) 22,230 Variable overhead Standard (0.5 hr.@ $6/hr.) $3 Actual 6,450 Total $33 $71,520 Determine the following variances: Do not use negative signs with any of your answers. Next to each variance answer, select either "F" for Favorable or "U" for Unfavorable. Materials Variances Actual cost: S 42,840 $ 18,900x Standard cost: 5460 X Materials price 5460X

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

Managerial Accounting

Authors: Libbey Phillips Whitecotton

2nd Edition

1259240908, 978-1259240904

More Books

Students also viewed these Accounting questions