The standard cost sheet for Chambers Company, which manufactures one product, follows: Direct materials, 40 yards at
Question:
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The standard cost sheet for Chambers Company, which manufactures one product, follows:
Direct materials, 40 yards at $3.00 per yard$120Direct labor, 4 hours at $25 per hour100Factory overhead applied at 85% of direct labor85(variable costs = $60; fixed costs = $25)Variable selling and administrative72Fixed selling and administrative48Total unit costs$425
Standards have been computed based on a master budget activity level of 29,600 direct labor-hours per month. Actual activity for the past month was as follows:
Materials used236,000yards at $3.10 per yardDirect labor24,100hours at $26.00 per hourTotal factory overhead$600,000Production5,800units
Required:
Prepare variance analyses for the variable and fixed costs. Materials are purchased as they are used.
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