This is ACCT 203 final homework.

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ACCOUNTING 203 NAMES: Exam #4 (Chs. 10,12) Case/Problem 60 pts. Due Date: Thursday, March 16 PROBLEM #1 (20 PTS.) Blomdahl Corporation makes a product with the following standard costs: Stand Quantity or Standard Price Inputs.................. Hours or Rate Direct materials........ 5.2kilos Direct labor.......... 0.3 hours Variable overhead...... 0.3 hours $6.00 per kilo $22.00 per hour $2.00 per hour The company reported the following results concerning this product in October. Actual output............. 8100 units Raw materials used in production.... 43130 kilos Actual direct laborhours...... 2570 hours Purchases of raw materials...... 46700 kilos Actual price of raw materials..... $5.70 per kilo Actual direct labor rate....... $23.70 per hour Actual variable overhead rate.... $1.80 per hour The materials price variance is recognized when materials are purchased. Variable overhead is applied on the basis of direct laborhours. Required: a. Compute the materials quantity variance. (2.5 pts.) b. Compute the materials price variance. (2.5 pts.) c. Compute the labor efficiency variance. (2.5 pts.) d. Compute the direct labor rate variance. (2.5 pts.) e. Compute the variable overhead efficiency variance. (2.5 pts.) f. Compute the variable overhead rate variance. (2.5 pts.) g. Which variances would you recommend that management investigate? Explain? (5 pts.) PROBLEM #2 (20 PTS.) A customer has asked Twiner Corporation to supply 5,000 units of product D05, with some modifications, for $40.20 each. The normal selling price of this product is $52.80 each. The normal unit product cost of product D05 is computed as follows: Direct materials...... $12.70 Direct labor.......... $6.10 Variable manufacturing overhead..... $8.70 Fixed manufacturing overhead...... $7.70 Unit product cost................ $35.20 Direct labor is a variable cost. The special order would have no effect on the company's total fixed manufacturing overhead costs. The customer would like some modifications made to product D05 that would increase the variable costs by $3.50 per unit and that would require a onetime investment of $23,000 in special molds that would have no salvage value. This special order would have no effect on the company's other sales. The company has ample spare capacity for producing the special order .Required: Determine the effect on the company's total net operating income of accepting the special order. Show your work! PARTICIPATION POINTS (20 PTS.): Please award 1 - 20 points to each team member based on their level of participation. NAME: POINTS