Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Tidd Corporation makes a product with the following standard costs: Inputs Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials
Tidd Corporation makes a product with the following standard costs: |
Inputs | Standard Quantity or Hours | Standard Price or Rate | Standard Cost Per Unit |
Direct materials | 4.9 grams | $3.00 per gram | $14.70 |
Direct labor | 0.6 hours | $16.00 per hour | $9.60 |
Variable overhead | 0.6 hours | $3.00 per hour | $1.80 |
The company reported the following results concerning this product in November. |
Originally budgeted output | 8,500 | units |
Actual output | 8,600 | units |
Raw materials used in production | 44,690 | grams |
Purchases of raw materials | 47,180 | grams |
Actual direct labor-hours | 7,750 | hours |
Actual cost of raw materials purchases | $132,320 | |
Actual direct labor cost | $125,013 | |
Actual variable overhead cost | $21,786 |
The company applies variable overhead on the basis of direct labor-hours. The direct materials price variance is computed when the materials are purchased. |
The variable overhead efficiency variance for November is what? Without solutions, No rating. |
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