Trini Company set the following standard costs per unit for its single product Direct materials (30...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Trini Company set the following standard costs per unit for its single product Direct materials (30 pounds @ $5.10 per pound) Direct labor (8 hours @ $14 per hour) Variable overhead (8 hours@ $6 per hour) Fixed overhead (8 hours @ $12 per hour). Standard cost per unit Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level of 80% of the company's capacity of 66.000 units per quarter. The following additional information is available. Operating Levels Production (in units) Standard direct labor hours (8 DLH/unit) Budgeted overhead (flexible budget) Fixed overhead Variable overhead $153.00 112.00 48.00 96.00 $ 409.00 Direct materials (1,782,000 pounds @ $5.10 per pound) Direct labor (475,200 hours $14 per hour) Overhead (475,200 hours @ $18 per hour) Standard (budgeted) copt 70% 46,200 369,600 BOX 52,000 422,400 $5.068,000 $5,068,800 $2,217,600 $2,534,400 90% 59,400 475,200 During the current quarter, the company operated at 90% of capacity and produced 59.400 units; actual direct labor totaled 369,400 hours. Units produced were assigned the following standard costs. $9.008, 200 6.652,800 8.555.600 $ 24,294,600 $5,000,000 $ 2,851.200 Variable overhead $ 2,217,600 $ 2,534,400 $ 2,851,200 During the current quarter, the company operated at 90% of capacity and produced 59,400 units; actual direct labor totaled 369,400 hours. Units produced were assigned the following standard costs. Direct materials (1,782,000 pounds @ $5.10 per pound) Direct labor (475,200 hours @ $14 per hour) Overhead (475,200 hours @ $18 per hour) Standard (budgeted) cost Actual costs incurred during the current quarter follow. Direct materials (1,387,000 pounds @ $6.70 per pound) Direct labor (369,400 hours @ $11.60 per hour) Fixed overhead Variable overhead Actual cost Complete this question by entering your answers in the tabs below. equired: Compute the direct materials variance, including its price and quantity variances. Compute the direct labor variance, including its rate and efficiency variances. Compute the overhead controllable and volume variances. Reg 1 Reg 2 Req 3 Controllable Variance $9,088,200 6,652,800 8,553,600 $ 24,294,600 Reg 3 Volume Variance $ 9,292,900 4,285,040 3,196,500 3,466,700 $ 20,241,140 points) mnie the quares Required information Complete this question by entering your answers in the tabs below. ma vanancer Reg 2 Saved Req 3 Volume Varlance Prev Req 1 Rea 3 Controllable Variance Compute the direct materials variance, including its price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no vartan Actual Cost Standard Col Score.answer > Help Heq 2 > Save & Exit Submit Check my work AMBITS The nuamaan entrana ann Alimo variancar Required information Complete this question by entering your answers in the tabs below. Req 1 Req 3 Controllable Variance Req 3 Volume Variance Compute the direct labor variance, Including its rate and efficiency variances. (Indicate the effect of each varlance by selecting favorable, unfavorable, or ne variances Reg 2 Actual Cost < Reg f HUSK HIS Req 3 Controllable Variance > Standard Cost 3. Compute the overhead controllable and volume variances. Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 Controllable Variance Compute the overhead controllable variance. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Controllable Variance Actual total overhead Budgeted total overhead Controllable variance Req 3 Volume Variance < Req 2 Req 3 Volume Variance > BOOK Prim mrences Required information 3. Compute the overhead controllable and volume variances. Complete this question by entering your answers in the tabs below. Req 3 Controllable Variance Req 1 Req 2 Compute the overhead volume variances. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Volume variance Req 3 Volume Varience Budgeted total overhead Standard overhead applied Volume variance < Req 3 Controllable Variance Trini Company set the following standard costs per unit for its single product Direct materials (30 pounds @ $5.10 per pound) Direct labor (8 hours @ $14 per hour) Variable overhead (8 hours@ $6 per hour) Fixed overhead (8 hours @ $12 per hour). Standard cost per unit Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level of 80% of the company's capacity of 66.000 units per quarter. The following additional information is available. Operating Levels Production (in units) Standard direct labor hours (8 DLH/unit) Budgeted overhead (flexible budget) Fixed overhead Variable overhead $153.00 112.00 48.00 96.00 $ 409.00 Direct materials (1,782,000 pounds @ $5.10 per pound) Direct labor (475,200 hours $14 per hour) Overhead (475,200 hours @ $18 per hour) Standard (budgeted) copt 70% 46,200 369,600 BOX 52,000 422,400 $5.068,000 $5,068,800 $2,217,600 $2,534,400 90% 59,400 475,200 During the current quarter, the company operated at 90% of capacity and produced 59.400 units; actual direct labor totaled 369,400 hours. Units produced were assigned the following standard costs. $9.008, 200 6.652,800 8.555.600 $ 24,294,600 $5,000,000 $ 2,851.200 Variable overhead $ 2,217,600 $ 2,534,400 $ 2,851,200 During the current quarter, the company operated at 90% of capacity and produced 59,400 units; actual direct labor totaled 369,400 hours. Units produced were assigned the following standard costs. Direct materials (1,782,000 pounds @ $5.10 per pound) Direct labor (475,200 hours @ $14 per hour) Overhead (475,200 hours @ $18 per hour) Standard (budgeted) cost Actual costs incurred during the current quarter follow. Direct materials (1,387,000 pounds @ $6.70 per pound) Direct labor (369,400 hours @ $11.60 per hour) Fixed overhead Variable overhead Actual cost Complete this question by entering your answers in the tabs below. equired: Compute the direct materials variance, including its price and quantity variances. Compute the direct labor variance, including its rate and efficiency variances. Compute the overhead controllable and volume variances. Reg 1 Reg 2 Req 3 Controllable Variance $9,088,200 6,652,800 8,553,600 $ 24,294,600 Reg 3 Volume Variance $ 9,292,900 4,285,040 3,196,500 3,466,700 $ 20,241,140 points) mnie the quares Required information Complete this question by entering your answers in the tabs below. ma vanancer Reg 2 Saved Req 3 Volume Varlance Prev Req 1 Rea 3 Controllable Variance Compute the direct materials variance, including its price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no vartan Actual Cost Standard Col Score.answer > Help Heq 2 > Save & Exit Submit Check my work AMBITS The nuamaan entrana ann Alimo variancar Required information Complete this question by entering your answers in the tabs below. Req 1 Req 3 Controllable Variance Req 3 Volume Variance Compute the direct labor variance, Including its rate and efficiency variances. (Indicate the effect of each varlance by selecting favorable, unfavorable, or ne variances Reg 2 Actual Cost < Reg f HUSK HIS Req 3 Controllable Variance > Standard Cost 3. Compute the overhead controllable and volume variances. Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 Controllable Variance Compute the overhead controllable variance. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Controllable Variance Actual total overhead Budgeted total overhead Controllable variance Req 3 Volume Variance < Req 2 Req 3 Volume Variance > BOOK Prim mrences Required information 3. Compute the overhead controllable and volume variances. Complete this question by entering your answers in the tabs below. Req 3 Controllable Variance Req 1 Req 2 Compute the overhead volume variances. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Volume variance Req 3 Volume Varience Budgeted total overhead Standard overhead applied Volume variance < Req 3 Controllable Variance
Expert Answer:
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
Posted Date:
Students also viewed these accounting questions
-
Today, you sold 300 shares of Royal Bank of Canada (RY) stock. Your total return on these shares is 50.48%. You purchased the shares one year ago at a price of $80.72 per share. You received a total...
-
Alternative Bid Accepted Bid Rejected Buy 1 machine $ 10 $5 Buy 2 machines $30 $4 Buy 3 machines $40 $2 Refer to the information above. Assume that based on historical bids with the defense...
-
Kryll Company set the following standard costs per unit for its single product. Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level of 80%...
-
Obtain the transfer functions X(s)/F(s) and Y(s)/F(s) for the following model: 3x = y y = f(t) -3y- 15x
-
If a fair coin is tossed 100 times, what is the probability that 50 heads will occur? In the following problems use a normal approximation to the binomial.
-
On May 1, 2014, Lowell Company began the manufacture of a new paging machine known as Dandy. The company installed a standard costing system to account for manufacturing costs. The standard costs for...
-
What factors should be considered by the auditor in analyzing occurrences found in the sample?
-
1. MiniCase 20 details three ethics scandals at UBS in recent years. What does that tell you about UBS? 2. Given the UBS ethics failings, who is to blame? The CEO? The board of directors? 3. What...
-
Make and prepare adjusting entries for Martin Ltd as at 30 June for the following situations: (a) The Supplies account shows a balance of $1000, but a physical count shows only $400 if supplies. (b)...
-
John Parsons (123-45-6781) and George Smith (123-45-6782) are 70% and 30% owners, respectively, of Premium, Inc. (11-1111111), a candy company located at 1005 16th Street, Cut and Shoot, TX 77303....
-
Draw the substitution products for the following reactions. (Do not draw the accompnaying elimination products). Include stereochemistry in your answer, and if two substitution products are formed...
-
Draw an AST diagram for the expression (+ ( 6 3) (* 4 1) (/(+ 7 2 1) 5)). See figure 3.8 for an example. Make sure that you understand why certain nodes are leaf nodes in this tree. What is the...
-
Refer to the data set pit.csv. a. Consider pits at 4 weeks duration. Perform a randomization test to determine whether the mean depth at \(40 \%\) relative humidity differs from that at \(70 \%\)...
-
The owners of a motel discovered that a defective product was used during construction. It took 7 months to correct the defects during which approximately 14 rooms in the 100 -unit motel were taken...
-
Sketch some electric field lines and equipotential lines associated with two identical charged particles spaced horizontally.
-
What are the various types of chain drive? Explain with neat sketches.
-
4 If 4x x) = 4 = 2 x 3dz f(x) and f(0) = 15 ln 3, what is the value of f(2)?
-
Describe basic managerial approaches to implementing controls and how these are implemented.
-
Custom Woods manufactures jewelry boxes. The primary materials (wood, brass, and glass) and direct labor are assigned directly to the products. Manufacturing overhead costs are allocated based on...
-
The unadjusted trial balance for First Class Maids Company, a cleaning service, is as follows: During the 12 months ended December 31, 2016, First Class Maids: a. Used office supplies of $1,900. b....
-
The Accounts Receivable balance for Field, Inc. at December 31, 2015, was $25,000. During 2016, Field earned revenue of $457,000 on account and collected $326,000 on account. Field wrote off $5,900...
-
Show that for a system with both viscous and Coulomb damping the approximate value of the steady-state amplitude is given by \[X^{2}\left[k^{2}\left(1-r^{2} ight)^{2}+c^{2} \omega^{2} ight]+X \frac{8...
-
The equation of motion of a spring-mass-damper system is given by \[m \ddot{x} \pm \mu N+c \dot{x}^{3}+k x=F_{0} \cos \omega t\] Derive expressions for (a) the equivalent viscous-damping constant,...
-
A fluid, with density \(ho\), flows through a cantilevered steel pipe of length \(l\) and cross-sectional area \(A\) (Fig. 3.68). Determine the velocity ( \(v\) ) of the fluid at which instability...
Study smarter with the SolutionInn App