Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

two part question Required information [The following information applies to the questions displayed below] Preble Company manufactures one product. Its variable manufacturing overhead is applied

two part question image text in transcribed
image text in transcribed
Required information [The following information applies to the questions displayed below] Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: The planning budget for March was based on producing and selling 24,000 units. However, during March the company actually produced and sold 30,600 units and incurred the following costs: a. Purchased 170,000 pounds of raw materials at a cost of $9.00 per pound. All of this material was used in production. b. Direct laborers worked 68,000 hours at a rate of $18 per hour. c. Total variable manufacturing overhead for the month was $512,040. 5. If Preble had purchased 183,000 pounds of materials at $9.00 per pound and used 170,000 pounds in production, wha: would be the materials price variance for March? (Indicate the effect of each variance by selecting "F" for favorable, " U " for unfavorable, and "None" for no effect (i.e., zero variance.). Input all amounts as positive values.) Required information [The following information applies to the questions displayed below.] Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: The planning budget for March was based on producing and selling 24,000 units. However, during March the company actually produced and sold 30,600 units and incurred the following costs: a. Purchased 170,000 pounds of raw materials at a cost of $9.00 per pound. All of this material was used in production. b. Direct laborers worked 68,000 hours at a rate of $18 per hour. c. Total variable manufacturing overhead for the month was $512,040. 6. If Preble had purchased 183,000 pounds of materials at $9.00 per pound and used 170,000 pounds in production, what would be the materials quantity variance for March? (Indicate the effect of each variance by selecting "F" for favorable, " U " for unfavorable, and "None" for no effect (i.e., zero variance.). Input all amounts as positive values.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions