Answered step by step
Verified Expert Solution
Question
1 Approved Answer
TWO PARTS. PLEASE ANSWER THEM ON A TABLE A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard
TWO PARTS. PLEASE ANSWER THEM ON A TABLE
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Quantity and cost 6 pounds @ $8 per pound 3 DLH @ $17 per DLH 3 DLH @ $12 per DLH Actual Results 48,500 pounds @ $8.10 per pound 23,800 hours @ $17.60 per hour $ 293,700 8,000 units Compute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.) AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Actual Cost Standard Cost $ o $ 0 $ 0 0 Compute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.) AQ - Actual Quantity SQ - Standard Quantity AP - Actual Price SP = Standard Price Standard Cost Direct labor efficiency variance Direct labor rate variance Direct materials price variance Direct materials quantity variance Total direct materials variance $ 0 Direct materials quantity variance Standard Cost Total direct materials variance Total variable overhead cost variance Variable overhead efficiency variance Variable overhead spending variance $ 0 0 Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Actual Cost Standard Cost AH SR SH SR $ 0 This is a numeric cell, so please enter numbers only. $ 0 0Step 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