Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

U A A A V te Page Break Question 1: CNC Company's Budget and actual costs per unit are provided below for the most recent

image text in transcribed
image text in transcribed
U A A A V te Page Break Question 1: CNC Company's Budget and actual costs per unit are provided below for the most recent period. During this period, 600 units were actually produced. Product Standard Cost Product Actual Cost $10.00 $11.44 Metres 5 5.2 Hours 3 3.2 Materials Standard Actual Direct labour Standard Actual Variable overhead Standard Actual Total unit cost Unit Price Per Metre $2.00 $2.20 Hourly Rate $5.00 $5.50 $15.00 $17.60 Hours Hourly Rate $12.00 4. 4.2 $3.00 $3.10 $13.02 $42.06 $37.00 References Review View Help Table Open in Desktop App Tell me 12 ' ' . Eve Total unit cost $37.00 $42.06 Required: Given the information above, compute the following variances. Also indicate if the variances are favorable or unfavorable. 1. Materials price variance 2. Materials quantity variance 3. Direct labour rate variance 4. Direct labour efficiency variance 5. Variable overhead rate variance 6. Variable overhead efficiency variance 7. Please give some managerial suggestions based on your calculation

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

The Iso 9000 Auditors Companion

Authors: Kent A. Keeney

1st Edition

0873893247, 978-0873893244

More Books

Students also viewed these Accounting questions

Question

Do you think physicians should have unions? Why or why not?

Answered: 1 week ago