Question
Use the following data to calculate the variances in problems 15. Standard Cost Profile Lab Treatment SU #12 Expected Treatments = 1,000 Quantity Quantity Unit
Use the following data to calculate the variances in problems 15.
Standard Cost Profile Lab Treatment SU #12 Expected Treatments = 1,000 Quantity Quantity Unit Variable Average Average Resource Variable Fixed Cost Cost Fixed Cost Total Cost Labor 0.80 0.80 $ 16.00 $ 12.80 $ 12.80 $ 25.60 Supplies 7.00 0 1.10 7.70 0 7.70 $ 20.50 $ 12.80 33.30 Actual Month Cost Lab Treatment SU #12 Actual Treatments = 1,100 Quantity Unit Total Resource Used Cost Cost Labor 1,600 $ 17.00 $ 27,200 Supplies 7,500 1.00 7,500 $ 34,700 Calculate the following variances: 1. Efficiency Variance Labor 2. Efficiency Variance Supplies 3. Price Variance Labor 4. Price Variance Supplies 5. Volume Variance
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