Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Use the following information for the next 4 questions Computer Furniture, Inc. uses variance analysis to evaluate its performance. They use direct labor hours as
Use the following information for the next 4 questions Computer Furniture, Inc. uses variance analysis to evaluate its performance. They use direct labor hours as the variable overhead allocation base and number of parts as the fixed overhead allocation base. The information for May is as follows: Budgeted output units 14,000 tables Budgeted sales price $100 Budgeted fixed manufacturing overhead $22,400 Budgeted variable manufacturing overhead $3.00 per DLH Budgeted direct manufacturing labor hours 0.2 hour per table Budgeted cost per labor hour $11 Budgeted 5 parts per table @ $10 per part Fixed manufacturing costs incurred $23,000 Direct manufacturing labor hours used 4,000 Variable manufacturing costs incurred $11,000 Actual units manufactured and sold 15,000 Actual cost per labor hour $10.50 Actual sales price $97 Direct Material parts used 76,000 Actual average cost per part $9.50 What is the Direct Materials Quantity Variance? (use a negative number for unfavorable variance, positive number for favorable variance) Question 11 1 pts Using the information above, what is the Direct Labor Quantity Variance? (use a negative number for unfavorable variance, positive number for favorable variance) Question 12 1 pts Using the information above, what is the Direct Labor Price Variance? (use a negative number for unfavorable variance, positive number for favorable variance) Question 13 1 pts Using the information above, what is the Variable Manufacturig Overhead Rate Variance? (use a negative number for unfavorable variance, positive number for favorable variance)
Step 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