Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What is the budgeted fixed overhead application rate for June? What is the direct materials quantity variance for June? What is the direct materials price

What is the budgeted fixed overhead application rate for June?
What is the direct materials quantity variance for June?
What is the direct materials price variance for June?
What is the direct labor rate variance for June?
What is the direct labor efficiency variance for June?
Normal production:
Materials: 120 lbs. @ $1.50 per lbs.
Labor: 3 hrs. $$15.00per hr.
Labor: $6.00 per direct labor hour
Labor: $54,000 total for month
Production: 1,800units per month
Actual production data per unit for June was:
Direct Materials: 116lbs @$1.65 per lb.
Direct Labor: 3.1 hrs @$15.00 per hr.
Direct Materials: $25,860 total for month
Direct Labor: $54,000 total for month
Actual production: 1,650 units

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

Financial Accounting Information For Decisions

Authors: Robert W. Ingram, Bruce Baldwin

4th Edition

0324069545, 978-0324069549

More Books

Students also viewed these Accounting questions