Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

X Question Help Requirements O * Data Table et materials and direct manufacturing labor, d. 1. For the month of April, compute the following variances,

image text in transcribed

X Question Help Requirements O * Data Table et materials and direct manufacturing labor, d. 1. For the month of April, compute the following variances, indicating whether each is favorable (F) or unfavorable (U). a. Direct materials price variance (based on purchases) b. Direct materials efficiency variance c. Direct manufacturing labor price variance d. Direct manufacturing labor efficiency variance e. Variable manufacturing overhead spending variance f. Variable manufacturing overhead efficiency variance g. Production-volume variance h. Fixed manufacturing overhead spending variance 2. Can Douglas use any of the variances to help explain any of the other variances? Give examples. At the beginning of 2017, DDC budgeted annual production of 410,000 doorknobs and adopted the following standards for each doorknob: Input Cost Doorknob Direct materials (brass) 0.3 ib. @ $8/1b. S 2.40 Direct manufacturing labor 1.2 hours @ $20/hour 24.00 Variable manufacturing overhead $7/b x 0.3 lb. 2.10 4.20 Fixed manufacturing overhead $14/1b. x 0.3 lb $ 32.70 Standard cost per doorknob Print Done Print Done Actual results for April 2017 were as follows: Production 33,000 doorknobs Direct materials purchased 13,000 lb. at $11/b. Direct materials used 9,000 lbs. Direct manufacturing labor 29,100 hours for $698,400 Variable manufacturing overhead $65,000 Fixed manufacturing overhead $154,000 Enter any number in the edit fields and then click Check Answer. . 14 parts Chock Answer Check Answer remaining O 01 ? 4:11 PM 3/23/2021

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

Contemporary Auditing University Of Southern Indiano

Authors: Michael C. Knapp

7th Edition

0324658052, 978-0324658057

More Books

Students also viewed these Accounting questions