Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You have been given the following information about the production of Blue Spruce Co., and are asked to provide the factory manager with information for

image text in transcribed
image text in transcribed
image text in transcribed
You have been given the following information about the production of Blue Spruce Co., and are asked to provide the factory manager with information for a meeting with the vice-president of operations: Standard Cost Card $17.92 2.25 Direct materials (5.60 kg at $3.20 per kilogram) Direct labour (0.50 hours at $4.50) Variable overhead (0.50 hours at $3.20 per hour) Fixed overhead (0.50 hours at $6.00 per hour) 1.60 3.00 $24.77 The following is a production report for the most recent period of operations Costs Total Standard Cost Varlances Spending/ Quantity/ Budget Efficiency $9,4720 Price/ Rate Volume $333,312 $5,356 F 41,850 2,650 U 5,850 U Direct materials Direct labour Variable overhead Fixed overhead 29,760 $1.290 F 2 55,800 400 F $12,000 U How many units were produced during the period? Number of units produced How many kilograms of raw material were purchased and used during the period? Raw materials purchased kilograms What was the actual cost per kilogram of raw materials? (Round answer to 2 decimal places, eg. 15.25.) Actual cost per kilogram /kg How many actual direct labour hours were worked during the period? Actual direct labour hours hours What was the actual rate paid per direct labour hour? (Round answer to 2 decimal places, eg. 15.25.) Actual rate /hr What was the actual variable overhead cost incurred during the period? Actual variable overhead $ What was the actual rate paid per direct labour hour? (Round answer to 2 decimal places, e.g. 15.25.) Actual rate $ /hr What was the actual variable overhead cost incurred during the period? Actual variable overhead What is the total fixed overhead cost in the company's master budget? Budgeted fixed cost $ What were the master budget hours for fixed overhead? Master budget hours hours

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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 Reporting and Analysis

Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon

6th edition

9780077632182, 78025672, 77632184, 978-0078025679

Students also viewed these Accounting questions