Question
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
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 | |||
---|---|---|---|
Direct materials (5.60 kg at $3.20 per kilogram) | $17.92 | ||
Direct labour (0.50 hours at $4.50) | 2.25 | ||
Variable overhead (0.50 hours at $3.20 per hour) | 1.60 | ||
Fixed overhead (0.50 hours at $6.00 per hour) | 3.00 | ||
$24.77 |
The following is a production report for the most recent period of operations:
Variances | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Costs | Total Standard Cost | Price/ Rate | Spending/ Budget | Quantity/ Efficiency | Volume | |||||||||
Direct materials | $333,312 | $5,356 | F | $9,472 | U | |||||||||
Direct labour | 41,850 | 2,650 | U | 5,850 | U | |||||||||
Variable overhead | 29,760 | $1,290 | F | ? | ||||||||||
Fixed overhead | 55,800 | 400 | F | $12,000 | U |
How many units were produced during the period?
Number of units produced | enter the number of units produced |
How many kilograms of raw material were purchased and used during the period?
Raw materials purchased | enter the raw materials purchased in kilograms | kilograms |
What was the actual cost per kilogram of raw materials? (Round answer to 2 decimal places, e.g. 15.25.)
Actual cost per kilogram | $enter the actual cost per kilogram in dollars rounded to 2 decimal places /kg |
How many actual direct labour hours were worked during the period?
Actual direct labour hours | enter the actual direct labour hours | hours |
What was the actual rate paid per direct labour hour? (Round answer to 2 decimal places, e.g. 15.25.)
Actual rate | $enter the actual rate per hour in dollars rounded to 2 decimal places /hr |
What was the actual variable overhead cost incurred during the period?
Actual variable overhead | $enter the actual variable overhead in dollars |
What is the total fixed overhead cost in the companys master budget?
Budgeted fixed cost | $enter the budgeted fixed cost in dollars |
What were the master budget hours for fixed overhead?
Master budget hours | enter a number of master budget hours | hours |
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