Question
You have been given the following information about the production of Windsor Co., and are asked to provide the factory manager with information for a
You have been given the following information about the production of Windsor 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 (6.00 kg at $3.40 per kilogram) | $20.40 | ||
Direct labour (0.80 hours at $4.10) | 3.28 | ||
Variable overhead (0.80 hours at $3.40 per hour) | 2.72 | ||
Fixed overhead (0.80 hours at $7.00 per hour) | 5.60 | ||
$32.00 |
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 | $440,640 | $6,629 | F | $10,132 | U | |||||||||
Direct labour | 70,848 | 4,665 | U | 5,658 | U | |||||||||
Variable overhead | 58,752 | $1,040 | F | ? | ||||||||||
Fixed overhead | 120,960 | 430 | F | $13,650 | 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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