Reference no: EM133168381

Question - The following data is for the first week of operations in March 2021:

Production:

Actual Produced = 478 cabinets

Budget Produced = 500 cabinets

Materials:

Actual Purchased = 21,500 screws @ $0.03 per screw

Actual usage = 19,350 screws

Standard usage = 20,020 screws @ $0.04 per screws

Actual Purchased wood = 20,000 m3 @ $25.00 per

Actual usage wood = 19,000 m3

Standard usage wood = 17,500 m3 @$22.50

Direct Labor:

Actual hours = 310 hours @ $12.10 per hour

Standard hours = 340 hours @ $12.00 per hour

Required -

Part 1 -

1. Calculate the actual total cost for the week.

2. Calculate the actual total cost per cabinet.

3. Calculate the actual material cost per cabinet.

4. Calculate the actual labour cost per cabinet.

5. Calculate the total budgeted costs for the week.

6. Calculate the budgeted total cost per cabinet.

7. Calculate the budgeted material cost per cabinet.

8. Calculate the budgeted labour cost per cabinet.

Part 2 -

1. Is the actual cost per cabinet favourable or unfavourable when compared to the budget?

2. Which input has the greatest variance?