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Calculate the direct materials efficiency variance

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Reference no: EM131783442

Assigbnment

 

 

Sixteen Company prepared the standard cost sheet.

 

 

Direct materials: 25 yards at $6.00 per yard

$120

Direct labor: 28 hours at $5.00 per hour

125

Variable overhead: $3.00 per direct labor hour

75

Total variable costs per unit

$320

Fixed overhead: Applied at $1.00 per direct labor hour

$14,400

 

During November, Sixteen Company produced and sold 420 units.  Actual results were as follows.

 

 

Direct materials purchased and used

9,500 yards at $6.15 per yard

Direct labor

12,600 hours at $5.10 per hour

Variable overhead

$45,000

Fixed overhead

$14,200

 

 

Required

Question 1

Calculate the direct materials price variance and label it as either "favorable" or "unfavorable."

 

Question 2

Calculate the direct materials efficiency variance and label it as either "favorable" or "unfavorable."

Question 3

Calculate the direct labor price variance and label it as either "favorable" or "unfavorable."

Question 4

Calculate the direct labor efficiency variance and label it as either "favorable" or "unfavorable."

Question 5

Calculate the variable overhead price variance and label it as either "favorable" or "unfavorable."

Question 6

Calculate the variable overhead efficiency variance and label it as either "favorable" or "unfavorable."

Question 7

Calculate the fixed overhead price variance and label it as either "favorable" or "unfavorable."

Question 8

Calculate the fixed overhead volume variance and label it as either "favorable" or "unfavorable."

Reference no: EM131783442

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