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Compute the total materials variance and the price

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Reference no: EM131795184

Question 1 - Hannon Company expects to produce 1,200,000 units of Product XX in 2010. Monthly production is expected to range from 80,000 to 120,000 units. Budgeted variable manufacturing costs per unit are: direct materials $4, direct labor $6, and overhead $8. Budgeted fixed manufacturing costs per unit for depreciation are $2 and for supervision are $1. Prepare a flexible manufacturing budget for the relevant range value using 20,000 unit increments.

Question 2 - The standard cost of Product B manufactured by Mateo Company includes three units of direct materials at $5.00 per unit. During June, 28,000 units of direct materials are purchased at a cost of $4.70 per unit, and 28,000 units of direct materials are used to produce 9,000 units of Product B.

Instructions -

(a) Compute the total materials variance and the price and quantity variances.

(b) Repeat (a), assuming the purchase price is $5.20 and the quantity purchased and used is 26,200 units.

Reference no: EM131795184

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