Reference no: EM131793757
Question - Gulf Coast Resins Company processes a base chemical into plastic. Standard costs and actual cost for direct materials, direct labor, and factory overhead incurred for the manufacture of 2,600 units of product were as follows:
Standard Actual
Direct materials 6,850 lbs at$ 6.40 7,000 lbs at $ 6.35
Direct labor 2,050 hrs at $19.80 2,100 hrs at $20.20
Factory overhead rates per direct labor hours based on 100% of normal capacity of 1,950 direct labor hours:
variable cost $2.50 $ 4,970 variable cost
fixed cost $4.50 $ 8,775 fixed cost
Each unit requites 0.6 hour of direct labor
Determine
A. The price variance, quantity variance, and total direct materials cost variance.
B. The rate variance, time variance, and total direct labor cost variance.
C. Variable factory overhead controllable variance, the fixed factory overhead volume variance, and total factory overhead cost variance.
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: Gulf Coast Resins Company processes a base chemical into plastic. Determine The rate variance, time variance, and total direct labor cost variance
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