Question a firm has established standards as givendirect

Assignment Help Cost Accounting

Reference no: EM13350074

Question :

A firm has established standards as given:

Direct material 3 pounds @ $4/pound = $12 per unit

Direct labor 2 hours @ $8/hour = $16 per unit

Variable overhead 2 hours @ $5/hour = $10 per unit

Actual production figures for the past year were as given:

Units produced 500

Direct materials used 1600 pounds

Direct material purchased (1,600 pounds) $6,560

Direct labor cost (950 hours) $7790

Variable overhead cost incurred $4655

Required:

Determine the materials price variance (amount and favorable or unfavorable)?

Evaluate materials quantity variance (amount and favorable or unfavorable)?

Determine the labor rate variance (amount and favorable or unfavorable)?

Evaluate the labor efficiency variance (amount and favorable or unfavorable)?

Reference no: EM13350074

Questions Cloud

Questiona hare and a tortoise battle in a race over a : questiona hare and a tortoise battle in a race over a straight course 1.05 km long. the tortoise crawls at the speed of

Question 1crew an s corporation has gross receipts of : question 1crew an s corporation has gross receipts of 190000 and gross income of 170000. crew has aep of 22000 and

Questionwhile the movie back to the future ii came out : questionwhile the movie back to the future ii came out everyone wanted a hover-board. you decide to use your

Question consider the given scenariodr stephanie white the : question consider the given scenariodr. stephanie white the chief administrator of uptown clinic a community mental

Question a firm has established standards as givendirect : question a firm has established standards as givendirect material 3 pounds 4pound 12 per unitdirect labor 2 hours

Questiona particle of mass m in energy state n is confined : questiona particle of mass m in energy state n is confined in an infinite square well potential of width a. a

Question 1 a review of the accounting records of rayford : question 1 a review of the accounting records of rayford manufacturing showing that the company incurred the subsequent

Question pemberton company acquired all of the liabilities : question pemberton company acquired all of the liabilities and assets of the samuelson corporation for cash on 1st

Questionexactly 30s after a projectile is fired into the : questionexactly 3.0s after a projectile is fired into the air from a flat ground it is observed to have velocity v

User Account

All Pages