Reference no: EM133173533
Question - Aday's Pie Factory has set standard for production of 130,000 pies as follows:
Standard Quantity 36,000 lbs
Standard Price (ingredients) $1.40 per lb
Standard Labor Hours 15,000
Standard Labor Rate $4.45
Standard Overhead Rate $2.50 per hour
During the last period, Aday's produced 96,000 pies and the following usage information.
Actual Quantity Used 36,000 lbs
Actual Cost (ingredients) $57,600
Actual Labor Hours 14,000 hours
Actual Payroll $79,800
Actual Overhead Costs $30,000
Use the information above, to calculate the following:
1. What is the Labor Efficiency Variance?
a. 13,104
b. 7,200
c. 17,500
d. 12,905
2. What is the Overhead Spending Variance?
a. 13,104
b. 7,200
c. 17,500
d. (5,000.00)
3. What is the Overhead Efficiency Variance?
a. 13,104
b. (5,000.00)
c. 17,500
d. 7,250
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