! Required information [The following information applies to the questions displayed below.] Preble Company manufactures one...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
! Required information [The following information applies to the questions displayed below.] Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct materials: 4 pounds at $10 per pound Direct labor: 2 hours at $16 per hour Variable overhead: 2 hours at $6 per hour Total standard cost per unit $ 40 32 12 $ 84 The planning budget for March was based on producing and selling 30,000 units. However, during March the company actually produced and sold 34,500 units and incurred the following costs: a. Purchased 150,000 pounds of raw materials at a cost of $9.20 per pound. All of this material was used in production. b. Direct laborers worked 62,000 hours at a rate of $17 per hour. c. Total variable manufacturing overhead for the month was $390,600. 11. What is the labor spending variance for March? Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input all amounts as positive values. Labor spending variance _ ! Required information [The following information applies to the questions displayed below.] Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct materials: 4 pounds at $10 per pound Direct labor: 2 hours at $16 per hour Variable overhead: 2 hours at $6 per hour Total standard cost per unit $ 40 32 12 $ 84 The planning budget for March was based on producing and selling 30,000 units. However, during March the company actually produced and sold 34,500 units and incurred the following costs: a. Purchased 150,000 pounds of raw materials at a cost of $9.20 per pound. All of this material was used in production. b. Direct laborers worked 62,000 hours at a rate of $17 per hour. c. Total variable manufacturing overhead for the month was $390,600. 11. What is the labor spending variance for March? Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input all amounts as positive values. Labor spending variance _
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
1. The operations manager for a well-drilling company must recommend whether to build a new facility, expand his existing one, or do nothing. He estimates that long-run profits (in $000) will vary...
-
Assume that Apple has received a special order from a retailer for 1,000 specially outfitted iMacs. This is a one-time order, which will not require any additional capacity or fixed costs. What...
-
A lot of 50 electrical components numbered 1-50 is drawn at random, one by one, and is divided among five customers. (a) Suppose that it is known that components 3, 18, 12, 26, and 46 are defective....
-
An important omission from flowcharts and matrix techniques is ( ___________________ ). (a) the ability to represent decisions (b) the ability to include internal control considerations (c) the...
-
You have been assigned the task of measuring the equilibrium constant for the reaction N 2 O 4 2NO 2 as a function of temperature. To do so, you obtain a rigid 2-liter vessel equipped with a pressure...
-
Imagine your HR department is conducting a training on strategic human resource development, and you are required to analyze and present your conclusions on a case study with the other HR associates...
-
SAGE was a successful singing group that contracted to perform at the Indie Festival rock concert. SAGE was aware that the promoter would sustain a substantial loss if the group failed to perform....
-
After all revenue and expense accounts have been closed at the end of the fiscal year, Income Summary has a debit of $796,400 and a credit of $939,300. At the same date, Retained Earnings has a...
-
Following vigorous exercise, the internal body temperature of a 72.5 -kg person is 40.0C. At what rate, in watts, must the person transfer thermal energy to reduce the body temperature to 37.0C in...
-
Rewrite the following without an exponent. 1 (3)
-
The motor of your "dune buggy" is fueled by a gas line with a radius of4.2010 -3 mand the fuel pump is rated at 7.2510 -2 kg/s.If the density of the gas you are using is730 kg/m 3 ,determine the...
-
Fogerty Company makes two products-titanium Hubs and Sprockets. Data regarding the two products follow: Direct Labor-Hours per Hubs Sprockets Unit 0.50 0.10 Annual Production 22,000 units 50,000...
-
A plant manager who supervises workers manufacturing products, plans for production, and ensures product quality is what kind of manager? Group of answer choices a) Operations b) Top c) Human...
-
On April 29, 2015, Auk Corporation acquires 100% of the outstanding stock of Amazon Corporation (E & P of $750,000) for $1.2 million. Amazon has assets with a fair market value of $1.4 million (basis...
-
A perfectly competitive firm maximizes its profit at an output in which a. total revenue exceeds total cost by the greatest dollar amount. b. marginal cost equals the price. c. marginal cost equals...
-
A profit-maximizing perfectly competitive firm would never knowingly operate at an output level at which a. it would lose more than its total fixed costs. b. it was not earning a positive economic...
-
The minimum price at which a firm would produce in the short run is the point at which a. price equals the minimum point on its marginal cost curve. b. price equals the minimum point on its average...
Study smarter with the SolutionInn App