The data below relate to the month of June for Mik, Inc. which uses a standard cost
Fantastic news! We've Found the answer you've been seeking!
Question:
The data below relate to the month of June for Mik, Inc. which uses a standard cost system:
Actual direct labor cost P 43,400
Actual hours used 14,000 hrs.
Standard hours allowed for good output 15,000 hrs
Direct labor rate variance - debit P 1,400
Actual total overhead P 32,000
Budgeted fixed costs P 9,000
Normal activity in hours 12,000 hrs
Total application rate per standard DLH P 2.25
Tim uses a two-way analysis of overhead variance (controllable and volume).
1. What was Mic's direct labor usage variance for June?
2. What was Mic's budget variance for June?
3. What was Mic's volume variance for June?
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
Posted Date: