Bullseye Company manufactures dartboards. Its standard cost information follows: Standard Price (Rate) Standard Quantity 3.50 sq....

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Bullseye Company manufactures dartboards. Its standard cost information follows: Standard Price (Rate) Standard Quantity 3.50 sq. ft. 1 hrs. Standard Unit Cost $ 8.75 11.00 Direct materials (cork board) Direct labor $ 2.50 per sq. ft. $11.00 per hr. Variable manufacturing overhead (based on direct labor hours) 1 hrs. $ 0.55 per hr. 0.55 Fixed manufacturing overhead ($51,000 + 170,000 units) 0.30 Bullseye has the following actual results for the month of September: Number of units produced and sold 150,000 520,000 Number of square feet of corkboard used Cost of corkboard used $1,248,000 159,000 Number of labor hours worked Direct labor cost Variable overhead cost $1,605,900 $ 92,000 66,000 Fixed overhead cost $ Required: 1. Calculate the direct materials price, quantity, and total spending variances for Bullseye. 2. Calculate the direct labor rate, efficiency, and total spending variances for Bullseye. 3. Calculate the variable overhead rate, efficiency, and total spending variances for Bullseye. Bullseye Company manufactures dartboards. Its standard cost information follows: Standard Price (Rate) Standard Quantity 3.50 sq. ft. 1 hrs. Standard Unit Cost $ 8.75 11.00 Direct materials (cork board) Direct labor $ 2.50 per sq. ft. $11.00 per hr. Variable manufacturing overhead (based on direct labor hours) 1 hrs. $ 0.55 per hr. 0.55 Fixed manufacturing overhead ($51,000 + 170,000 units) 0.30 Bullseye has the following actual results for the month of September: Number of units produced and sold 150,000 520,000 Number of square feet of corkboard used Cost of corkboard used $1,248,000 159,000 Number of labor hours worked Direct labor cost Variable overhead cost $1,605,900 $ 92,000 66,000 Fixed overhead cost $ Required: 1. Calculate the direct materials price, quantity, and total spending variances for Bullseye. 2. Calculate the direct labor rate, efficiency, and total spending variances for Bullseye. 3. Calculate the variable overhead rate, efficiency, and total spending variances for Bullseye.

Answer rating: 100% (QA)

1 Direct Material Price Variance 52000 F 12500 F Direct Material Quantity Variance Total Spending Va... View the full answer