Cascade Incorporated has provided the following information: Standards: Direct materials Direct labor Variable overhead (based on...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Cascade Incorporated has provided the following information: Standards: Direct materials Direct labor Variable overhead (based on direct labor hours) Fixed overhead Total Budgeted production = 5,000 units Actual results: Direct materials Direct labor Variable overhead Fixed overhead Units produced Required: Per Unit 5 pounds @ $3.50 per pound 2 hours @ $12.00 per hour $ 17.50 24.00 2 hours @ $10.00 per hour 20.00 15.00 $ 76.50 30,100 pounds @ $3.57 11,120 @ $12.55 $ 107,457 139,556 108,420 76,300 5,400 units a. Calculate the direct materials price variance. Note: Do not round your Intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (l.e., zero variance). b. Calculate the direct materials quantity variance. Note: Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (l.e., zero varlance). c. Calculate the direct labor rate variance. Note: Do not round your Intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (l.e., zero variance). d. Calculate the direct labor efficiency variance. Note: Do not round Intermediate calculations and round your final answer to nearest dollar amount. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (l.e., zero varlance). e. Calculate the variable overhead rate variance. Note: Do not round your Intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (l.e., zero variance). f. Calculate the variable overhead efficiency variance. Note: Do not round intermediate calculations and round your final answer to nearest dollar amount. Indicate the effect of varlance by selecting "Favorable", "Unfavorable", or "None" for no effect (l.e., zero varlance). g. Calculate the fixed overhead spending variance. Note: Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (l.e., zero varlance). a. Price Variance b. Quantity Variance c. Rate Variance d. Efficiency Variance e. Rate Variance f. Efficiency Variance g. Spending Variance Unfavorable Unfavorable Unfavorable Unfavorable Favorable Unfavorable Unfavorable Cascade Incorporated has provided the following information: Standards: Direct materials Direct labor Variable overhead (based on direct labor hours) Fixed overhead Total Budgeted production = 5,000 units Actual results: Direct materials Direct labor Variable overhead Fixed overhead Units produced Required: Per Unit 5 pounds @ $3.50 per pound 2 hours @ $12.00 per hour $ 17.50 24.00 2 hours @ $10.00 per hour 20.00 15.00 $ 76.50 30,100 pounds @ $3.57 11,120 @ $12.55 $ 107,457 139,556 108,420 76,300 5,400 units a. Calculate the direct materials price variance. Note: Do not round your Intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (l.e., zero variance). b. Calculate the direct materials quantity variance. Note: Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (l.e., zero varlance). c. Calculate the direct labor rate variance. Note: Do not round your Intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (l.e., zero variance). d. Calculate the direct labor efficiency variance. Note: Do not round Intermediate calculations and round your final answer to nearest dollar amount. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (l.e., zero varlance). e. Calculate the variable overhead rate variance. Note: Do not round your Intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (l.e., zero variance). f. Calculate the variable overhead efficiency variance. Note: Do not round intermediate calculations and round your final answer to nearest dollar amount. Indicate the effect of varlance by selecting "Favorable", "Unfavorable", or "None" for no effect (l.e., zero varlance). g. Calculate the fixed overhead spending variance. Note: Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (l.e., zero varlance). a. Price Variance b. Quantity Variance c. Rate Variance d. Efficiency Variance e. Rate Variance f. Efficiency Variance g. Spending Variance Unfavorable Unfavorable Unfavorable Unfavorable Favorable Unfavorable Unfavorable
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
If you invested $320 million into a project today, and achieved operating cash flows of $180million, $60 million, $50 million, $50 million, and $40 million, how would you measure the following: a....
-
The cash account of Abstract, Inc., disclosed a balance of $16,348.82 on October 31. The bank statement as of October 31 showed a balance of $19,711.75. Upon comparing the statement with the cash...
-
A married couple filing jointly have a combined total adjusted gross income of $75,000. They have computed that their allowable itemized deductions are $4000. Compute their federal income tax....
-
Argue the case for and against the political independence of central banks.
-
The Great Outdoors Clothing Company, a mail-order catalogue operation, contracts with the Federal Parcel Service to deliver all of its orders to customers. As such, Great Outdoors considers Federal...
-
Explain how E-business has led to disintermediation (or channel compression) within the automotive industry and provide examples. Keep in mind that E-business goes beyond just buying and selling...
-
Identify various sources of job satisfaction Walmart provides to its employees to retain its employees. List and discuss two additional sources of job satisfaction that may help Walmart retain its...
-
Why do some people gain weight more easily? What is the thrifty gene theory? What are the downsides to leading a sedentary lifestyle? How long does the average American spend sitting per day? How...
-
Freddie has a small telescope that has a 131-cm focal length objective and an angular magnification of33. In order to make his sister appear smaller, he turns the telescope around and looks through...
-
Application of Business theories using procurement/supply chain management scenarios to produce an essay describing a company you admire and are interested in learning about (tell me why this company...
-
0 A block of mass m= 6.5kg is moving on an inclined plane with a speed of v =10.9m/s at the instant shown in the upward direction. There is friction between the inclined plane and the block with...
-
If a telescope has objective and eyepiece lenses with focal lengths respectively of 104 cm and 2.90 cm, determine the distance needed between these two lenses in order to produce a final image far...
-
Martha, a single individual, has come to you with a new business concept. She has created a unique type of glove that runners can use for taking their vitals while working out. The glove also sends...
-
Write a paper by answer the following question: Should Recycling Be Mandatory?
-
Quick Ratio Calculate the company's quick ratio for 2019 and compare the result to the industry average. Use the following financial data for Brenner Instruments Sales revenue.. Cost of goods sold...
-
Accounts Receivable Turnover Calculate the company's accounts receivable turnover for 2019 and compare the result to the industry average. Use the following financial data for Brenner Instruments...
-
Current Ratio Calculate the company's current ratio for 2019 and compare the result to the industry average. Use the following financial data for Brenner Instruments Sales revenue.. Cost of goods...
Study smarter with the SolutionInn App