Question: Inputs Direct materials Direct labor Variable manufacturing overhead Standard Quantity or Hours per Unit of Output 8.20 liters 0.50 hours 0.50 hours Standard Price or

Inputs Direct materials Direct labor Variable manufacturing overhead Standard Quantity or Hours per Unit of Output 8.20 liters 0.50 hours 0.50 hours Standard Price or Rate $ 7.80 per liter $29.70 per hour $ 6.70 per hour The company has reported the following actual results for the product for September: Actual output Raw materials purchased Actual cost of raw materials purchased Raw materials used in production Actual direct labor-hours Actual direct labor cost Actual variable overhead cost 10,400 units 87,800 liters $690,500 85, 310 liters 4,700 hours $145,302 $ 27,414 Required: a. Compute the materials price variance for September. b. Compute the materials quantity variance for September c. Compute the labor rate variance for September d. Compute the labor efficiency variance for September. e. Compute the variable overhead rate variance for September Help Save & Raw materials used in production Actual direct labor-hours Actual direct labor cost Actual variable overhead cost 85,310 liters 4,700 hours $145,302 $ 27,414 Required: a. Compute the materials price variance for September b. Compute the materials quantity variance for September c. Compute the labor rate variance for September d. Compute the labor efficiency variance for September. e. Compute the variable overhead rate variance for September. f. Compute the variable overhead efficiency variance for September. (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.) a. b. C. d. Materials price variance Materials quantity variance Labor rate variance Labor efficiency variance Variable overhead rate variance Variable overhead efficiency variance e. f
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
