Majer Corporation manufactures a product with the following standard costs: Standard amount or hours Price or Standard
Question:
Majer Corporation manufactures a product with the following standard costs:
Standard amount or hours | Price or Standard Rate | Standard cost per unit | |||||||
Direct materials | 6.4 | ounces | ps | 3.00 | per ounce | ps | 19.20 | ||
Direct labour | 0.4 | hours | ps | 13.00 | per hour | ps | 5.20 | ||
Variable Overhead | 0.4 | hours | ps | 5.00 | per hour | ps | 2.00 | ||
The company reported the following results regarding this product in February.
Product originally budgeted | 4.800 | units | |
actual output | 4,900 | units | |
Raw materials used in production. | 30,230 | ounces | |
Actual direct labor hours | 1,910 | hours | |
raw material purchases | 32,600 | ounces | |
Actual price of raw materials. | ps | 2.90 | per ounce |
Actual rate of direct labor | ps | 12.40 | per hour |
Real Variable Overhead Rate | ps | 4.90 | per hour |
The company applies variable overhead on the basis of direct labor hours. The direct materials purchase variance is calculated when the materials are purchased.
The variation in the price of materials for February is ?
2. Tharaldson Corporation manufactures a product with the following standard costs:
Standard amount or hours | Price or Standard Rate | Standard cost per unit | |||||||
Direct materials | 6.5 | ounces | ps | 2.00 | per ounce | ps | 13.00 | ||
Direct labour | 0.2 | hours | ps | 23.00 | per hour | ps | 4.60 | ||
Variable Overhead | 0.2 | hours | ps | 6.00 | per hour | ps | 1.20 | ||
The company reported the following results regarding this product in June.
Product originally budgeted | 2,700 | units | |
actual output | 2,800 | units | |
Raw materials used in production. | 19,380 | ounces | |
raw material purchases | 21,400 | ounces | |
Actual direct labor hours | 500 | hours | |
Actual cost of raw material purchases | ps | 40,660 | |
Actual cost of direct labor | ps | 12,050 | |
Actual Variable Overhead Cost | ps | 3,100 | |
The company applies variable overhead on the basis of direct labor hours. The direct materials purchase variance is calculated when the materials are purchased.
The variation in the price of materials for June is ?
Handerson Corporation manufactures a product with the following standard costs:
Standard amount or hours | Price or Standard Rate | ||||||||||
Direct materials | 8.5 | kilos | ps | 6.00 | per kilo | ||||||
Direct labour | 0.4 | hours | ps | 20.00 | per hour | ||||||
Variable Overhead | 0.4 | hours | ps | 6.00 | per hour | ||||||
The company reported the following results regarding this product in August.
actual output | 3,200 | units | |
Raw materials used in production. | 29,030 | kilos | |
raw material purchases | 31,600 | kilos | |
Actual direct labor hours | 1,160 | hours | |
Actual cost of raw material purchases | ps | 195,920 | |
Actual cost of direct labor | ps | 22,736 | |
Actual Variable Overhead Cost | ps | 7,540 | |
The company applies variable overhead on the basis of direct labor hours. The direct materials purchase variance is calculated when the materials are purchased.
The labor efficiency variation for August is ?
Handerson Corporation manufactures a product with the following standard costs:
Standard amount or hours | Price or Standard Rate | ||||||||||
Direct materials | 8.5 | kilos | ps | 6.00 | per kilo | ||||||
Direct labour | 0.4 | hours | ps | 20.00 | per hour | ||||||
Variable Overhead | 0.4 | hours | ps | 6.00 | per hour | ||||||
The company reported the following results regarding this product in August.
actual output | 3,200 | units | |
Raw materials used in production. | 29,030 | kilos | |
raw material purchases | 31,600 | kilos | |
Actual direct labor hours | 1,160 | hours | |
Actual cost of raw material purchases | ps | 195,920 | |
Actual cost of direct labor | ps | 22,736 | |
Actual Variable Overhead Cost | ps | 7,540 | |
The company applies variable overhead on the basis of direct labor hours. The direct materials purchase variance is calculated when the materials are purchased.
The variable overhead efficiency variance for August is ?