Question: Murray, Inc's current year budget is based on: 40,000 units. The standard costs per unit are: Qty $ Direct materials 10 pounds 4.00 per pound
| Murray, Inc's current year budget is based on: | 40,000 | units. | |||||
| The standard costs per unit are: | |||||||
| Qty | $ | ||||||
| Direct materials | 10 | pounds | 4.00 | per pound | $20.00 | per unit | |
| Direct labor | 4 | hours | 17.5 | per hour | 17.5 | per unit | |
| Variable overhead | 4 | hours | 9 | per hour | 6 | per unit | |
| Fixed overhead | 4 | hours | 21 | per hour | 14 | per unit | |
| Total cost per unit | $57.50 | per unit | |||||
| The actual production achieved in the current year was: | 30,000 | units. | |||||
| During the year, Maroon used: | 298,000 | pounds of material. | |||||
| The actual costs incurred were: | |||||||
| Qty | $ | ||||||
| Direct materials | 300,700 | pounds | $ 1,232,870 | ||||
| Direct labor | 119,600 | hours | $ 2,081,040 | ||||
| Variable overhead | $ 1,152,000 | ||||||
| Fixed overhead | $ 3,312,000 | ||||||
| Calculate Murrays standard quantities allowed and its eight variances. Do not type dollar signs ($) or spaces (_). | |||||||
| SQa materials pounds |
| SQa labor hours |
| DM price $ |
| DM efficiency $ |
| DL price $ |
| DL efficiency $ |
| VOH spending $ |
| VOH efficiency $ |
| FOH spending/flexible budget $ |
| FOH production-volume $ |
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