Problem 23-1A Costello Corporation manufactures a single product. The standard cost per unit of product is...

  

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Problem 23-1A Costello Corporation manufactures a single product. The standard cost per unit of product is shown below. Direct materials-1 pound plastic at $6.35 per pound Direct labor-1.00 hours at $12.00 per hour Variable manufacturing overhead Fixed manufacturing overhead Total standard cost per unit The predetermined manufacturing overhead rate is $12 per direct labor hour ($12.00 1.00). It was computed from a master manufacturing overhead budget based on normal production of 5,200 direct labor hours (5,200 units) for the month. The master budget showed total variable costs of $39,000 ($7.50 per hour) and total fixed overhead costs of $23,400 ($4.50 per hour). Actual costs for October in producing 3,800 units were as follows. Direct materials (3,910 pounds) Direct labor (3,670 hours) Variable overhead Fixed overhead $ 6.35 12.00 7.50 4.50 $30.35 $ 25,806 45,214 32,146 15,484 $118,650 The purchasing department buys the quantities of raw materials that are expected to be used in production each month. Raw materials inventories, therefore, can be ignored. Total manufacturing costs Compute all of the materials and labor variances. (Round answers to 0 decimal places, e.g. 125.) Total materials variance $ Materials price variance $ Materials quantity variance Total labor variance Labor price variance Labor quantity variance LINK TO TEXT Total overhead variance $ Compute the total overhead variance. LINK TO TEXT $ $ $ ▼ ▾ ▼ LINK TO VIDEO LINK TO VIDEO Problem 23-1A Costello Corporation manufactures a single product. The standard cost per unit of product is shown below. Direct materials-1 pound plastic at $6.35 per pound Direct labor-1.00 hours at $12.00 per hour Variable manufacturing overhead Fixed manufacturing overhead Total standard cost per unit The predetermined manufacturing overhead rate is $12 per direct labor hour ($12.00 1.00). It was computed from a master manufacturing overhead budget based on normal production of 5,200 direct labor hours (5,200 units) for the month. The master budget showed total variable costs of $39,000 ($7.50 per hour) and total fixed overhead costs of $23,400 ($4.50 per hour). Actual costs for October in producing 3,800 units were as follows. Direct materials (3,910 pounds) Direct labor (3,670 hours) Variable overhead Fixed overhead $ 6.35 12.00 7.50 4.50 $30.35 $ 25,806 45,214 32,146 15,484 $118,650 The purchasing department buys the quantities of raw materials that are expected to be used in production each month. Raw materials inventories, therefore, can be ignored. Total manufacturing costs Compute all of the materials and labor variances. (Round answers to 0 decimal places, e.g. 125.) Total materials variance $ Materials price variance $ Materials quantity variance Total labor variance Labor price variance Labor quantity variance LINK TO TEXT Total overhead variance $ Compute the total overhead variance. LINK TO TEXT $ $ $ ▼ ▾ ▼ LINK TO VIDEO LINK TO VIDEO

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