Question: Please help with the ones that are marked wrong. FOH spending and volume variable! Direct Materials, Direct Labor, and Overhead Variances, Journal Entries Rand Comparty

Please help with the ones that are marked wrong. FOH spending and volume variable!
Please help with the ones that are marked wrong. FOH spending and

Direct Materials, Direct Labor, and Overhead Variances, Journal Entries Rand Comparty produces dry fertilizer. At the beginning of the year, and had the following standard cost sheet: $10.80 2.70 Dired malerias (8 lbs. 51.35) Dired labor (0.15 hr. $18.00) Fixed overhead (0.20 hr. $3.00) Variable overhead (0.20 hr. 51.70) Standard cost per unit 0.60 0.34 $14.44 Overhead rates are computed using practical volume, which is 50,000 units. The actual results for the year are as follows: a. Units produced: 53,000 b. Dired materials purchased: 408.000 pounds at 51.32 pur pound c. Direct materials used: 406,800 pounds d. Direct labor: 10,500 hours at $17.95 per hour e. Fixed avhead: 536,570 f. Vart ble overhead: 518,000 Required: 1. Compute ptical and tece variances les direct materiale MPV Unfavorable 12, 240 MUV Favorable 23,220 2. Compute the direct labor rate and labor efficiency vananemis, Labor Rate Varance 525 Favorable Labor Efficuncy Vanance 45,900 Unfavorable 3. compute the foxud ovu spinding and volume variances Spending Varian X Unfavorable Volum Varan X Favorable 4. Computil the title overhead spendine ufficy va Sending Virtance 150 Unfavorable Efficiency Valance 4,335 Unfavorable

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!