Use the following data to calculate the variances in the following questions. Standard Cost Profile Lab Treatment
Fantastic news! We've Found the answer you've been seeking!
Question:
Use the following data to calculate the variances in the following questions.
Standard Cost Profile
Lab Treatment SU #12
Expected Treatments= 1,000
Standard Cost Profile Lab Treatment SU #12 Expected Treatments= 1,000
Actual Month Cost
Lab Treatment SU #12
Actual Treatments = 1,100
Calculate the following variances and indicate whether each variance is favorable or unfavorable:
1.1. Efficiency Variance – Labor
1.2. Efficiency Variance – Supplies
1.3. Price Variance – Labor
1.4. Price Variance – Supplies
1.5. Volume Variance
1.6. Total Variance
Transcribed Image Text:
Resource Quantity. Variable Labor 0.80 Supplies 7.00 Quantity Fixed 0.80 0 Unit Cost $16.00 1.10 Variable Cost $12.80 7.70 $20.50 Average Fixed Cost $12.80 O $12.80 Average Total Cost $25.60 7.70 $33.30 Home Health Agency Costs Resource Quantity Used Unit Cost Labor 1,600 $17.00 Supplies 7,500 1.00 Total Cost $27,200 7,500 $34,700 Resource Quantity. Variable Labor 0.80 Supplies 7.00 Quantity Fixed 0.80 0 Unit Cost $16.00 1.10 Variable Cost $12.80 7.70 $20.50 Average Fixed Cost $12.80 O $12.80 Average Total Cost $25.60 7.70 $33.30 Home Health Agency Costs Resource Quantity Used Unit Cost Labor 1,600 $17.00 Supplies 7,500 1.00 Total Cost $27,200 7,500 $34,700
Expert Answer:
Answer rating: 100% (QA)
1 Efficiency Variance Labor Labor efficiency variance Standard unit cost of ... View the full answer
Posted Date:
Students also viewed these accounting questions
-
Please provide the answer in excel with the formulas and explain he steps. The are three questions below. The bullets are the information needed to answer and solve the questions. Medical Center...
-
Use the following data to calculate GDP, GNP, NNP, national income, personal income, and personal disposable income. PERSONAL CONSUMPTION EXPENDITURES INTEREST CORPORATE PROFIT GOVERNMENT PURCHASES...
-
A 185-kg load is hung on a wire of length of 3.40 m, cross-sectional area 2.00 10-5 m2, and Young's modulus 8.00 x 10^10 N/m2. What is its increase in length?
-
A company acquired a chargeable asset (not a chattel) in 1979. The asset was sold in December 2020 for 2,800. Compute the chargeable gain or allowable loss if the original cost of the asset and its...
-
Reconsider the model in Prob. 4.1-5. Interpret the right-hand side of the respective functional constraints as the amount available of the respective resources. (a) Use graphical analysis as in Fig....
-
For some metal alloy, a true stress of 415MPa (60,175psi) produces a plastic true strain of 0.475. How much will a specimen of this material elongate when a true stress of 325MPa (46,125psi) is...
-
The United States brought a lawsuit requesting forfeiture of a \($38.5\) million jet purchased by Teodoro Nguema Obiang Mangue (Nguema) because the government believed the jet had been purchased with...
-
KC Services provides landscaping services in Edison. Kate Chen, the owner, is concerned about the recent losses the company has incurred and is considering dropping its lawn services, which she feels...
-
which a disk A of radius r rotates about a fixed vertical axis with angular displacement q1. A bar B of length h is pinned to A such that the axis of rotation is a radial line of A. (Note this is a...
-
1.How much gain on derecognition of the corporate housing facility should Snack That, as seller-lessee, recognize as a result of the sale? 2.How much gain on derecognition of the shuttle should Snack...
-
The classified Balance Sheet will subsection the assets section as follows Other Assets and Property, Plant and Equipment Current Assets and Short-Term Assets Current Assets and Other Assets Current...
-
If Melissa wants to retire with \(\$ 50,000\) per month, how much principal is necessary to generate this amount of monthly income if the interest rate is 3%?
-
The system has a transfer function \(\mathrm{P}(\mathrm{s})=\frac{2}{s+2}\). The gain for \(\omega=2 \mathrm{rad} / \mathrm{sec}\) will be (a) 0.707 (b) 0.666 (c) 0.5 (d) 0.25
-
Using letters A, T, E for the component statements, translate the following compound statements into symbolic notation. a. If Anita wins the election, then tax rates will be reduced. b. Tax rates...
-
Suppose you see a car with an advertised price of \(\$ 18,490\) at \(\$ 480\) per month for 5 years. What is the amount of interest paid?
-
Rewrite each of the following statements in the form "If \(A\), then \(B\)." a. Candidate Lu winning the election will be a sufficient condition for property taxes to increase. b. The user clicks...
-
Discuss How HIE update success will be measured. Include Key performance indicators (KPIs)
-
The May 2014 revenue and cost information for Houston Outfitters, Inc. follow: Sales Revenue (at standard).............. $ 540,000 Cost of Goods Sold (at standard) ..........341,000 Direct Materials...
-
Reconsider Problem 18. Management has decided that the $5 million raised through stock should be split between common stock and preferred stock. Common stock will be used to raise $3,000,000 and...
-
Repeat Problem 23 assuming that the stock price is growing at 3 percent per year. Data from problem 23 Lahoma Enterprises, Inc., needs $15 million to finance a major product development. The project...
-
Repeat Problem 23 assuming the stock offering will be preferred stock rather than common stock. The preferred stock will sell for $120/share, pay a $9 annual dividend, and have a cost of selling of...
Study smarter with the SolutionInn App