Question: Please see the attached document for the question and requirements. Thank you. 22-34 Computation of Variances and Other Missing Data The following data for O'Keefe

Please see the attached document for the question and requirements. Thank you. Please see the attached document for the question and requirements. Thank you.

22-34 Computation of Variances and Other Missing Data The following data for O'Keefe Company pertain to the production of 300 units of Product X during December. Selected data items are omitted. Direct Materials (all materials purchased were used during period) Standard Cost per unit: a) pounds at $3.20 per pound. Total actual cost: b) Pounds costing $5673 Standard cost allowed for units produced: $5760 Material price variance: c) Materials quantity variance: $96 U Direct Labor Standard cost: 2 hours at $7 Actual cost per hour: $7.25 Labor rate variance: e) Labor efficiency variance: $140 U Variable Overhead Standard costs: f) hours at $4 per direct labor hour Actual cost: $2250 Variable overhead spending variance: g) Variable overhead efficiency variance: h) Required: Complete the missing amounts lettered a) through h)

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!