t e Flint Manufacturing Corporation uses a standard cost system to collect cost data about product...

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t e Flint Manufacturing Corporation uses a standard cost system to collect cost data about product A (the only product it sells). The table below shows the standard cost data for the year ended December 31, 2022. Description Standard number of unit Material A Material B Direct labor Machine X Direct Labor Machine Y Actual total data for the year is shown in the table below: to produce one unit 4 2 Standard cost of one unit to produce one unit $2.00 $3.00 2 hours 1 hour $12.00 per hour $15.00 per hour Description Material A Material B Direct labor Machine X Direct Labor Machine Y Total number of units used during the year 1,134 Total cost incurred during the year $2,450 590 $1,698 580 hours $6,870 276 hours $4,210 Flint Manufacturing produced 270 units of product A and sold 220 units to customers during the year ended December 31, 2022. Required: Calculate the following: Description Variance Favorable or unfavorable Amount Materials usage variance Material A Materials usage variance Material B Materials price variance Material A Materials price variance (combined) Direct labor price variance Machine X Direct labor price variance Machine Y Direct labor usage variance (combined) 5 t e Flint Manufacturing Corporation uses a standard cost system to collect cost data about product A (the only product it sells). The table below shows the standard cost data for the year ended December 31, 2022. Description Standard number of unit Material A Material B Direct labor Machine X Direct Labor Machine Y Actual total data for the year is shown in the table below: to produce one unit 4 2 Standard cost of one unit to produce one unit $2.00 $3.00 2 hours 1 hour $12.00 per hour $15.00 per hour Description Material A Material B Direct labor Machine X Direct Labor Machine Y Total number of units used during the year 1,134 Total cost incurred during the year $2,450 590 $1,698 580 hours $6,870 276 hours $4,210 Flint Manufacturing produced 270 units of product A and sold 220 units to customers during the year ended December 31, 2022. Required: Calculate the following: Description Variance Favorable or unfavorable Amount Materials usage variance Material A Materials usage variance Material B Materials price variance Material A Materials price variance (combined) Direct labor price variance Machine X Direct labor price variance Machine Y Direct labor usage variance (combined) 5

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Answer To calculate the variances we will use the following formulas 1 Materials Usage Variance For ... View the full answer