The Big Book Company builds wooden bookshelf wall units. The company's standard costs are: Wood Trim...

  

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The Big Book Company builds wooden bookshelf wall units. The company's standard costs are: Wood Trim Direct labor Variable overhead Fixed overhead 25 pounds at P6.40 per pound 8 pounds at P10.00 per pound 5 hours at P12.00 per hour P 30.00 per unit P 130,000 per period, applied at the rate of P20,00 per unit A recent month's transactions were: 160,000 pounds of wood were purchased at P6.50 per pound; 50,000 pounds of trim were purchased at P9.60 per pound. 155,000 pounds of wood were issued to production; 48,500 pounds of trim were issued to production. Direct labor incurred was 31,000 hours at an average cost of P 11.50 per hour. Overhead costs were P302,000, of which P 181,000 were variable. Six thousand units were produced during the month. + 3 What was the total actual cost of wood purchased? What was the total standard cost of wood purchased? 4 What was the wood price variance? What was the total actual cost of trim purchased? What was the trim price variance? What was the trim efficiency variance? What was the direct labor price variance? 10 What was the direct labor efficiency variance? Using the two-way variance analysis for combined fixed and variable overhead, what was Big Book's overhead spending variance? 12. Using the two-way variance analysis for combined fixed and variable overhead, what was Big Book's overhead production volume variance? The Big Book Company builds wooden bookshelf wall units. The company's standard costs are: Wood Trim Direct labor Variable overhead Fixed overhead 25 pounds at P6.40 per pound 8 pounds at P10.00 per pound 5 hours at P12.00 per hour P 30.00 per unit P 130,000 per period, applied at the rate of P20,00 per unit A recent month's transactions were: 160,000 pounds of wood were purchased at P6.50 per pound; 50,000 pounds of trim were purchased at P9.60 per pound. 155,000 pounds of wood were issued to production; 48,500 pounds of trim were issued to production. Direct labor incurred was 31,000 hours at an average cost of P 11.50 per hour. Overhead costs were P302,000, of which P 181,000 were variable. Six thousand units were produced during the month. + 3 What was the total actual cost of wood purchased? What was the total standard cost of wood purchased? 4 What was the wood price variance? What was the total actual cost of trim purchased? What was the trim price variance? What was the trim efficiency variance? What was the direct labor price variance? 10 What was the direct labor efficiency variance? Using the two-way variance analysis for combined fixed and variable overhead, what was Big Book's overhead spending variance? 12. Using the two-way variance analysis for combined fixed and variable overhead, what was Big Book's overhead production volume variance? The Big Book Company builds wooden bookshelf wall units. The company's standard costs are: Wood Trim Direct labor Variable overhead Fixed overhead 25 pounds at P6.40 per pound 8 pounds at P10.00 per pound 5 hours at P12.00 per hour P 30.00 per unit P 130,000 per period, applied at the rate of P20,00 per unit A recent month's transactions were: 160,000 pounds of wood were purchased at P6.50 per pound; 50,000 pounds of trim were purchased at P9.60 per pound. 155,000 pounds of wood were issued to production; 48,500 pounds of trim were issued to production. Direct labor incurred was 31,000 hours at an average cost of P 11.50 per hour. Overhead costs were P302,000, of which P 181,000 were variable. Six thousand units were produced during the month. + 3 What was the total actual cost of wood purchased? What was the total standard cost of wood purchased? 4 What was the wood price variance? What was the total actual cost of trim purchased? What was the trim price variance? What was the trim efficiency variance? What was the direct labor price variance? 10 What was the direct labor efficiency variance? Using the two-way variance analysis for combined fixed and variable overhead, what was Big Book's overhead spending variance? 12. Using the two-way variance analysis for combined fixed and variable overhead, what was Big Book's overhead production volume variance? The Big Book Company builds wooden bookshelf wall units. The company's standard costs are: Wood Trim Direct labor Variable overhead Fixed overhead 25 pounds at P6.40 per pound 8 pounds at P10.00 per pound 5 hours at P12.00 per hour P 30.00 per unit P 130,000 per period, applied at the rate of P20,00 per unit A recent month's transactions were: 160,000 pounds of wood were purchased at P6.50 per pound; 50,000 pounds of trim were purchased at P9.60 per pound. 155,000 pounds of wood were issued to production; 48,500 pounds of trim were issued to production. Direct labor incurred was 31,000 hours at an average cost of P 11.50 per hour. Overhead costs were P302,000, of which P 181,000 were variable. Six thousand units were produced during the month. + 3 What was the total actual cost of wood purchased? What was the total standard cost of wood purchased? 4 What was the wood price variance? What was the total actual cost of trim purchased? What was the trim price variance? What was the trim efficiency variance? What was the direct labor price variance? 10 What was the direct labor efficiency variance? Using the two-way variance analysis for combined fixed and variable overhead, what was Big Book's overhead spending variance? 12. Using the two-way variance analysis for combined fixed and variable overhead, what was Big Book's overhead production volume variance? The Big Book Company builds wooden bookshelf wall units. The company's standard costs are: Wood Trim Direct labor Variable overhead Fixed overhead 25 pounds at P6.40 per pound 8 pounds at P10.00 per pound 5 hours at P12.00 per hour P 30.00 per unit P 130,000 per period, applied at the rate of P20,00 per unit A recent month's transactions were: 160,000 pounds of wood were purchased at P6.50 per pound; 50,000 pounds of trim were purchased at P9.60 per pound. 155,000 pounds of wood were issued to production; 48,500 pounds of trim were issued to production. Direct labor incurred was 31,000 hours at an average cost of P 11.50 per hour. Overhead costs were P302,000, of which P 181,000 were variable. Six thousand units were produced during the month. + 3 What was the total actual cost of wood purchased? What was the total standard cost of wood purchased? 4 What was the wood price variance? What was the total actual cost of trim purchased? What was the trim price variance? What was the trim efficiency variance? What was the direct labor price variance? 10 What was the direct labor efficiency variance? Using the two-way variance analysis for combined fixed and variable overhead, what was Big Book's overhead spending variance? 12. Using the two-way variance analysis for combined fixed and variable overhead, what was Big Book's overhead production volume variance? The Big Book Company builds wooden bookshelf wall units. The company's standard costs are: Wood Trim Direct labor Variable overhead Fixed overhead 25 pounds at P6.40 per pound 8 pounds at P10.00 per pound 5 hours at P12.00 per hour P 30.00 per unit P 130,000 per period, applied at the rate of P20,00 per unit A recent month's transactions were: 160,000 pounds of wood were purchased at P6.50 per pound; 50,000 pounds of trim were purchased at P9.60 per pound. 155,000 pounds of wood were issued to production; 48,500 pounds of trim were issued to production. Direct labor incurred was 31,000 hours at an average cost of P 11.50 per hour. Overhead costs were P302,000, of which P 181,000 were variable. Six thousand units were produced during the month. + 3 What was the total actual cost of wood purchased? What was the total standard cost of wood purchased? 4 What was the wood price variance? What was the total actual cost of trim purchased? What was the trim price variance? What was the trim efficiency variance? What was the direct labor price variance? 10 What was the direct labor efficiency variance? Using the two-way variance analysis for combined fixed and variable overhead, what was Big Book's overhead spending variance? 12. Using the two-way variance analysis for combined fixed and variable overhead, what was Big Book's overhead production volume variance? The Big Book Company builds wooden bookshelf wall units. The company's standard costs are: Wood Trim Direct labor Variable overhead Fixed overhead 25 pounds at P6.40 per pound 8 pounds at P10.00 per pound 5 hours at P12.00 per hour P 30.00 per unit P 130,000 per period, applied at the rate of P20,00 per unit A recent month's transactions were: 160,000 pounds of wood were purchased at P6.50 per pound; 50,000 pounds of trim were purchased at P9.60 per pound. 155,000 pounds of wood were issued to production; 48,500 pounds of trim were issued to production. Direct labor incurred was 31,000 hours at an average cost of P 11.50 per hour. Overhead costs were P302,000, of which P 181,000 were variable. Six thousand units were produced during the month. + 3 What was the total actual cost of wood purchased? What was the total standard cost of wood purchased? 4 What was the wood price variance? What was the total actual cost of trim purchased? What was the trim price variance? What was the trim efficiency variance? What was the direct labor price variance? 10 What was the direct labor efficiency variance? Using the two-way variance analysis for combined fixed and variable overhead, what was Big Book's overhead spending variance? 12. Using the two-way variance analysis for combined fixed and variable overhead, what was Big Book's overhead production volume variance? The Big Book Company builds wooden bookshelf wall units. The company's standard costs are: Wood Trim Direct labor Variable overhead Fixed overhead 25 pounds at P6.40 per pound 8 pounds at P10.00 per pound 5 hours at P12.00 per hour P 30.00 per unit P 130,000 per period, applied at the rate of P20,00 per unit A recent month's transactions were: 160,000 pounds of wood were purchased at P6.50 per pound; 50,000 pounds of trim were purchased at P9.60 per pound. 155,000 pounds of wood were issued to production; 48,500 pounds of trim were issued to production. Direct labor incurred was 31,000 hours at an average cost of P 11.50 per hour. Overhead costs were P302,000, of which P 181,000 were variable. Six thousand units were produced during the month. + 3 What was the total actual cost of wood purchased? What was the total standard cost of wood purchased? 4 What was the wood price variance? What was the total actual cost of trim purchased? What was the trim price variance? What was the trim efficiency variance? What was the direct labor price variance? 10 What was the direct labor efficiency variance? Using the two-way variance analysis for combined fixed and variable overhead, what was Big Book's overhead spending variance? 12. Using the two-way variance analysis for combined fixed and variable overhead, what was Big Book's overhead production volume variance?

Answer rating: 100% (QA)

SOLUTION Total Actual Cost of Wood Purchased Total Actual Cost Quantity Purchased Actual Price per Unit Total Actual Cost of Wood Purchased 160000 pou... View the full answer