The company reported the following results concerning this product in October. Actual Output Purchase of raw...
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The company reported the following results concerning this product in October. Actual Output Purchase of raw materials Actual direct labor-hours Raw materials used in production Cost of raw materials Cost of direct labor Actual variable overhead rate 8,200 47,125 2,430 44,150 $292,175 $57,591 $1.90 18850 F The materials price variance is recognized when materials are purchased. Variable overhead is applied on the basis of direct labor-hours. Required (Answers should not includes special characters like negative signs or commas. Answers should be in the format 5000 F or 5000 Up 26910 U Compute the materials quantity variance. Compute the materials price variance. Total Material Variance Compute the labor efficiency variance. Compute the direct labor rate variance. Total Labor Variance units kilos hours kilos Total Total per hour Compute the variable overhead efficiency variance. Total Variable Overhead Variance Compute the variable overhead rate variance. The company reported the following results concerning this product in October. Actual Output Purchase of raw materials Actual direct labor-hours Raw materials used in production Cost of raw materials Cost of direct labor Actual variable overhead rate 8,200 47,125 2,430 44,150 $292,175 $57,591 $1.90 18850 F The materials price variance is recognized when materials are purchased. Variable overhead is applied on the basis of direct labor-hours. Required (Answers should not includes special characters like negative signs or commas. Answers should be in the format 5000 F or 5000 Up 26910 U Compute the materials quantity variance. Compute the materials price variance. Total Material Variance Compute the labor efficiency variance. Compute the direct labor rate variance. Total Labor Variance units kilos hours kilos Total Total per hour Compute the variable overhead efficiency variance. Total Variable Overhead Variance Compute the variable overhead rate variance.
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SOLUTION Here are the computations 1 Materials Quantity Variance Actual output 8200 units Standard output 26910 units based on the given standard capacity Materials quantity variance actual output sta... View the full answer
Related Book For
Managerial Accounting
ISBN: 9780073526706
12th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
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