Question: This question has been asked once before with a confusing answer given. I am in hopes that someone can give a better explanation and answers.

This question has been asked once before with a confusing answer given. I am in hopes that someone can give a better explanation and answers.

Standard cost information:

Standard Quantity / Unit Standard Price Standard Cost / Unit
Direct Material 2 $0.75 $1.50
Direct Labor 5 $0.35 $1.75
Variable Overhead 3 $1.20 $3.60

Actual cost information:

Total Actual Used Total Actual Cost
Direct Material 19,500 $19,500
Direct Labor 34,500 $15,750
Variable Overhead 18,000 $22,000

Do not enter dollar signs or commas in the input boxes. Round all Unit values to 2 decimal places. Round all other answers to the nearest whole number. Enter all variances as positive values.

a) Complete Direct Materials variance analysis.

Actual Results / Unit Total Actual Results Price Variance AQ x SP Quantity Variance Total Standard Allowed Standard Allowed / Unit
Units Produced 1.00 7,500 7,500.00 7,500 1.00
Materials / Unit Produced Answer Answer Answer Answer Answer
Price/Unit Answer Answer Answer
Total Cost Answer Answer Answer AnswerFU Answer Answer AnswerFU Answer Answer
Total DM Variance Answer AnswerFU

b) Complete Direct Labor variance analysis.

Actual Results / Unit Total Actual Results Labor rate variance AQ x SP DL efficiency variance Total Standard Allowed Standard Allowed / Unit
Units Produced 1.00 7,500 7,500.00 7,500 1.00
DLH / Unit Produced Answer Answer Answer Answer Answer
DL Price/Unit Answer Answer Answer
Total Cost Answer Answer Answer AnswerFU Answer Answer AnswerFU Answer Answer
Total DL Variance Answer AnswerFU

c) Complete Variable Overhead variance analysis.

Actual Results / Unit Total Actual Results VOH spending variance AQ x SP VOH efficiency variance Total Standard Allowed Standard Allowed / Unit
Units Produced 1.00 7,500 7,500.00 7,500 1.00
VOH / Unit Produced Answer Answer Answer Answer Answer
VOH Price/Unit Answer Answer Answer
Total Cost Answer Answer Answer AnswerFU Answer Answer AnswerFU Answer Answer
Total VOH Variance Answer AnswerFU

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!

Q:

\f