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 | ||||||||
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