this is the first part of the table Actual output Direct Raw materials used...
50.1K
Verified Solution
Link Copied!
Question
Accounting
this is the first part of the table
Actual output Direct Raw materials used in production Purchases of direct raw materials Actual direct labor-hours Actual cost of direct raw materials purchases Actual direct labor cost Actual variable overhead cost Actual Fixed overhead cost 3,000 units 19,000 lb 17,000 lb 820 hours $150,000 $12,000 $5,000 $50,000 Direct labor-hours are used as a cost driver. Required: Calculate the following: a. The materials quantity variance, b. The materials price variance. c. The labor efficiency variance. d. The labor rate variance. e. The fixed overhead variance. f. The production-volume variance g. The variable overhead spending variance. h. The variable overhead efficiency variance, au lab wie ivwowing budgeted costs for its 4,000 budgeted outputs: Direct materials Direct labor Variable overhead Fixed overhead Standard Quantity or Hours 8.5 lb 2 hours 2 hours 2 hours Standard Price or Rate $10.00 per lb $18.00 per hour $8.00 per hour $7.5.00 per hour The following actual data is reported for the month of June
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
this is the first part of the table