of 2 Required information [The following information applies to the questions displayed below.] BatCo makes baseball bats. Each bat requires 2.00 pounds of wood at $20 per pound and 0.25 direct labor hour at $30 per hour. Overhead is assigned at the rate of $60 per direct labor hour. Book Assume the actual cost to manufacture 150 bats is $9,975.00. Compute the total cost variance and identify it as favorable or unfavorable. Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance. Hint Terences Actual cost Budgeted standard cost Total cost variance
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- Required information (The following information applies to the questions displayed below.] BatCo makes baseball bats. Each bat requires 1.00 pounds of wood at $18 per pound and 0.25 direct labor hour at $30 per hour. Overhead is assigned at the rate of $60 per direct labor hour. Assume the actual cost to manufacture 120 bats is $5,700.00. Compute the total cost variance and identify it as favorable or unfavorable. (Indicate the effect of the variance by selecting favorable, unfavorable. or no variance.) Actual cost Budgeted standard cost Total cost variance2 < ces ! Check my work Required information [The following information applies to the questions displayed below.] BatCo makes baseball bats. Each bat requires 1.00 pounds of wood at $22 per pound and 0.30 direct labor hour at $20 per hour. Overhead is assigned at the rate of $40 per direct labor hour. Assume the actual cost to manufacture 130 bats is $6,240.00. Compute the total cost variance and identify it as favorable or unfavorable. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Actual cost Budgeted standard cost Total cost varianceAcme Inc. has the following information available: $ 1.00 $ 1.20 Actual price paid for material Standard price for material Actual quantity purchased and used in production 100 Standard quantity for units produced 110 $ 15.00 $ 16.00 Actual labor rate per hour Standard labor rate per hour Actual hours 200 Standard hours for units produced 220 Calculate the Labor Efficiency (Time) Variance and indicate if the variance is favorable or unfavorable
- Acme Inc. has the following information available: Actual price paid for material $1.000 Standard price for material $0.730 Actual quantity purchased and used in production 100 Standard quantity for units produced 80 Actual labor rate per hour $16 Standard labor rate per hour $14 Actual hours 200 Standard hours for units produced 230 Compute the material price and quantity, and the labor rate and efficiency variances. Round your answers to two decimal places. Enter all amounts as positive numbers. Material price variance Material quantity variance Labor rate variance $ Labor efficiency variance $ Favorable UnfavorableBellingham Company produces a product that requires 2.5 standard pounds per unit. The standard price is $3.65 per pound. 15,100 units used 36,400 pounds, which were purchased at $3.85 per pound. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet What is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Round your answers to the nearest dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct materials price variance b. Direct materials quantity variance c. Direct materials cost variance $ $ $Acme Inc. has the following information available: Actual price paid for material $1.00 Standard price for material $1.10 Actual quantity purchased and used in production 100 Standard quantity for units produced 130 Actual labor rate per hour $15 Standard labor rate per hour $17 Actual hours 210 Standard hours for units produced 230 A. Compute the material price and quantity, and the labor rate and efficiency variances. Enter all amounts as positive numbers. Material price variance $fill in the blank 1 Material quantity variance $fill in the blank 3 Labor rate variance $fill in the blank 5 Labor efficiency variance $fill in the blank 7 B. What are some possible causes for this combination of favorable and unfavorable variances?
- Zillow Inc. has the following data related to direct materials costs for the current month: actual cost for 7,000 pounds of material at $2.50 per pound and standard cost for 6,700 pounds of material at $3.20 per pound. What is the direct materials quantity or efficiency variance? Group of answer choices -$4,900 favorable $4,900 unfavorable $960 unfavorable -$960 favorableAcme Inc. has the following information available: Actual price paid for material $0.900 Standard price for material $0.625 Actual quantity purchased and used in production 90 Standard quantity for units produced 60 Actual labor rate per hour $16 Standard labor rate per hour $14 Actual hours 210 Standard hours for units produced 220 Compute the material price and quantity, and the labor rate and efficiency variances. Round your answers to two decimal places. Enter all amounts as positive numbers. Material price variance $fill in the blank 1 Material quantity variance $fill in the blank 3 Labor rate variance $fill in the blank 5 Labor efficiency variance $fill in the blank 7A company has determined that the standard for materials is 10 square feet at $4 per square foot. If a process produces 2000 units and uses 18 square feet per unit at $5 per square foot, then what is the materials quantity variance? Select one a $ 64,000 unfavorable b) $64, 000 favorable c) $18,000 unfavorable d) $ 18,000 favorable
- Woody Company produces a product that requires 2 standard gallons per unit. The standard price is $20 per gallon. If 4,000 units required 8,200 gallons which were purchased at $19.75 per gallon, what is the direct materials: A. price variance B. quantity variance C. cost varianceRequired information Use the following information for the Quick Study below. (Algo) (The following information applies to the questions displayed below] BatCo makes baseball bats. Each bat requires 1.00 pounds of wood at $18 per pound and 0.25 direct labor hour at $20 per hour, Overhead is assigned at the rate of $40 per direct labor hour. QS 21-6 (Algo) Total Cost variances LO P2 Assume the actual cost to manufacture 130 bats is $4,940.00. Compute the total cost variance and identify it as favorable or unfavorable. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Actual cost Budgeted standard cost Total cost varianceAcme Inc. has the following information available: Actual price paid for material $0.90 Standard price for material $1.00 Actual quantity purchased and used in production 90 Standard quantity for units produced 100 Actual labor rate per hour $14 Standard labor rate per hour $16 Actual hours 190 Standard hours for units produced 220 A. Compute the material price and quantity, and the labor rate and efficiency variances. Enter all amounts as positive numbers. Material price variance $fill in the blank 1 Material quantity variance $fill in the blank 3 Labor rate variance $fill in the blank 5 Labor efficiency variance $fill in the blank 7