For each of the following independent cases, fill in the missing amounts in the table: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Direct Labor Rate Direct Labor Efficiency Direct Labor Spending Case Variance Variance Variance A 850 U 1,400 F в $ 1,900 F 3,300 U 1,100 F 2,000 F 2,700 U 600 U 1,200 F 2,050 U 750 U 1,250 U 24 %24 ш
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For each of the following independent cases, fill in the missing amounts in the table: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).
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- 1.What is the labor rate variance ( indicate the effect of each variance by selecting "f" for favorable, U for unfavorable, and None for no effect and round your final answer to the nearest whole number) 2. What is the variable overhead efficiency variance ? ( indicate the effect of each variance by selecting "f" for favorable, U for unfavorable, and None for no effect and round your final answer to the nearest whole number) 3. what is the variable overhead rate variance?Which of the following equations can be used to compute a labor rate variance (where AH = actual hours; SH = standard hours allowed; AR = actual rate; SR = standard rate)? Multiple Choice [SH x (AR – SR)] [AH - (AR – SR)] [AH x (AR – SR)] [SH - (AR – SR)]Determine whether conditions are favorable or unfavorable. 1. Material purchase price variance (MPPV)2. Material price usage variance (MPUV)3. Material quantity variance (MQV)4. Labor rate variance (LRV)5. Labor efficiency variance (LEV)6. Variable overhead (VOH) rate variance7. VOH efficiency variance8. Fixed overhead (FOH) spending variance9. FOH volume variance
- Compute for the following and indicate if its FAVORABLE or UNFAVORABLE Format: 11,111 F or 11,111 U 1. Cost price variance = 2. Cost volume variance= 3. Total gross profit variance=Compute for the variances of the problem using the information given. Answer the numbers only up to two decimal places. A. Compute for Labor Efficiency Variance B. Compute for Labor Spending Variance C. Compute for Labor Rate Variance1.) what is the spending variance for wages and salaries? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect) 2. What is spending variance for total expenses ? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect)
- Required information [The following information applies to the questions displayed below.] Antuan Company set the following standard costs per unit for its product. Direct materials (3.0 pounds @ $4.00 per pound) Direct labor (1.8 hours @ $12.00 per hour) $ 12.00 21.60 33.30 Overhead (1.8 hours @ $18.50 per hour) Standard cost per unit $ 66.90 The standard overhead rate ($18.50 per direct labor hour) is based on a predicted activity level of 75% of the factory's capacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the 75% capacity level. Overhead Budget (75% Capacity) Variable overhead costs Indirect materials $ 15,000 Indirect labor 75,000 Power 15,000 Maintenance 30,000 135,000 Total variable overhead costs Fixed overhead costs Depreciation-Building 24,000 70,000 Depreciation-Machinery Taxes and insurance 16,000 Supervisory salaries 254,500 Total fixed overhead costs 364,500c. What is spending variance for wages and salaries? Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). The amount of the spending variance for wages and salaries d. What is spending variance for total expenses? Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). The amount of the spending variance for total expensesFind the missing values and label F/U Direct Labor Direct Labor Direct Labor Rate Variance Efficiency Variance Spending Variance A.$ 1500 U $2700 F ? B.$ 1250 F ? $2000 U C.$ 1750 F ? $3300 F D. ? $ 1250 U $4000 U E. ? $ 1850 F $ 2700 F.$1400 U $1900 U ?
- For each of the following independent cases, fill in the missing amounts in the table: Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Case A B C D E F Direct Labor Rate Direct Labor Efficiency Direct Labor Spending Variance Variance Variance $ $ SA 1,450 U 1,300 F 1,700 F U U 1,350 U $ $ GA 2,600 F U 1,200 U 1,800 F 1,850 U $ $ $ GA IF 2,100 U 3,200 F 3,900 U 2,650 U UAntuan Company set the following standard costs per unit for its product. Direct materials (6 pounds @ $5 per pound) $ 30 Direct labor (2 hours @ $17 per hour) 34 Overhead (2 hours @ $18.50 per hour) 37 Standard cost per unit $ 101 The standard overhead rate ($18.50 per direct labor hour) is based on a predicted activity level of 75% of the factory's capacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the 75% capacity level. Overhead Budget (75% Capacity) Variable overhead costs $ 45,000 Indirect materials Indirect labor 180,000 Power 45,000 Maintenance 90,000 costs 360,000 Total var ble ove Fixed overhead costs. 24,000 80,000 Depreciation-Building Depreciation-Machinery Taxes and insurance Supervisory salaries. 12,000 79,000 Total fixed overhead costs 195,000 Total overhead costs $ 555,000 The company incurred the following actual costs when it operated at 75% of capacity in October. Direct materials (91,000 pounds @ $5.10 per pound) $…Reed Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures. Direct materials (15 lbs. @ $3 per lb.) Direct labor (3 hrs. @ $14 per hr.) $45 42 During June the company incurred the following actual costs to produce 8,500 units. Direct materials (130,300 lbs. @ $2.80 per lb.) Direct labor (30,500 hrs. @ $14.20 per hr.). $364,840 433,100 AH = Actual Hours %3D SH = Standard Hours AR = Actual Rate SR = Standard Rate AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price (1) Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) (2) Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute…