omework Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below.] Trini Company set the following standard costs per unit for its single product Direct materials (30 pounds @ $5.00 per pound) Direct labor (7 hours @ $14 per hour) Variable overhead (7 hours @ $7 per hour) Fixed overhead (7 hours @ $9 per hour) Standard cost per unit Production (in units) Standard direct labor hours (7 DLH per unit) Budgeted overhead (flexible budget) Fixed overhead Variable overhead Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level of 80% of the company's capacity of 51,000 units per quarter. The following additional information is available. $ 150.00 98.00 49.00 63.00 $360.00 70% 35,700 249,900 $ 2,570,400 $ 1,749,300 Direct materials (1,377,000 pounds @ $5.00 per pound) Direct labor (321,300 hours @ $14 per hour) Overhead (321,300 hours @ $16 per hour) Standard (budgeted) cost Actual costs incurred during the current quarter follow. Direct materials (1,358,000 pounds @ $7.80 per pound) Direct labor (317,300 hours @ $11.00 per hour) Fixed overhead Variable overhead Actual cost Operating Levels 80% 40,800 285,600 $ 2,570,400 $ 1,999,200 Saved During the current quarter, the company operated at 90% of capacity and produced 45,900 units; actual direct labor totaled 317,300 hours. Units produced were assigned the following standard costs. $6,885,000 4,498,200 5,140,800 $ 16,524,000 $ 10,592,400 3,490,300 2,448,500 2,292,300 $ 18,823,500 90% 45,900 321,300 $ 2,570,400 $ 2,249,100
omework Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below.] Trini Company set the following standard costs per unit for its single product Direct materials (30 pounds @ $5.00 per pound) Direct labor (7 hours @ $14 per hour) Variable overhead (7 hours @ $7 per hour) Fixed overhead (7 hours @ $9 per hour) Standard cost per unit Production (in units) Standard direct labor hours (7 DLH per unit) Budgeted overhead (flexible budget) Fixed overhead Variable overhead Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level of 80% of the company's capacity of 51,000 units per quarter. The following additional information is available. $ 150.00 98.00 49.00 63.00 $360.00 70% 35,700 249,900 $ 2,570,400 $ 1,749,300 Direct materials (1,377,000 pounds @ $5.00 per pound) Direct labor (321,300 hours @ $14 per hour) Overhead (321,300 hours @ $16 per hour) Standard (budgeted) cost Actual costs incurred during the current quarter follow. Direct materials (1,358,000 pounds @ $7.80 per pound) Direct labor (317,300 hours @ $11.00 per hour) Fixed overhead Variable overhead Actual cost Operating Levels 80% 40,800 285,600 $ 2,570,400 $ 1,999,200 Saved During the current quarter, the company operated at 90% of capacity and produced 45,900 units; actual direct labor totaled 317,300 hours. Units produced were assigned the following standard costs. $6,885,000 4,498,200 5,140,800 $ 16,524,000 $ 10,592,400 3,490,300 2,448,500 2,292,300 $ 18,823,500 90% 45,900 321,300 $ 2,570,400 $ 2,249,100
Chapter5: Process Costing
Section: Chapter Questions
Problem 2PB: The following product costs are available for Kellee Company on the production of eyeglass frames:...
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Question
Question 6 Required part 2
![Homework i
Use the following information for the Problems below. (Algo)
[The following information applies to the questions displayed below.]
Trini Company set the following standard costs per unit for its single product
Direct materials (30 pounds @ $5.00 per pound)
Direct labor (7 hours @ $14 per hour)
Variable overhead (7 hours @ $7 per hour)
Fixed overhead (7 hours @ $9 per hour)
Standard cost per unit
Production
units)
Standard direct labor hours (7 DLH per unit)
Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level of 80% of
the company's capacity of 51,000 units per quarter. The following additional information is available.
Operating Levels
80%
40,800
285,600
Budgeted overhead (flexible budget)
Fixed overhead
Variable overhead
$ 150.00
98.00
49.00
63.00
$360.00
70%
35,700
249,900
$ 2,570,400
$ 2,570,400
$ 1,749,300 $ 1,999, 200
Direct materials (1,377,000 pounds @ $5.00 per pound)
Direct labor (321,300 hours @ $14 per hour)
Overhead (321,300 hours @ $16 per hour)
Standard (budgeted) cost
Actual costs incurred during the current quarter follow.
Direct materials (1,358,000 pounds @ $7.80 per pound)
Direct labor (317,300 hours @ $11.00 per hour)
Fixed overhead
Variable overhead
Actual cost
Saved
During the current quarter, the company operated at 90% of capacity and produced 45,900 units; actual direct labor
totaled 317,300 hours. Units produced were assigned the following standard costs.
$6,885,000
4,498, 200
5,140,800
$ 16,524,000
$ 10,592,400
3,490,300
2,448,500
2,292,300
$ 18,823,500
90%
45,900
321,300
$ 2,570,400
$ 2,249,100](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F468d466a-1ef2-472e-8df7-1896f4b1af0e%2Fa7bcdfb3-a346-49a0-b4c6-795fa2cddf4a%2Fgje8pzl_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Homework i
Use the following information for the Problems below. (Algo)
[The following information applies to the questions displayed below.]
Trini Company set the following standard costs per unit for its single product
Direct materials (30 pounds @ $5.00 per pound)
Direct labor (7 hours @ $14 per hour)
Variable overhead (7 hours @ $7 per hour)
Fixed overhead (7 hours @ $9 per hour)
Standard cost per unit
Production
units)
Standard direct labor hours (7 DLH per unit)
Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level of 80% of
the company's capacity of 51,000 units per quarter. The following additional information is available.
Operating Levels
80%
40,800
285,600
Budgeted overhead (flexible budget)
Fixed overhead
Variable overhead
$ 150.00
98.00
49.00
63.00
$360.00
70%
35,700
249,900
$ 2,570,400
$ 2,570,400
$ 1,749,300 $ 1,999, 200
Direct materials (1,377,000 pounds @ $5.00 per pound)
Direct labor (321,300 hours @ $14 per hour)
Overhead (321,300 hours @ $16 per hour)
Standard (budgeted) cost
Actual costs incurred during the current quarter follow.
Direct materials (1,358,000 pounds @ $7.80 per pound)
Direct labor (317,300 hours @ $11.00 per hour)
Fixed overhead
Variable overhead
Actual cost
Saved
During the current quarter, the company operated at 90% of capacity and produced 45,900 units; actual direct labor
totaled 317,300 hours. Units produced were assigned the following standard costs.
$6,885,000
4,498, 200
5,140,800
$ 16,524,000
$ 10,592,400
3,490,300
2,448,500
2,292,300
$ 18,823,500
90%
45,900
321,300
$ 2,570,400
$ 2,249,100
Transcribed Image Text:zto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%25...
serica AS...
ork i
2/AmAuto the direct lahor variance including ite rato and otticione variancos
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Complete this question by entering your answers in the tabs below.
Req 1
Req 2
Req 3
Controllable Req 3 Volume
Variance
Variance
Compute the direct labor variance, including its rate and efficiency variances.
Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.
Actual Cost
$
0
$
0
0
< Req 1
Saved
< Prev
mino
#
$
Req 3 Controllable Variance
6 of 6
HH
HH
0
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Standard Cost
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