Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Exercise 21-9 (Algo) Direct materials variances LO P3 Standard Quantity and Cost 6 pounds @ $9 per pound 3 DLH @ $17 per DLH 3 DLH @ $11 per DLH AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP Standard Price Compute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.) Actual Cost Actual Results 45,500 pounds @ $9.20 per pound 22,300 hours @ $17.50 per hour $ 254,300 7,500 units Standard Cost

Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Exercise 21-9 (Algo) Direct materials variances LO P3 Standard Quantity and Cost 6 pounds @ $9 per pound 3 DLH @ $17 per DLH 3 DLH @ $11 per DLH AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP Standard Price Compute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.) Actual Cost Actual Results 45,500 pounds @ $9.20 per pound 22,300 hours @ $17.50 per hour $ 254,300 7,500 units Standard Cost

Name: Required informationUse the following information for the Exercises b
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Required informationUse the following information for the Exercises below. (Algo)[The following information applies to the questions displayed below.]A manufactured product has the following information for June.Direct materialsDirect laborOverheadU

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter9: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 1PB: Direct materials and direct labor variance analysis Lenni Clothing Co. manufactures clothing in a...

See similar textbooks

Similar questions

Refer to Cornerstone Exercise 8.13. In March, Nashler Company produced 163,200 units and had the following actual costs: Required: 1. Prepare a performance report for Nashler Company comparing actual costs with the flexible budget for actual units produced. 2. What if Nashler Companys actual direct materials cost were 1,175,040? How would that affect the variance for direct materials? The total cost variance?
Direct materials, direct labor, and factory overhead cost variance analysis Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 40,000 units of product were as follows: Each unit requires 0.3 hour of direct labor. Instructions Determine (A) the direct materials price variance, direct materials quantity variance, and total direct materials cost variance; (B) the direct labor rate variance, direct labor time variance, and total direct labor cost variance; and (C) the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance.
Direct materials and direct labor variance analysis Lenni Clothing Co. manufactures clothing in a small manufacturing facility. Manufacturing has 25 employees. Each employee presently provides 40 hours of productive labor per week. Information about a production week is as follows: Instructions Determine (A) the standard cost per unit for direct materials and direct labor; (B) the price variance, quantity variance, and total direct materials cost variance; and (C) the rate variance, time variance, and total direct labor cost variance.
Standard direct materials cost per unit from variance data The following data relating to direct materials cost for October of the current year are taken from the records of Good Clean Fun Inc., a manufacturer of organic toys: Determine the standard direct materials cost per unit of finished product, assuming that there was no inventory of work in process at either the beginning or the end of the month.
Use the following information to complete Brief Exercises 10-36 and 10-37: Ambient Inc. produces aluminum cans. Each can has a standard labor requirement of 0.03 hour. During the month of May, 500,000 cans were produced using 14,000 labor hours @ 15.00. The standard wage rate is 14.50 per hour. 10-37 Labor Rate and Efficiency Variances Refer to the information for Ambient Inc. above. Required: Calculate the labor rate and efficiency variances using the columnar and formula approaches.
Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Exercise 21-10 (Algo) Direct labor variances LO P3 Standard Quantity and Cost 6 pounds @ $9 per pound 3 DLH @ $17 per DLH 3 DLH @ $11 per DLH AH = Actual Hours SH = Standard Hours AR Actual Rate SR Standard Rate Actual Cost Actual Results 45,500 pounds @ $9.20 per pound 22,300 hours @ $17.50 per hour $ 254,300 Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) 7,500 units Standard Cost
Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP Standard Price Standard Quantity and Cost 6 pounds @ $8 per pound 3 DLH @ $16 per DLH 3 DLH @ $12 per DLH Compute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.) Actual Cost Actual Results 46,100 pounds @ $8.20 per pound 22,500 hours @ $16.50 per hour $ 278,600 7,600 units Standard Cost
Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured AH = Actual Hours SH Standard Hours AR = Actual Rate SR = Standard Rate Standard Quantity and Cost 6 pounds @ $8 per pound 3 DLH @ $16 per DLH 3 DLH @ $12 per DLH Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) Actual Cost Actual Results 46,100 pounds @ $8.20 per pound 22,500 hours @ $16.50 per hour $ 278,600 7,600 units Standard Cost
[The following information applies to the questions displayed below.] A manufactured product has the following Information for June. Direct materials Direct labor Overhead Units manufactured AQ - Actual Quantity SQ Standard Quantity AP = Actual Price SP = Standard Price Standard Quantity and Cost 7 pounds @ $7 per pound 2 DLH@ $16 per DLH 2 DLH @ $12 per DLH Compute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each varlance by selecting favorable, unfavorable, or no varlance. Round "Cost per unit" answers to 2 decimal places.) Actual Cost Actual Results 58,600 pounds @ $7.20 per pound 16,300 hours@ $16.50 per hour $ 205,500 8,300 units Standard Cost
Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard Quantity and Cost 6 pounds @ $8 per pound 3 DLH @ $16 per DLH 3 DLH @ $12 per DLH Direct materials Direct labor Overhead Units manufactured (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for June production. (3) Compute total actual cost for June production. (4) Compute total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Direct materials Direct labor Overhead Total Required 3 Prepare the standard cost card showing standard cost per unit. $ Required 4 Actual Results 46,100 pounds @ $8.20 per pound 22,500 hours @ $16.50 per hour $ 278,600 7,600 units < Required 1 Required 2
A manufactured product has the following Information for August. Direct materials Direct labor Overhead Standard Quantity and Cost 2 pounds per unit @ ss.ee per pound e.5 hour per unit @ $60 per DLH $78 per DLH Units manufactured Total manufacturing costs (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for production In August. (3) Compute the total cost variance for August. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the standard cost card showing standard cost per unit. Note: Round your final answers to 2 decimal places. Inputs Direct materials Direct labor Overhead Standard quantity or hours pounds x DLH x DLH x Required 1 Required 2 Required 3 Standard price or rate Standard cost per unit Compute total budgeted cost for production in August. Total budgeted cost Required 1 Required 2 Required 3 Actual Results 14,200 units $ 1,203,400 Compute the total cost variance…
A manufactured product has the following information for June. Standard Quantity and Cost 6 pounds $9 per pound i 2 DLH $15 per DLH 2 DLH @ $12 per DLH Direct materials Direct labor Overhead Units manufactured AQ = Actual Quantity SQ Standard Quantity AP = Actual Price SP Standard Price Exercise 21-9 (Algo) Direct materials variances LO P3 Compute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.) Actual Cost $ $ Actual Results 51,500 pounds @ $9.10 per pound 16,700 hours $15.50 per hour 0 0 $ 209,200 8,500 units $ 0 Standard Cost