3 Data 4 Exhibit 10-1: Standard Cost Card Inputs Standard Quantity Standard Price Direct materials 3.0 pounds 2$ 4.00 per pound 0.50 hours 2$ 22.00 per hour Direct labor 0.50 hours 2$ 6.00 per hour 8. Variable manufacturing overhead 10 Actual results: 1,910 units 11 Actual output 2$ 5,929.50 12 Actual variable manufacturing overhead cost Actual Quantity Actual price 13 5,675 pounds $ 4.30 per pound 14 Actual direct materials cost 2$ 22.20 per hour 1,005 hours 15 Actual direct labor cost
3 Data 4 Exhibit 10-1: Standard Cost Card Inputs Standard Quantity Standard Price Direct materials 3.0 pounds 2$ 4.00 per pound 0.50 hours 2$ 22.00 per hour Direct labor 0.50 hours 2$ 6.00 per hour 8. Variable manufacturing overhead 10 Actual results: 1,910 units 11 Actual output 2$ 5,929.50 12 Actual variable manufacturing overhead cost Actual Quantity Actual price 13 5,675 pounds $ 4.30 per pound 14 Actual direct materials cost 2$ 22.20 per hour 1,005 hours 15 Actual direct labor cost
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
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
3. what is the variable overhead rate variance?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education