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(a) Compute all of the materials and labor variances. Total materials variance Materials price variance Materials quantity variance Total labor variance Labor price variance Labor quantity variance (b) $ VA Total overhead variance $ $ LA LA $ LA LA Compute the total overhead variance. -1688 Unfavorable Unfavorable < < >

(a) Compute all of the materials and labor variances. Total materials variance Materials price variance Materials quantity variance Total labor variance Labor price variance Labor quantity variance (b) $ VA Total overhead variance $ $ LA LA $ LA LA Compute the total overhead variance. -1688 Unfavorable Unfavorable < < >

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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(a) Compute all of the materials and labor variances. Total materials variance Materials price variance Materials quantity variance Total labor variance Labor price variance Labor quantity variance (b) tA LA Total overhead variance $ $ LA $ LA $ LA $ $ LA LA Compute the total overhead variance. $ -1688 Unfavorable Unfavorable > > < < <
Transcribed Image Text:(a) Compute all of the materials and labor variances. Total materials variance Materials price variance Materials quantity variance Total labor variance Labor price variance Labor quantity variance (b) tA LA Total overhead variance $ $ LA $ LA $ LA $ $ LA LA Compute the total overhead variance. $ -1688 Unfavorable Unfavorable > > < < <
Current Attempt in Progress Rogen Corporation manufactures a single product. The standard cost per unit of product is shown below. Direct materials-1 pound plastic at $6.00 per pound Direct labor-2.0 hours at $11.90 per hour Variable manufacturing overhead Fixed manufacturing overhead Total standard cost per unit Direct materials (4,240 pounds) Direct labor (8,030 hours) Variable overhead Fixed overhead Total manufacturing costs $ 26,288 The predetermined manufacturing overhead rate is $16.00 per direct labor hour ($32.00 +2.0). It was computed from a master manufacturing overhead budget based on normal production of 10,400 direct labor hours (5,200 units) for the month. The master budget showed total variable costs of $62,400 ($6.00 per hour) and total fixed overhead costs of $104,000 ($10.00 per hour). Actual costs for October in producing 4,100 units were as follows. 97,163 99,710 33,390 $6.00 $256,551 23.80 12.00 20.00 $61.80
Transcribed Image Text:Current Attempt in Progress Rogen Corporation manufactures a single product. The standard cost per unit of product is shown below. Direct materials-1 pound plastic at $6.00 per pound Direct labor-2.0 hours at $11.90 per hour Variable manufacturing overhead Fixed manufacturing overhead Total standard cost per unit Direct materials (4,240 pounds) Direct labor (8,030 hours) Variable overhead Fixed overhead Total manufacturing costs $ 26,288 The predetermined manufacturing overhead rate is $16.00 per direct labor hour ($32.00 +2.0). It was computed from a master manufacturing overhead budget based on normal production of 10,400 direct labor hours (5,200 units) for the month. The master budget showed total variable costs of $62,400 ($6.00 per hour) and total fixed overhead costs of $104,000 ($10.00 per hour). Actual costs for October in producing 4,100 units were as follows. 97,163 99,710 33,390 $6.00 $256,551 23.80 12.00 20.00 $61.80
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