5. Chung-Ang Company is a manufacturing firm that provided the following information:Units producedDirect MaterialsDirect LaborVariable Manufacturing OverheadFixed Manufacturing OverheadActual Result4,0004,000 x 11Kg x $7 = $308,0004,000 x 1.5h x $10.5 = $63,000$240,000 (4,000 x 1.5h x $40)$470,000Planning Budget4,5004,500 x 10kg x $8 = $360,00045,000 x 1h x 10$=45,000$225,000 (45,000 x 1h x 50$)$450,0005-1) Compute the materials price and quantity variances.5-2) Compute the labor rate and efficiency variances.5-3) Compute the variable manufacturing overhead rate and efficiency variances.5-4) Compute the fixed manufacturing overhead budget variances.

Name: 5. Chung-Ang Company is a manufacturing firm that provided the follow
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Description: 5. Chung-Ang Company is a manufacturing firm that provided the following information:Units producedDirect MaterialsDirect LaborVariable Manufacturing OverheadFixed Manufacturing OverheadActual Result4,0004,000 x 11Kg x $7 = $308,0004,000 x 1.5h x $1

Material Variance - This represents the discrepancy between the actual cost of direct materials and…

Business

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Chung-Ang Company is a manufacturing firm that provided the following information: Units produced Direct Materials Direct Labor Variable Manufacturing Overhead Fixed Manufacturing Overhead Actual Result 4,000 4,000 x 11kg x $7 = $308,000 4,000 x 1.5hx $10.5 = $63,000 $240,000 (4,000 x 1.5h x $40) $470,000 Planning Budget 4,500 x 10kg x $8= $360, 45,000 x 1h x 10$ 45, $225,000 (45,000 x 1hx5 $450,

Chung-Ang Company is a manufacturing firm that provided the following information: Units produced Direct Materials Direct Labor Variable Manufacturing Overhead Fixed Manufacturing Overhead Actual Result 4,000 4,000 x 11kg x $7 = $308,000 4,000 x 1.5hx $10.5 = $63,000 $240,000 (4,000 x 1.5h x $40) $470,000 Planning Budget 4,500 x 10kg x $8= $360, 45,000 x 1h x 10$ 45, $225,000 (45,000 x 1hx5 $450,

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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