Compuțing standard cost variances and reporting to management SoundSmart manufactures headphone cases. During September 2020, the company produced 108,000 cases and recorded the following cost data: Standard Cost Information Quantity Cost Direct Materials 2 parts $ 0.16 per part Direct Labor 0.02 hours 7.00 per hour Variable Manufacturing Overhead 0.02 hours 11.00 per hour Fixed Manufacturing Overhead ($29,400 for static budget volume of 98,000 units and 1,960 hours, or $15 per hour) Actual Information Direct Materials (193,000 parts @ $0.21 per part) $ 40,530 Direct Labor (1,760 hours @ $7.15 per hour) 12,584 Variable Manufacturing Overhead 12,000 Fixed Manufacturing Overhead 30,000 Requirements 1 Compute the cost and efficiency variances for direct materials and direct labor. 2 For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances. 3 SoundSmart's management used better quality materials during September. Discuss the trade-off between the two direct material variances.

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Pittman Framing's cost formula for its supplies cost is $1,040 per month plus $14 per frame. For the month of November, the company planned for activity of 614 frames, but the actual level of activity was 604 frames. The actual supplies cost for the month was $9,200. The spending variance for supplies cost in November would be closest to: Multiple Choice О $296 F о О $296 U $436 F $436 U

Zizi plc uses a standard absorption costing system and produces and sells product 8W. The standard cost card is below: Product 8W (€ per unit) Direct material (5 per kg) 15 Direct labour (6 per hour) 12 Fixed manufacturing overhead 10 Total production cost 37 Standard profit 13 Standard selling price 50 * Absorption rate based on standard labour hours Budgeted and actual production and sales units for december 2020 were as follows: Budget Actual Production 1,100 900 Sales   1,000 800 Actual data for December 2020 were as follows     € Direct material purchases 1,200 kgs costing 12,000 Direct materials used 1,100 kgs   Direct labour hours 500 hours costing 6,000 Fixed manufacturing overhead   5,000 Sales revenue   30,000 An analysis of the Direct labour hours shows that the 500 hours that were paid for 50 were idle time due to a machinery breakdown. There were no inventories of Direct materials or finished products (planned or actual) at the…

The following data get out from Samsung industrial company: Direct materials costs JD 75 Direct manufacturing labor costs 20 Variable manufacturing overhead costs 15 Fixed overhead costs 28 Each TV need to 0.75 hour, and each hour by JD 31.5. The number of units manufactured is the cost driver for direct materials, direct manufacturing labor, and variable manufacturing overhead. The relevant range for the cost driver is from 0 to 6,000 TV. Budgeted and actual data for November 2019 are: Budgeted fixed costs for production JD 141, 750 Budgeted selling price JD 138 per unit Actual selling price 152.75 per unit Revenue at budgeted…

Opal Manufacturing Company established the following standard price and cost information: Sales price $70 per unit 52 per unit Variable manufacturing cost Fixed manufacturing cost $ 120,000 total $50,000 total Fixed selling and administrative cost Opal expected to produce and sell 29,000 units. Actual production and sales amounted to 32,500 units. Required: a. and b. Determine the sales volume variances, including variances for number of units, sales revenue, variable manufacturing cost, fixed manufacturing cost, and fixed selling and administrative cost. Classify the variances as favorable (F) or unfavorable (U). Note: Indicate the effect of each variance by selecting "Favorable", "Unfavorable", and "None" for no effect (i.e., zero variance). Units Static Budget Flexible Budget Volume Variance Favorable or Unfavorable