Huron Company produces a commercial cleaning compound known as Zoom. The direct materials anddirect labor standards for one unit of Zoom are given below:Standard Quantity Standard Price Standardor Hours or Rate CostDirect materials ........... 4.6 pounds $2.50 per pound $11.50Direct labor ................. 0.2 hours $12.00 per hour $2.40During the most recent month, the following activity was recorded:a. Twenty thousand pounds of material were purchased at a cost of $2.35 per pound.b. All of the material purchased was used to produce 4,000 units of Zoom.c. 750 hours of direct labor time were recorded at a total labor cost of $10,425.Required:1. Compute the direct materials price and quantity variances for the month.2. Compute the direct labor rate and efficiency variances for the month.

Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May. Direct materials: Standard: 1.80 feet at $2.20 per foot Actual: 1.75 feet at $2.40 per foot Direct labor: Standard: 0.90 hour at $14.00 per hour Actual: 0.95 hour at $13.40 per hour Variable overhead: Standard: 0.90 hour at $5.00 per hour Actual: 0.95 hour at $4.60 per hour Total cost per unit Excess of actual cost over standard cost per unit Required 1 Standard Cost per Unit $3.96 Required 2 12.60 Required 3 4.50 Complete this question by entering your answers in the tabs below. $ 21.06 1a. Materials price variance 1a. Materials quantity variance 1b. Labor rate variance 1b. Labor efficiency variance 1c. Variable overhead rate variance 1c. Variable overhead efficiency variance The production superintendent was pleased when he saw this report and commented: "This $0.24 excess cost is well within the 5 percent limit management has set for…

Pat Company uses activity-based costing. The company has two products: A and B. The annual production and sales of Product A is 8,000 units and of Product B is 2,000 units. There are three activity cost pools, with estimated total cost and expected activity as follows:   Expected Activity Activity Cost Pool Estimated Cost Product A Product B Total Activity 1…………… $12,000 750 250 1,000 Activity 2…………… $16,000 400 100 500 Activity 3…………… $36,000 2,000 1,000 3,000 The cost per unit of Product B under activity-based costing is closest to:              A.  $10.67.               B. $6.40.               C. $6.00.               D. $9.10.

Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor hours and its standard cost card per unit is as it follows :  Direct materials : 5 pounds at $8.00 per pound..........  $40.00 Direct labor : 2 hour at $14 per hour.............  $28.00 Variable overhead 2 hours at $15 per hour.....  10.00 Total standard cost per unit .............    $ 78.00   The planning budget for March was based on producing and selling 25,000 units. However , during March the company actually produced and sold $30,000 units and incurred the following costs :  a) Purchased 160,000 pounds of raw materials at a cost of $7.50 per pound. All of this material was used in production.  b) Direct laborers worked 55,000 hours at a rate of $15.00 per hour  c) Total variable manufacturing overhead for the month was $280.500. 3) What is the materials price variance for March? 4) What is the materials quantity variance for March?

Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor hours and its standard cost card per unit is as it follows :  Direct materials : 5 pounds at $8.00 per pound..........  $40.00 Direct labor : 2 hour at $14 per hour.............  $28.00 Variable overhead 2 hours at $15 per hour.....  10.00 Total standard cost per unit .............    $ 78.00   The planning budget for March was based on producing and selling 25,000 units. However , during March the company actually produced and sold $30,000 units and incurred the following costs :  a) Purchased 160,000 pounds of raw materials at a cost of $7.50 per pound. All of this material was used in production.  b) Direct laborers worked 55,000 hours at a rate of $15.00 per hour  c) Total variable manufacturing overhead for the month was $280.500.   8) What direct labor cost would be included in the company's flexible budget for March? 9) What is the labor rate variance for…

A -6

Direct materials (resin). . . . . . . . . . . . . . . . . . . . . . . . . . 11 pounds per pot at a cost of $6.00 per pound Direct labor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.0 hours at a cost of $20.00 per hour Standard variable manufacturing overhead rate. . . . . $5.00 per direct labor hour Budgeted fixed manufacturing overhead. . . . . . . . . $24,000 Standard fixed MOH rate. . . . . . . . . . . . . . . . . . . . . . . . . $7.00 per direct labor hour (DLH)

Vitex, Incorporated manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system:   Inputs (1) Standard Quantity or Hours (2) Standard Price or Rate Standard Cost (1) × (2) Direct materials 2.20 pounds $ 16.30 per pound $ 35.86 Direct labor 1.00 hours $ 15.80 per hour $ 15.80 Variable manufacturing overhead 1.00 hours $ 9.50 per hour $ 9.50 Total standard cost per unit         $ 61.16     Total Variances Reported Standard Cost* Price or Rate Quantity or Efficiency Direct materials $ 681,340 $ 12,702 F $ 32,600 U Direct labor $ 300,200 $ 4,000 U $ 15,800 U Variable manufacturing overhead $ 180,500 $ 4,100 F $ ?† U *Applied to Work in Process during the period.   The company's manufacturing overhead cost is applied to production on the basis of direct labor-hours. All of the materials purchased during the period were used in production. Work in process inventories are insignificant and can be…

Henry Company has established the following standards for the costs of one unit of its product. The standard production overhead costs per unit are based on direct-labor hours. Calculation for standard per unit cost is as follows:     Std Cost Std Qty Std Price/Rate Direct Material $ 14.40 6.00 kg $ 2.40/kg Direct Labor $ 3.00 0.40 hour $ 7.50/hour Variable Overhead $ 4.00 0.40 hour $ 10.00/hour Fixed Overhead* $ 4.80 0.40 hour $ 12.00/hour Total $ 26.20       *based on practical capacity of 2,500 direct-labor hour per month During December 2020, Henry purchased 30,000 kg of direct material at a total cost of $75,000. The total wages for December were $20,000, 75% of which were for direct labor. Henry manufactured 4,500 units of product during December 2020, using 28,000kg of the direct material purchased in December and 2,100 direct-labor hours. Actual variable and fixed overhead cost were $23,100 and $25,000, respectively.…

The following information applies to the questions displayed below.]Antuan Company set the following standard costs per unit for its product. Direct materials (5.0 pounds @ $6.00 per pound) $ 30.00 Direct labor (1.9 hours @ $11.00 per hour) 20.90 Overhead (1.9 hours @ $18.50 per hour) 35.15 Standard cost per unit $ 86.05 The standard overhead rate ($18.50 per direct labor hour) is based on a predicted activity level of 75% of the factory’s capacity of 20,000 units per month. Following are the company’s budgeted overhead costs per month at the 75% capacity level. Overhead Budget (75% Capacity) Variable overhead costs   Indirect materials $ 30,000 Indirect labor 75,000 Power 30,000 Maintenance 30,000 Total variable overhead costs 165,000 Fixed overhead costs   Depreciation—Building 24,000 Depreciation—Machinery 70,000 Taxes and insurance 18,000 Supervisory salaries 250,250 Total fixed overhead costs 362,250 Total overhead costs $ 527,250 The…