Lucia Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (16 pounds @ $4 per pound) Direct labor (3 hours @ $15 per hour) $ 64 45 During May the company incurred the following actual costs to produce 8,500 units. Direct materials (138,800 pounds @ $3.80 per pound) Direct labor (30,000 hours @ $15.10 per hour) $527,440 453,000 AR Actual Rate SR Standard Rate AQ Actual Quantity SQ Standard Quantity AP Actual Price SP Standard Price AH Actual Hours SH Standard Hours (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance.

Doogan Corporation makes a product with the following standard costs: Standard Quantity or Standard Price or Hours Rate Direct materials Direct labor Variable overhead 9.0 grams e.4 hours $ 3.60 per gram $36.00 per hour $ 8.60 per hour e.4 hours The company produced 6,800 units in January using 40.910 grams of direct material and 2.540 direct labor-hours. During the month, the company purchased 46,000 grams of the direct material at $3.30 per gram. The actual direct labor rate was $35.30 per hour and the actual varlable overhead rate was $8.40 per hour. The company applies varlable overhead on the basis of direct labor-hours. The direct materials purchases varlance is computed when the materials are purchased. The varlable overhead rate varlance for January is:

gue Corporation uses a standard cost system. The following information was provided for the period that just ended: Actual price per kilogram $3.00 Actual kilograms of material used 31,000 Actual hourly labor rate $18.20 Actual hours of production 4,900 labor hours Standard price per kilogram $2.80 Standard kilograms per completed unit 6 kilograms Standard hourly labor rate $18.00 Standard time per completed unit 1 hr. Actual total factory overhead $34,900 Actual fixed factory overhead $18,000 Standard fixed factory overhead rate $1.20 per labor hour Standard variable factory overhead rate $3.80 per labor hour Maximum plant capacity 15,000 hours Units completed during the period 5,000 The direct labor cost variance is _____.

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A company's standard cost system requires 7,000 direct labor hours per month jg. qtler taproduce 3,500 units of handbags. The management has set 2 standard of using 4.3 yards of direct materials per unit of handbag. Information regarding standard costs is mentioned below: Particulars Total standard direct materials cost Total standard direct labor cost Total standard variable manufacturing overhead (based on direct labor-hours) Amount $54,250 $42,000 $18,200 During November, the company produced 3,600 wits of handbags using 6 960 direct labor hours. Actual cots recordad isthe month of Novemb are ss allows:

Sedona Company set the following standard costs for one unit of its product for this year. Direct material (15 pounds $3.40 per pound) Direct labor (10 hours e S9.70 per DLH) Veriable overhead (10 hours $4.90 per DLH) Fied overhead (10 hours $2. 00 per DLH) Standard cost per unit $ 51.00 97.00 49.00 20.00 $ 217.00 The $6.90 ($4.90 - $2.00) total overhead rate per direct labor hour (DLH) is based on a predicted activity level of 41,300 units, which is 70% of the factory's capacity of 59,000 units per month. The following monthly flexible budget information Is avallable. Operat ing Levels (K of capacity) 65% 30, 350 383,500 Flexible Budget Budgeted production (units) Rudgeted direct labor (standard hours) Budgeted overhead Varlable overhead Fised overhead Total avertead 41, 300 413,000 75% 44, 250 442, 500 $1,879,150 826,000 $ 2,023, 700 826, 000 $ 2,849, 700 $2,168, 250 126, e00 $ 2,994, 250 $ 2,705, 150 During the current month, the company operated at 65% of capacity, direct labor of…

2. Blue Hose Company employees a standard cost system for product costing. The standard cost of the product is the following: Raw Materials         2 lbs per unit at $6 per lbLabor         4 hours per unit at $12 per hour Actual direct material cost was $418,000 for 76,000 lbs of material used to manufacture 30,400 units in November. All materials purchased were used in November. Workers were paid $1,510,000 for 125,000 hours of work. Compute the price/rate, quantity/efficiency and flexible spending variances for direct materials and direct labor. Please label all variances. For the price and quantity/efficiency variances, explain what happened and then give a possible explanation as to why it happened. Please Answer With A Step By Step Solution

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The following data relates to Potawatomi Corporation's operations for the month. Potawatomi produced 8,500 units and the normal monthly capacity is 20,000 direct labor hours. Direct Material: Standard (5 lbs. @ $2.10/lb.) Actual (39,000 lbs. @ $2.20/lb.) Standard Unit Costs Total Actual Costs $10.50 $85,800 Direct Labor: Standard (2 hrs. @ $12/hr.) $24.00 Actual (18,000 hrs. @ $11.90/hr.) $214,200 Variable Overhead: Standard (2 hrs. @ $4.00/hr.) $8.00 Actual $69,700 Total $42.50 $369,700 Use fork diagrams to calculate the following variances: b. Materials efficiency variance a. Materials price variance C. Labor rate variance e. Variable overhead spending variance f. Variable overhead efficiency variance d. Labor efficiency variance

Max Company has developed the following standards for one of its products: Direct materials 15 pounds ´ £16 per poundDirect labour 4 hours ´ £24 per hourVariable overhead 4 hours ´ £14 per hour The following activities occurred during the month of October: Materials purchased  10,000 pounds costing £170,000Materials used   7,200 poundsUnits produced     500 unitsDirect labour   2,300 hours at £23.60 per hourActual variable overhead £30,000 The company records materials price variances at the time of purchase. Refer to Figure 17-1. Max's variable standard cost per unit would be