Maggie Sound manufactures headphone cases. During July 2021, the company produced 107,000 cases and recorded the following cost data: Standard Cost Information Quantity Cost Direct Materials 3 parts $0.18 per part Direct Labor 0.02 hours $7.85 per hour Variable Manufacturing Overhead 0.02 hours $9.05 per hour Fixed Manufacturing Overhead 1,970 hours $17.30 per hour Actual Cost Information Quantity Cost Direct Materials 201,000 parts $0.21 per part Direct Labor 1,590 hours $8.20 per hour Variable Manufacturing Overhead $8,900 total cost Fixed Manufacturing Overhead $27,900 total cost (Round your answers to two decimal places when needed and use rounded answers for all future calculations). 1. Calculate the variable overhead cost and efficiency variances.

Maggie Sound manufactures headphone cases. During July 2021, the company produced 107,000 cases and recorded the following cost data: Standard Cost Information Quantity Cost Direct Materials 3 parts $0.18 per part Direct Labor 0.02 hours $7.85 per hour Variable Manufacturing Overhead 0.02 hours $9.05 per hour Fixed Manufacturing Overhead 1,970 hours $17.30 per hour Actual Cost Information Quantity Cost Direct Materials 201,000 parts $0.21 per part Direct Labor 1,590 hours $8.20 per hour Variable Manufacturing Overhead $8,900 total cost Fixed Manufacturing Overhead $27,900 total cost (Round your answers to two decimal places when needed and use rounded answers for all future calculations). 1. Calculate the variable overhead cost and efficiency variances.

Name: Maggie Sound manufactures headphone cases. During July 2021, the compa
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Description: Maggie Sound manufactures headphone cases. During July 2021, the company produced 107,000 cases and recorded the following cost data:Standard Cost InformationQuantityCostDirect Materials3 parts$0.18 per partDirect Labor0.02 hours$7.85 per hourVariabl

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 17MC: When is the direct labor time variance unfavorable? A. when the actual quantity used is greater than...

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Standard Cost Information	Quantity	Cost
Direct Materials	3 parts	$0.18 per part
Direct Labor	0.02 hours	$7.85 per hour
Variable Manufacturing Overhead	0.02 hours	$9.05 per hour
Fixed Manufacturing Overhead	1,970 hours	$17.30 per hour

Actual Cost Information	Quantity	Cost
Direct Materials	201,000 parts	$0.21 per part
Direct Labor	1,590 hours	$8.20 per hour
Variable Manufacturing Overhead		$8,900 total cost
Fixed Manufacturing Overhead		$27,900 total cost

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