Majer Corporation makes a product with the following standard costs:     Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials   6.3 ounces $ 4.00 per ounce $ 25.20 Direct labor   0.9 hours $ 14.00 per hour $ 12.60 Variable overhead   0.9 hours $ 4.00 per hour $ 3.60     The company reported the following results concerning this product in February.           Originally budgeted output   5,200 units Actual output   5,900 units Raw materials used in production   33,300 ounces Actual direct labor-hours   2,050 hours Purchases of raw materials   33,800 ounces Actual price of raw materials $ 37.10 per ounce Actual direct labor rate $ 27.60 per hour Actual variable overhead rate $ 5.50 per hour     The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.   The variable overhead efficiency variance for February is: rev: 08_11_2020_QC_CS-222889   Multiple Choice   $13,040 U   $12,990 F   $13,040 F   $12,990 U

Miguez Corporation makes a product with the following standard costs:     Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 2.3 liters $ 7.00 per liter $ 16.10 Direct labor 0.7 hours $ 22.00 per hour $ 15.40 Variable overhead 0.7 hours $ 2.00 per hour $ 1.40   The company budgeted for production of 2,600 units in September, but actual production was 2,500 units. The company used 5,440 liters of direct material and 1,680 direct labor-hours to produce this output. The company purchased 5,800 liters of the direct material at $7.20 per liter. The actual direct labor rate was $24.10 per hour and the actual variable overhead rate was $1.90 per hour.   The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.   The labor rate variance for September is:   Multiple Choice   $3,675 F   $3,528 U   $3,528 F   $3,675 U

Robinwood Fixtures manufactures two products, K4 and X7. The company prepares its master budget on the basis of standard costs. The following data are for September: Standards Direct materials Direct labor Variable overhead (per direct labor- $ 22.60 hour) Fixed overhead (per month) Expected activity (direct labor-hours) Actual resulta Direct material (purchased and used) Direct labor Variable overhead Fixed overhead Units produced (actual) pounds at 0.75 $9.40 per pound hours at 1.25 $27.40 per hour K4 $ 418,080 17,420 pounds at 11,000 $8.80 per pound hours at 14,870 $27.70 per hour $ 359,060 $ 393,740 12,340 units X7 pound at 1 $10.00 per pound 1.50 $24.40 $ 494,970 23,570 hours at $30 per hour pounds at 14,270 $10.30 per pound hours at 22,370 $34.00 per hour $ 471,212 $ 491,960 14,570 units Required: a. Prepare a variance analysis for each variable cost for each product. b. Prepare a fixed overhead variance analysis for each product. Note: For all requirements, Do not round…

At the beginning of October, Nelson Inc. detemined the following for a particular product: Standard Quantity of material per unit produced 10.0 lbs. Standard Price of material 2.00 per lb. Budgeted Units to be produced 6,000 units The following data pertain to operations concerning the product for October: Actual Cost of materials purchased Beginning Materials Inventory Ending Materials Inventory 150,000 1,500 Ibs. 2,500 lbs. Actual Units Produced 8.000 units Materials Purchase Price Variance $ 15.000 Favorable 17 What was the Materials Quantity Variance for October? $3,000 Unfavorable A. $5,000 Unfavorable $15,000 Unfavorable В. C. D. $27,000 Favorable Е. None of the above

Stafford Company prepared a static budget for a production and sales volume of 11,200 units. Per unit Static standards Budget Number of units 11,200 Sales revenue $77.00 $862,400 Variable manufacturing costs: Materials $18.00 201,600 Labor $14.00 156,800 Overhead $ 5.40 60,480 Variable general, selling, and administrative costs Contribution margin $18.00 201,600 $241,920 Fixed costs Manufacturing overhead 112,800 General, selling, and administrative costs 57,000 Net income $ 72,120 What is the net income if 10,200 units are sold? Multiple Choice $71,995 $72,478 $64,268 $50,520

The following data are given for Stringer Company: Line Item Description Value Budgeted production 940 units Actual production   1,045 units Materials:       Standard price per ounce $1.78     Standard ounces per completed unit 11     Actual ounces purchased and used in production 11,840     Actual price paid for materials $24,272 Labor:       Standard hourly labor rate $14.00 per hour     Standard hours allowed per completed unit 4.4     Actual labor hours worked 5,381.75     Actual total labor costs $82,072 Overhead:       Actual and budgeted fixed overhead $1,099,000     Standard variable overhead rate $24.00 per standard labor hour     Actual variable overhead costs $150,689   Overhead is applied on standard labor hours. The direct materials quantity variance is a. 3,196.80 favorable b. 3,196.80 unfavorable c. 614.10 unfavorable d. 614.10 favorable

The following information relates to Modern, Inc.'s overhead costs for the month: Time Runn Attempt due 2 Hours, & Static budget variable overhead $8,000 24/7 Pro Static budget fixed overhead $4,000 Static budget direct labor hours 1,300 R Liv Static budget number of units to be produced 5,000 Modern allocates manufacturing overhead to production based on standard direct labor hours. Last month, Modern reported the following actual results: actual variable overhead $11,000 actual fixed overhead $3,000 actual direct labor hours 1,400 actual number of units produced 7,000 For the month, Modern's variable overhead efficiency variance is (Round your answer to the nearest whole dollar.)

The following information is available for Baxter Manufacturing for April:          Actual machine hours   840   Standard machine hours allowed   900   Denominator activity (machine hours)   1,000   Actual fixed overhead costs $ 3,800   Budgeted fixed overhead costs $ 4,000   Predetermined overhead rate ($1 variable + $4 fixed) $ 5      What is the production volume variance?   Multiple Choice   $300.   $400.   $240.   $200.

The following describes production activities of Mercer Manufacturing for the year.    Actual direct materials used 18,000 lbs. at $4.15 per lb. Actual direct labor used 5,555 hours for a total of $106,656 Actual units produced 30,060   Budgeted standards for each unit produced are 0.50 pound of direct material at $4.10 per pound and 10 minutes of direct labor at $20.20 per hour.AH = Actual HoursSH = Standard HoursAR = Actual RateSR = Standard RateAQ = Actual QuantitySQ = Standard QuantityAP = Actual PriceSP = Standard Price  (1) Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Cost per unit" answers to 2 decimal places.)(2) Compute the direct labor rate and efficiency variances and classify each as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no…

Western Manufacturing produces a single product. The original budget for April was based on expected production of 17,500 units; actual production for April was 16,600 units. The original budget and actual costs incurred for the manufacturing department follow:    Original Budget   Actual Costs Direct materials $ 275,625   $ 270,750 Direct labor   213,500     206,750 Variable overhead   107,625     97,625 Fixed overhead   85,000     86,250 Total $ 681,750   $ 661,375   Required:Prepare an appropriate performance report for the manufacturing department. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)