Standard Costs materials t labor 192,400 lbs. at $5.10 per lb. 18,500 hrs. at $16.90 per hr. Actual Costs 190,500 lbs. at $5.00 per lb. 18,930 hrs. at $17.30 per hr. ry overhead Rates per direct labor hr., based on 100% of normal capacity of 19,310 direct labor hrs.: $67,770 variable cost $111,998 fixed cost Variable cost, $3.70 Fixed cost, $5.80 unit requires 0.25 hour of direct labor. uired: etermine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. ct Materials Price Variance ect Materials Quantity Variance Direct Materials Cost Variance Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. ect Labor Rate Variance ect Labor Time Variance al Direct Labor Cost Variance Determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as

Standard Actual Variable overhead rate $3.35     Fixed overhead rate $1.80     Hours 18,900   17,955* Fixed overhead $46,000     Actual variable overhead   $67,430  Total factory overhead   $101,450  *Actual hours are equal to standard hours for units produced. The fixed factory overhead volume variance is

Identify the semi-variable costs:                                                                          10,000 units              18,000 units Materials                                                           $15,000                     $27,000Labour                                                              $13,000                     $19,400Rent                                                                  $11,500                     $11,500Selling overheads                                               $30,000                     $46,000   Question 2 options:   1)  materials and labour   2)  labour and rent   3)  rent and selling overheads   4)  labour and selling overheads

Cost standards for one unit of product no. C77: $ 7.50 3 pounds at $2.50 per pound 5 hours at $7.50 per hour Direct material Direct labor 37.50 Actual results: Units produced Direct material purchased 26,000 pounds at $2.70 Direct material used 7,800 units 23,100 pounds at $2.70 40,100 hours at $7.30 S 70,200 62,370 292,730 Direct labor A. The direct-material price variance is: B. The direct-material quantity variance is: C. The direct-labor rate variance is: D. The direct-labor efficiency variance is:

S Direct materials (cork board) Direct labor Bullseye Company manufactures dartboards. Its standard cost information follows: Standard Price (Rate) $ 2.30 per sq. ft. $10.00 per hr. Standard Unit Cost Standard Quantity 3.00 sq. ft. 1 hrs. $ 6.90 10.00 Variable manufacturing overhead. (based on direct labor hours) Fixed manufacturing overhead ($58,000+145,000 units) 1 hrs. $ 0.55 per hr. 0.55 0.40 Bullseye has the following actual results for the month of September: Number of units produced and sold Number of square feet of corkboard used Cost of corkboard used Number of labor hours worked Direct labor cost 125,000 390,000 $ 936,000 135,000 $1,228,500 Variable overhead cost Fixed overhead cost $ 71,000 $ 53,000 Required: 1. Calculate the direct materials price, quantity, and total spending variances for Bullseye. 2. Calculate the direct labor rate, efficiency, and total spending variances for Bullseye. 3. Calculate the variable overhead rate, efficiency, and total spending variances for…

Total Amount Units Sales Variable Costs: 31,250 Per Unit $ 445,313 $ 14.25 Direct Materials $ 125,000 4.00 = Direct Labor $ 28,000 0.90 = Variable Manufacturing Overhead $ 66,250 2.12 = Sales Commissions $ 15,625 0.50 = Shipping Variable Billing Total Variable Costs $ 3,125 0.10 $ 313 0.01 $ 238,313 7.63 Contribution Margin $ 207,000 6.62 Fixed Costs: Fixed Manufacturing Overhead Advertising Sales and Admin. Salaries Fixed Billing Total Fixed Costs Net Operating Income (Loss) 40,000 16,800 87,300 10,000 154,100 $ 52,900 F. Using the budgeted contribution margin income statement in part E. above, calculate the following: a. Breakeven in units: b. Operating Leverage Multiplier: Given a sales volume increase of 8%, operating income will increase by: c. Percent: d. Dollars: #N/A #N/A #N/A #N/A

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Activity Rates and Product Costs using Activity-Based Costing Lonsdale Inc. manufactures entry and dining room lighting fixtures. Five activities are used in manufacturing the fixtures. These activities and their associated budgeted activity costs and activity bases are as follows: Budgeted Activity Activity Cost Activity Base Casting $215,160 Machine hours Assembly 189,550 Direct labor hours Inspecting 30,520 Number of inspections Setup 39,730 Number of setups Materials handling 36,960 Number of loads Corporate records were obtained to estimate the amount of activity to be used by the two products. The estimated activity-base usage quantities and units produced follow: Activity Base Entry Dining Total Machine hours 5,180 4,600 9,780 Direct labor hours 4,460 6,690 11,150 Number of inspections 1,660 520 2,180 Number of setups 230 60 290 Number of loads 700 180 880 Units produced 10,400 5,200 15,600 a. Determine the activity rate for each activity. If required, round the rate to the…

Standard Standard Price Standard Quantity 15 sq. ft. (Rate) $ 5 per sq. ft. $15 per hr. Unit Cost Direct materials (fiberglass) $ 75.00 Direct labor 10 hrs. 150.00 Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($24, 000 + 300 units) 10 hrs. $ 6 per hr. 60.00 80.00 Rip Tide has the following actual results for the month of June: Number of units produced and sold Number of square feet of fiberglass used Cost of fiberglass used Number of labor hours worked 329 5,090 $27,995 3,230 $50,711 $14,090 $25,450 Direct labor cost Variable overhead cost Fixed overhead cost Required: 1. Calculate the direct materials price, quantity, and total spending variances for Rip Tide. 2. Calculate the direct labor rate, efficiency, and total spending variances for Rip Tide. 3. Calculate the variable overhead rate, efficiency, and total spending variances for Rip Tide. 4. Calculate the fixed overhead spending (budget) and volume variances for Rip Tide.

Absorption and Variable Costing with Over- and Underapplied Overhead Flaherty, Inc., has just completed its first year of operations. The unit costs on a normal costing basis are as follows: Manufacturing costs (per unit): Direct materials (3 lbs. @ 1.45) $4.35 Direct labor (0,4 hr. @ 14.50) 5.80 Variable overhead (0.4 hr. @ 5.00) 2.00 Fixed overhead (0.4 hr. @ 7.00) 2.80 Total $14 95 Selling and administrative costs: Variable $1.70 per unit Fixed $218.500 During the year, the company had the following activity: Units produced 26,000 Units sold 23,400 Unit selling price 535 Direct labor hours worked 10.400 Actual fixed overhead was $12,400 less than budgeted fixed overhead. Budgeted variable overhead was $5,900 less than the actual variable overhead. The company used an expected actual activity level of 10,400 direct labor hours to compute the predetermined overhead rates. Any overhead variances are closed to Cost of Goods Sold. Required: 1. Compute the unit cost using (a) absorption…