variable manufacturing overhead efficiency variance i

Dawson Toys, Limited, produces a toy called the Maze. The company has recently created a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 7 microns per toy at $0.32 per micron Direct labor: 1.3 hours per toy at $6.70 per hour During July, the company produced 5,200 Maze toys. The toy's production data for the month are as follows: Direct materials: 76,000 microns were purchased at a cost of $0.30 per micron. 30,500 of these microns were still in inventory at the end of the month. Direct labor. 7,260 direct labor-hours were worked at a cost of $53,724. Required: 1. Compute the following variances for July: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations. Round final answers to the nearest whole dollar amount.) a. The materials price and quantity…

Desue Corporation makes a product with the following standards for labor and variable overhead:    Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct labor 0.1 hours $19.00 per hour $1.90 Variable overhead 0.1 hours $7.00 per hour $0.70 The company budgeted for production of 6,500 units in December, but actual production was 6,300 units. The company used 610 direct labor-hours to produce this output. The actual variable overhead rate was $6.40 per hour. The company applies variable overhead on the basis of direct labor-hours. The variable overhead rate variance for December is:

Advanced Micro Devices develops computing products. Assume one of its processors, Ryzen 9, has a standard labor time of 0.20 hour and a standard labor rate of $20 per hour. During March, the following activities pertaining to direct labor for Ryzen 9 were recorded: Direct labor hours used 60,000 Direct labor cost $1, 176, 000 Units of Ryzen 9 manufactured 310,000 Calculate the direct labor rate variance

The Company manufactures flowerpots. The following data relate to the standards for direct labor: Standard direct labor hours per pot 0.75 Standard direct labor rate per hour $16.25 The Company had the following actual results for April: Actual direct labor hours 4500 Actual total direct labor cost $71,000 Actual number of pots produced 8240 What is the direct labor efficiency variance for April? $36,400 favorable $36,400 unfavorable $27,300 favorable $27,300 unfavorable

Queen Industries uses a standard costing system in the manufacturing of its single product. It requires 2 hours of labor to produce 1 unit of final product. In February, Queen Industries produced 12,000 units. The standard cost for labor allowed for the output was $99,500, and there was an unfavorable direct labor time variance of $4,000. If the workers were paid $5 per hour, what was the direct labor rate variance ? [Hint: enter your answer in POSITIVE to denote favorable, NEGATIVE to denote unfavorable] [Hint: Round your answer in 2 decimal places]

Penny Company manufactures only one product and uses a standard cost system. The following information is from Penny’s records for May: Direct labor rate variance: $15,000 favorable Direct labot time variance: $ 25,000 unfavorable Standard hours per unit produced: 2.5 Standard rate per hour: $25 During May, the company used 12.5% more hours than the standard allowed. What were the total standard hours allowed for the units manufactured during the month? What were the actual hours worked? How many actual units were produced during May?

Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Direct materials Direct labor Standard Quantity or Hours 5.70 pounds 0.50 hours Standard Price or Rate $2.50 per pound $7.50 per hour Materials price variance Materials quantity variance Standard Cost $14.25 $ 3.75 During the most recent month, the following activity was recorded: a. Eleven thousand pounds of material were purchased at a cost of $2.40 per pound. b. The company produced only 1,100 units, using 9,900 pounds of material. (The rest of the material purchased remained in raw materials inventory.) c. 650 hours of direct labor time were recorded at a total labor cost of $7,800. Required: Compute the materials price and quantity variances for the month. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive…

Dawson Toys, Limited, produces a toy called the Maze. The company has recently created a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 7 microns per toy at $0.34 per micron Direct labor: 1.5 hours per toy at $7.40 per hour During July, the company produced 5,500 Maze toys. The toy's production data for the month are as follows: Direct materials. 71,000 microns were purchased at a cost of $0.31 per micron. 22,875 of these microns were still in inventory at the end of the month. Direct labor. 8,850 direct labor-hours were worked at a cost of $69,915. Required: 1. Compute the following variances for July: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations. Round final answer to the nearest whole dollar amount.) S a. The materials price and quantity…

The following standards for variable manufacturing overhead have been established for a company that makes only one product: Standard hours per unit of output - 3.2 hoursStandard variable overhead rate - P12.70 per hour The following data pertain to operations for the last month: Actual hours - 1,600 hoursActual total variable overhead cost - P19,600Actual output - 400 units What is the variable overhead spending variance for the month (F)?