10. What is the labor efficiency variance foP March? 11. What is the labor spending variance for March? 12. What variable manufacturing overhead cost would be included in the company's planning budget for March? 13. What variable manufacturing overhead cost would be included in the company's flexible hud get for March? 14. What is the variable overhead rate variance for March? 15. What is the variable overhead efficiency variance for March? connect EXERCISE 10-1 Direct Materials Variances LO10-1 Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30, the company manufactured 35,000 helmets, using 22,500 kilograms of plastic. The plastic cost the company $171,000. According to the standard cost card, each helmet should require 0.6 kilograms of plastic, at a cost of $8 per kilogram. Required: What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 35,000 helmets? 2. What is the standard materials cost allowed (SQ x SP) to make 35,000 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? 1.
10. What is the labor efficiency variance foP March? 11. What is the labor spending variance for March? 12. What variable manufacturing overhead cost would be included in the company's planning budget for March? 13. What variable manufacturing overhead cost would be included in the company's flexible hud get for March? 14. What is the variable overhead rate variance for March? 15. What is the variable overhead efficiency variance for March? connect EXERCISE 10-1 Direct Materials Variances LO10-1 Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30, the company manufactured 35,000 helmets, using 22,500 kilograms of plastic. The plastic cost the company $171,000. According to the standard cost card, each helmet should require 0.6 kilograms of plastic, at a cost of $8 per kilogram. Required: What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 35,000 helmets? 2. What is the standard materials cost allowed (SQ x SP) to make 35,000 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? 1.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:10. What is the labor efficiency variance foP March?
11. What is the labor spending variance for March?
12. What variable manufacturing overhead cost would be included in the company's planning
budget for March?
13. What variable manufacturing overhead cost would be included in the company's flexible hud
get for March?
14. What is the variable overhead rate variance for March?
15. What is the variable overhead efficiency variance for March?
connect
EXERCISE 10-1 Direct Materials Variances LO10-1
Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's
products, a football helmet for the North American market, requires a special plastic. During the
quarter ending June 30, the company manufactured 35,000 helmets, using 22,500 kilograms of
plastic. The plastic cost the company $171,000.
According to the standard cost card, each helmet should require 0.6 kilograms of plastic, at a
cost of $8 per kilogram.
Required:
What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 35,000 helmets?
2. What is the standard materials cost allowed (SQ x SP) to make 35,000 helmets?
3. What is the materials spending variance?
4. What is the materials price variance and the materials quantity variance?
1.
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