Particulars Total actual direct materials cost Total actual direct labor cost Total actual variable manufacturing overhead Amount $64,800 $52,200 $24,360 The company used 21,600 yards of materials to produce 3,600 unis of handbags. Materials purchased during the month were used in production. Requirement: Determine the direct materials price variance and direct labor eficiency vaiance. (Rousd all he ntemuediste caleslations to 2 decimal places) Direct materials price variance is $9,504 U and direct labor efficiency variance is $1,440 U. Direct materials price variance is $3,640 U and direct labor efficiency variance is $240U. Direct materials price variance is $9,504 F and direct labor efficiency variance is $1,440 F. Direct materials price variance is $3640 F and direct labor efficiency variance is $240F. A company's standard cost system requires 7,000 direct labor hours per month jg. qtler taproduce 3,500 units of handbags. The management has set 2 standard of using 4.3 yards of direct materials per unit of handbag. Information regarding standard costs is mentioned below: Particulars Total standard direct materials cost Total standard direct labor cost Total standard variable manufacturing overhead (based on direct labor-hours) Amount $54,250 $42,000 $18,200 During November, the company produced 3,600 wits of handbags using 6 960 direct labor hours. Actual cots recordad isthe month of Novemb are ss allows:
Particulars Total actual direct materials cost Total actual direct labor cost Total actual variable manufacturing overhead Amount $64,800 $52,200 $24,360 The company used 21,600 yards of materials to produce 3,600 unis of handbags. Materials purchased during the month were used in production. Requirement: Determine the direct materials price variance and direct labor eficiency vaiance. (Rousd all he ntemuediste caleslations to 2 decimal places) Direct materials price variance is $9,504 U and direct labor efficiency variance is $1,440 U. Direct materials price variance is $3,640 U and direct labor efficiency variance is $240U. Direct materials price variance is $9,504 F and direct labor efficiency variance is $1,440 F. Direct materials price variance is $3640 F and direct labor efficiency variance is $240F. A company's standard cost system requires 7,000 direct labor hours per month jg. qtler taproduce 3,500 units of handbags. The management has set 2 standard of using 4.3 yards of direct materials per unit of handbag. Information regarding standard costs is mentioned below: Particulars Total standard direct materials cost Total standard direct labor cost Total standard variable manufacturing overhead (based on direct labor-hours) Amount $54,250 $42,000 $18,200 During November, the company produced 3,600 wits of handbags using 6 960 direct labor hours. Actual cots recordad isthe month of Novemb are ss allows:
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter9: Standard Costing: A Functional-based Control Approach
Section: Chapter Questions
Problem 28P: Haversham Corporation produces dress shirts. The company uses a standard costing system and has set...
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