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Anthon Corporation has provided the following information regarding last month's activities. 11,010 Units produced (actual) Master production budget Direct materials Direct labor Overhead $ 240,966 204,456 281,127 Standard costs per unit Direct materials Direct labor Variable overhead Actual costs Direct materials purchased and used Direct labor Overhead Direct materials Direct labor Variable overhead Fixed overhead $ 3.96 per liter 5 liters per unit of output $ 33.60 per hour 0.50 hour per unit $ 30.20 per direct labor-hour Variable overhead is applied on the basis of direct labor-hours. Required: Calculate all variable production cost price and efficiency variances and fixed production cost price and production volume variances. Note: Do not round Intermediate calculations. Indicate the effect of each varlance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Price Variance $ 240,630 (61,700 liters) 182,286 (5,330 hours) 289,000 (58% is variable) Efficiency Variance Production Volume Variance

Anthon Corporation has provided the following information regarding last month's activities. 11,010 Units produced (actual) Master production budget Direct materials Direct labor Overhead $ 240,966 204,456 281,127 Standard costs per unit Direct materials Direct labor Variable overhead Actual costs Direct materials purchased and used Direct labor Overhead Direct materials Direct labor Variable overhead Fixed overhead $ 3.96 per liter 5 liters per unit of output $ 33.60 per hour 0.50 hour per unit $ 30.20 per direct labor-hour Variable overhead is applied on the basis of direct labor-hours. Required: Calculate all variable production cost price and efficiency variances and fixed production cost price and production volume variances. Note: Do not round Intermediate calculations. Indicate the effect of each varlance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Price Variance $ 240,630 (61,700 liters) 182,286 (5,330 hours) 289,000 (58% is variable) Efficiency Variance Production Volume Variance

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Anthon Corporation has provided the following information regarding last month's activities. Units produced (actual) 11,010 Master production budget $ 240,966 284,456 281,127 Direct materials Direct labor Overhead Standard costs per unit Direct materials Direct labor Variable overhead Actual costs Direct materials purchased and used Direct labor Overhead Direct materials Direct labor Variable overhead Fixed overhead $3.96 per liter 5 liters per unit of output $33.60 per hour * 0.50 hour per unit $ 30.20 per direct labor-hour Variable overhead is applied on the basis of direct labor-hours. Required: Calculate all variable production cost price and efficiency variances and fixed production cost price and production volume variances. Note: Do not round Intermediate calculations. Indicate the effect of each varlance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Price Variance $ 249,630 (61,700 liters) 182,286 (5,330 hours) 289,000 (58% is variable) Efficiency Variance Production Volume Variance
Transcribed Image Text:Anthon Corporation has provided the following information regarding last month's activities. Units produced (actual) 11,010 Master production budget $ 240,966 284,456 281,127 Direct materials Direct labor Overhead Standard costs per unit Direct materials Direct labor Variable overhead Actual costs Direct materials purchased and used Direct labor Overhead Direct materials Direct labor Variable overhead Fixed overhead $3.96 per liter 5 liters per unit of output $33.60 per hour * 0.50 hour per unit $ 30.20 per direct labor-hour Variable overhead is applied on the basis of direct labor-hours. Required: Calculate all variable production cost price and efficiency variances and fixed production cost price and production volume variances. Note: Do not round Intermediate calculations. Indicate the effect of each varlance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Price Variance $ 249,630 (61,700 liters) 182,286 (5,330 hours) 289,000 (58% is variable) Efficiency Variance Production Volume Variance
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