Anthon Corporation has provided the following information regarding last month's activities. Units produced (actual) Master production budget 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 10,500 $ 237,600 201,600 267,000 $3.96 per liter x 5 liters per unit of output $ 33.60 per hour x 0.5 hour per unit $ 28.50 per direct labor-hour $ 207,450 (53,200 liters) 176,472 (5,160 hours) 272,000 (58% is variable) 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 variance Note: Do not round intermediate calculations. Indicate the effect of each veriance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for
unfavorable. If there is no effect, do not select either option.
Direct materials
Direct labor
Variable overhead
Fixed overhead
$
$
Price Variance
3,192 F
3,096 U
Efficiency Variance
2,772 U
3,024 F
$
$
Production Volume
Variance
Transcribed Image Text:Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Direct materials Direct labor Variable overhead Fixed overhead $ $ Price Variance 3,192 F 3,096 U Efficiency Variance 2,772 U 3,024 F $ $ Production Volume Variance
Anthon Corporation has provided the following information regarding last month's activities.
Units produced (actual)
Master production budget
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
10,500
$ 237,600
201,600
267,000
$ 3.96 per liter x 5 liters per unit of output
$ 33.60 per hour x 0.5 hour per unit
$ 28.50 per direct labor-hour
$ 207,480 (53,200 liters)
176,472 (5,160 hours)
272,000 (58% is variable)
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 variance-
Note: Do not round intermediate calculations. Indicate the effect of each veriance by selecting "F" for favorable, or "U" for
unfavorable. If there is no effect, do not select either option.
Transcribed Image Text:Anthon Corporation has provided the following information regarding last month's activities. Units produced (actual) Master production budget 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 10,500 $ 237,600 201,600 267,000 $ 3.96 per liter x 5 liters per unit of output $ 33.60 per hour x 0.5 hour per unit $ 28.50 per direct labor-hour $ 207,480 (53,200 liters) 176,472 (5,160 hours) 272,000 (58% is variable) 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 variance- Note: Do not round intermediate calculations. Indicate the effect of each veriance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.
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