variance report LO P1, P2, P3, P43 of 4[The following information applies to the questions displayed below)and overheadSkippedeBookferencesAntuan Company set the following standard costs per unit for its product.Direct materials (3.0 pounds @ $6.00Direct labor (1.7 hours $13.00Overhead (1.7 hours $18.50 per hourStandard cost per unit$ 18.00The standard overhead rate ($18.50 per direct labor hour) is based on a predicted activity level of 75% of the factory'scapacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the 75% capacitylevel.Overhead Budget (75% Capacity)Variable overhead costsIndirect materialsIndirect labor15.000PowerMaintenance000$0.000Total variable overhead costs135,000Fixed overhead costsDepreciation-Building24.000170180017.000225.75013361750$ 471,750Depreciation-MachineryTaxes and insuranceSupervisory salariesTotal fixed overhead costsTotal overhead costsThe company incurred the following actual costs when it operated at 75% of capacity in October.Direct materials (46, see pounds @ $6.Direct labor (21,080 hours @ $13110 ppoundOverhead costsIndirect materialsIndirect laborMaintenanceDepreciation-BuildingDepreciation MachineryTaxes and insuranceSupervisory salariesTotal costs$ 288,300275,10041 100176,95017,25034,50024,00094,50015.300225,758629, 350$1,192,750Problem 21-3A (Algo) Part 33. Compute the direct labor variance, including its rate and efficiency variances. (Indicate the effect of each varlance by selectingfavorable, unfavorable, or no varlance. Round "Rate per hour" answers to two decimal places.)Actual CostStandard Cost

Labor rate variance:It is a variance between the standard rate at which labor should be hire against…

Antuan Company set the following standard costs per unit for its product. Direct materials (3.0 pounds @ $6.0 Direct labor (3.7 hours Overhead (1-7 hours @ $18.50 per Standard cost per unit The standard overhead rate ($18.50 per direct labor hour) is based on a predicted activity level of 75% of the factory's capacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the 75% capacity level. Overhead Budget (75% Capacity) Variable overhead costs Indirect materials $ 15,000

Antuan Company set the following standard costs per unit for its product. Direct materials (3.0 pounds @ $6.0 Direct labor (3.7 hours Overhead (1-7 hours @ $18.50 per Standard cost per unit The standard overhead rate ($18.50 per direct labor hour) is based on a predicted activity level of 75% of the factory's capacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the 75% capacity level. Overhead Budget (75% Capacity) Variable overhead costs Indirect materials $ 15,000

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter10: Standard Costing And Variance Analysis

Section: Chapter Questions

Problem 27BEA: Rath Company showed the following information for the year: Required: 1. Calculate the standard...

See similar textbooks

Similar questions

Mulliner Company showed the following information for the year: Required: 1. Calculate the standard direct labor hours for actual production. 2. Calculate the applied variable overhead. 3. Calculate the total variable overhead variance.
Direct materials, direct labor, and factory overhead cost variance analysis Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 40,000 units of product were as follows: Each unit requires 0.3 hour of direct labor. Instructions Determine (A) the direct materials price variance, direct materials quantity variance, and total direct materials cost variance; (B) the direct labor rate variance, direct labor time variance, and total direct labor cost variance; and (C) the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance.
Direct Material Direct Labor Standard Cost Data per 1 Unit Quantity Price 3 lbs $2.00/lb 2 hrs $4.00/hr Actual Data: Units produced Material purchase & usage Direct Labor Show all computations. 25 100 lbs at $2.20 per lb 30 hrs; total cost $129 a) Compute price variance, quantity variance, direct material variance b) Compute rate variance, efficiency variance, direct labor variance
Direct Labor Actual Data: Units produced Direct Labor Standard Cost Data per 1 Unit Quantity Price 2 hrs $41/hr SHOW ALL COMPUTATIONS. 20 units 39 hrs; total cost $1560 Compute rate variance, efficiency variance, direct labor variance
A.compute all materials and labor variances B. Compute total overhead variance
please help in detail
cost account
must needed answerd
A company reports the following information for its direct labor. Actual hours of direct labor used Actual rate of direct labor per hour Standard rate of direct labor per hour Standard hours of direct labor for units produced ! AH = Actual Hours SH= Standard Hours AR= Actual Rate SR Standard Rate Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable. Q F1 Actual Cost @ 2 W F2 # 3 E 80 F3 $ $ 4 0 Ơ F4 R $ % 5 0 0 * DII 8 F8 Standard Cost ( 9 F9 ) U I O F1
Please do not give solution in image format thanku
ACTUAL Direct Materials Direct Labor Summary Mat. Req. No. Description Amount Time Ticket No. Description Amount Item Amount Direct Materials 132 360 meters at $32 H9 18 hours at $19 Direct Labor 134 50 meters at $32 H12 18 hours at $19 Factory Overhead Total Total Total Cost Feedback V Check My Work 1 & 2. Include the estimated and actual direct materials and direct labor. Include the estimated and applied factory overhead. What is the best explanation for the variances between actual costs and estimated costs. For this purpose, assume that the additional meters of material used in the job were spoiled, the factory overhead rate has proven to be satisfactory, and an inexperienced employee performed the work. a. The direct materials cost exceeded the estimate by $40 because 2 meters of materials were spoiled. b. Management didn't provide enough direction to complete tasks on budget. c. The direct materials cost exceeded the estimate by $320 because 10 meters of materials were spoiled.…
the Fixed overhead capacity variance is nearest to?? A. P4,710 F B. P4,710 UC. P5,110 FD. P5,110 U