At the beginning of the year, you estimated the following - Production - 75,000 units Raw Material - 270,000 pounds at a cost of $1,026,000 Direct Labor - 187,500 hours at a cost of $4,125,000 Variable Overhead - 135,000 machine hours at a cost of $567,000 Fixed Overhead - $900,000 At the end of year, the actual results were as follows - Production - 73,000 units Raw Material - 265,720 pounds purchased and used at a cost of $1,036,308 Direct Labor - 179,580 hours at a cost of $3,968,718 Variable Overhead - 133,590 machine hours at a cost of $558,406.20 Fixed Overhead - $891,000 16) The Total Variance for Direct Labor is Favorable. 17) What is the Variable Overhead standard for machine hours per unit ? 18) What is the standard rate per machine hour for Variable Overhead ? 19) What is the Efficiency Variance for Variable Overhead ?   please answer complete

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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At the beginning of the year, you estimated the following -

Production - 75,000 units

Raw Material - 270,000 pounds at a cost of $1,026,000

Direct Labor - 187,500 hours at a cost of $4,125,000

Variable Overhead - 135,000 machine hours at a cost of $567,000

Fixed Overhead - $900,000

At the end of year, the actual results were as follows -

Production - 73,000 units

Raw Material - 265,720 pounds purchased and used at a cost of $1,036,308

Direct Labor - 179,580 hours at a cost of $3,968,718

Variable Overhead - 133,590 machine hours at a cost of $558,406.20

Fixed Overhead - $891,000

16) The Total Variance for Direct Labor is Favorable.

17) What is the Variable Overhead standard for machine hours per unit ?

18) What is the standard rate per machine hour for Variable Overhead ?

19) What is the Efficiency Variance for Variable Overhead ?

 

please answer complete

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