Class Work - WordSign inFileHomeInsertDrawDesignLayoutReferencesMailingsReviewViewHelpO Tell me what you want to do요 Share1 . . . ' '.I .. 1 . I . . 2.. I ... 3 . .. I . . 4 .. I . 5. . .I. . . 6 . .Comprehensive ProblemXavier Company produces a single product. Variable manufacturing overhead is applied toproducts on the basis of direct labor-hours. The standard costs for one unit of product are asfollows:Direct Material: 6 ounces at $0.5 per Ounce$3Direct Labor: 1.8 hours at $10 per hourMOH: 1.8 hours at $5 per hour18Total Standard Variable Cost Per Unit$30During June, 2,000 units were produced. The costs associated with June's operations were asfollows:Materials Purchased: 18,000 ounces at $0.60 per ounce$10,800Materials used in Production: 14,000 ouncesDirect Labor: 4000 hours at $9.75 per hour---$39,000MOH Costs Incurred$20,800Requirements:a. Compute the direct materials, direct labor, and variable manufacturing overheadvariances both for price and quantity.Page 1 of 4131 words128%2:01 AMO Type here to search5/9/2020

Variances: Variances mean the difference between the standard and the actual activity during a…

Comprehensive Problem Xavier Company produces a single product. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. The standard costs for one unit of product are as follows: Direct Material: 6 ounces at $0.5 per Ounce Direct Labor: 1.8 hours at $10 per hour MOH: 1.8 hours at $5 per hour Total Standard Variable Cost Per Unit $3 18 9 $30 During June, 2,000 units were produced. The costs associated with June's operations were as follows: Materials Purchased: 18,000 ounces at s0.60 per ounce S10,800 Materials used in Production: 14,000 ounces Direct Labor: 4000 hours at $9.75 per hour $39,000 MOH Costs Incurred $20,800 Requirements: a. Compute the direct materials, direct labor, and variable manufacturing overhead variances both for price and quantity.

Comprehensive Problem Xavier Company produces a single product. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. The standard costs for one unit of product are as follows: Direct Material: 6 ounces at $0.5 per Ounce Direct Labor: 1.8 hours at $10 per hour MOH: 1.8 hours at $5 per hour Total Standard Variable Cost Per Unit $3 18 9 $30 During June, 2,000 units were produced. The costs associated with June's operations were as follows: Materials Purchased: 18,000 ounces at s0.60 per ounce S10,800 Materials used in Production: 14,000 ounces Direct Labor: 4000 hours at $9.75 per hour $39,000 MOH Costs Incurred $20,800 Requirements: a. Compute the direct materials, direct labor, and variable manufacturing overhead variances both for price and quantity.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Class Work - Word
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Layout
References
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Help
O Tell me what you want to do
요 Share
1 . . . ' '
.I .. 1 . I . . 2
.. I ... 3 . .. I . . 4 .. I . 5. . .I. . . 6 . .
Comprehensive Problem
Xavier Company produces a single product. Variable manufacturing overhead is applied to
products on the basis of direct labor-hours. The standard costs for one unit of product are as
follows:
Direct Material: 6 ounces at $0.5 per Ounce
$3
Direct Labor: 1.8 hours at $10 per hour
MOH: 1.8 hours at $5 per hour
18
Total Standard Variable Cost Per Unit
$30
During June, 2,000 units were produced. The costs associated with June's operations were as
follows:
Materials Purchased: 18,000 ounces at $0.60 per ounce
$10,800
Materials used in Production: 14,000 ounces
Direct Labor: 4000 hours at $9.75 per hour
---
$39,000
MOH Costs Incurred
$20,800
Requirements:
a. Compute the direct materials, direct labor, and variable manufacturing overhead
variances both for price and quantity.
Page 1 of 4
131 words
128%
2:01 AM
O Type here to search
5/9/2020

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Calculation of Direct Material Price and Quantity Variance

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Calculation of Direct Labor Price and Quantity or Efficiency Variance

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Calculation of Variable Overhead Price or Spending and Efficiency or Quantity Variance

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