Consider the following data for a manufacturing company. Direct Direct Materials Labor Standard inputs allowed for actual output standard prices * $59,000 $95,000 Costs incurred $58,000 $100,000 Actual Inputs standard prices $61,000 $98,000 Compute the spending variance for materials. a. $3,000 favorable b. $3,000 unfavorable c. $5,000 unfavorable d. $5,000 favorable e. $2,000 unfavorable f. $2,000 favorable

Consider the following data for a manufacturing company. Direct Direct Materials Labor Standard inputs allowed for actual output standard prices * $59,000 $95,000 Costs incurred $58,000 $100,000 Actual Inputs standard prices $61,000 $98,000 Compute the spending variance for materials. a. $3,000 favorable b. $3,000 unfavorable c. $5,000 unfavorable d. $5,000 favorable e. $2,000 unfavorable f. $2,000 favorable

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter8: Budgeting For Planning And Control

Section: Chapter Questions

Problem 14CE: Refer to Cornerstone Exercise 8.13. In March, Nashler Company produced 163,200 units and had the...

See similar textbooks

Similar questions

Consider the following data collected for Cari's Rentals: Direct Materials Direct Manufacturing LaborCost incurred:Actual inputs x Actual prices $210,000 $95,000Actual inputs x standard prices 214,000 88,000Standard inputs allowed for actual output x standard prices 220,000 85,000Required Compute the price and efficiency variances for direct materials: a. Price $10000 U; Efficiency $4000 F b. Price $4000 F; Efficiency $6000 F c. Price $4000 F; Efficiency $10000 U d. Price $5000 F; Efficiency $5000 F Sales $50,000; Variable cost $30,000; Net profit $6,000; fixed cost is_____. a. $10,000. b. $l4,000 . c. $12,000. d. 8,000. Jackie's Supplies applies manufacturing overhead costs to products at a budgeted indirect-cost rate of$60 per direct manufacturing labor-hour. A retail outlet has requested a bid on a special order of the Toy product. Estimates for this order include: Direct materials $40,000; 500 direct manufacturing labor-hours at $20 per hour; and a 20%…
Consider the following data collected for Albo's Rentals: Direct Materials Direct Manufacturing Labor Cost incurred: Actual inputs x Actual prices $210,000 $95,000 Actual inputs x standard prices 214,000 88,000 Standard inputs allowed for actual output x standard prices 220,000 85,000 Required: Compute the price and efficiency variances for direct materials: a.Price $4000 F; Efficiency $6000 F b.Price $10000 U; Efficiency $4000 F c.Price $5000 F; Efficiency $5000 F d.Price $4000 F; Efficiency $10000 U
Please solve a and b
Consider the following data collected for Albo's Rentals: Direct Materials Direct Manufacturing Labor Cost incurred: Actual inputs x Actual prices $210,000 $95,000 Actual inputs x standard prices 214,000 88,000 Standard inputs allowed for actual output x standard prices 220,000 85,000 Required: Compute the price and efficiency variances for direct manufacturing labor: Question 11Answer a. Price $7000 U; Efficiency $3000 U b. Price $7000 U; Efficiency $3000 F c. Price $5000 U; Efficiency $5000 U d. Price $7000 F; Efficiency $3000 U
Data Table AC × AQ SC × AQ SC × SQ $0.65 per pounds $0.30 per pounds $0.30 per pound × × × 7,600 pounds 7,600 pounds 7,200 pounds $4,940 $2,280 $2,160 Cost Efficiency Variance Variance $2,660 U $120 U . Record Smithson's direct materials journal entries. Assume purchases were made on account. 2. Explain what management will do with this variance information.
please help and provide answer with explanation calculation intermediate calculation use commas and dollars sign with steps formulas
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
Don't give answer in image format
No AI ANSWER
Please use letters and numbers seen in pictures for formulas. Need help with formulas
DATA Resources' requirements, standard pounds per unit Resources' standard price, per pound Units produced Resources used for production, pounds 2.5 $3.35 15,000 36,900 $3.55 Resources' actual price, per pound Using formulas and cell references, perform the required analysis, and input your an: Amount column. Select the corresponding type of variance in the dropdowns in cells results for the green entry cells (C15:C17) into the appropriate fields in CNOWV2 for Amount |Favorable or Unfavorable a. Direct materials price variance b. Direct materials quantity variance c. Direct materials cost variance Favorable or Unfavorable Favorable or Unfavorable
Account