Gilder Corporation makes a product with the following standard costs:Standard Quantity or Hours7.6 grams0.1 hours0.1 hoursDirect materials.Direct labor.Variable overhead..Actual direct labor-hours....Actual cost of raw materials purchases..Actual direct labor cost....Actual variable overhead cost.Standard Price or Rate Standard Cost Per Unit$6.00 per gram$16.00 per hour$6.00 per hourThe company reported the following results concerning this product in June.Originally budgeted output..Actual output...5,400 units5,500 units39,200 grams44,100 gramsRaw materials used in productionPurchases of raw materials510 hours$260, 190$240 U$216 U$240 F$216 F$7,803$2,754$45.60$1.60$0.60The company applies variable overhead on the basis of direct labor-hours. The directmaterials purchases variance is computed when the materials are purchased.The variable overhead efficiency variance for June is:

Name: Gilder Corporation makes a product with the following standard costs:
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Description: Gilder Corporation makes a product with the following standard costs:Standard Quantity or Hours7.6 grams0.1 hours0.1 hoursDirect materials.Direct labor.Variable overhead..Actual direct labor-hours....Actual cost of raw materials purchases..Actual di

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Direct labor.. Variable overhead.. 0.1 hours 0.1 hours Originally budgeted output.. Actual output... Raw materials used in production Purchases of raw materials The company reported the following results concerning this product in June. Actual direct labor-hours..... Actual cost of raw materials purchases.. Actual direct labor cost..... Actual variable overhead cost. $16.00 per hour $6.00 per hour $240 U 5,400 units 5,500 units 39,200 grams 44,100 grams hours 510 $260, 190 $7,803 $2,754 $1.60 $0.60 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The variable overhead efficiency variance for June is:

Direct labor.. Variable overhead.. 0.1 hours 0.1 hours Originally budgeted output.. Actual output... Raw materials used in production Purchases of raw materials The company reported the following results concerning this product in June. Actual direct labor-hours..... Actual cost of raw materials purchases.. Actual direct labor cost..... Actual variable overhead cost. $16.00 per hour $6.00 per hour $240 U 5,400 units 5,500 units 39,200 grams 44,100 grams hours 510 $260, 190 $7,803 $2,754 $1.60 $0.60 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The variable overhead efficiency variance for June is:

FINANCIAL ACCOUNTING

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Chapter1: Financial Statements And Business Decisions

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Concept explainers

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.

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Question

Gilder Corporation makes a product with the following standard costs:
Standard Quantity or Hours
7.6 grams
0.1 hours
0.1 hours
Direct materials.
Direct labor.
Variable overhead..
Actual direct labor-hours....
Actual cost of raw materials purchases..
Actual direct labor cost....
Actual variable overhead cost.
Standard Price or Rate Standard Cost Per Unit
$6.00 per gram
$16.00 per hour
$6.00 per hour
The company reported the following results concerning this product in June.
Originally budgeted output..
Actual output...
5,400 units
5,500 units
39,200 grams
44,100 grams
Raw materials used in production
Purchases of raw materials
510 hours
$260, 190
$240 U
$216 U
$240 F
$216 F
$7,803
$2,754
$45.60
$1.60
$0.60
The company applies variable overhead on the basis of direct labor-hours. The direct
materials purchases variance is computed when the materials are purchased.
The variable overhead efficiency variance for June is:

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