Please do not give solution in image format thanku Direct Materials, Direct Labor and Factory Overhead Cost Variance AnalyMackinaw Inc processes a base chemical into plastic Standert costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 78.000 units of product were as followsActual CostsStandard Costs226,200 bat $4.9019.500 hrs $17.80Rates per direct labor hr223,900 ts at $4.7019,950 hrs at $18.00based on 100% of normalcapacity of 20,350 directlabor hrVariable cost, $3.30Fixed cost, $5.20Direct materDrectorFactory overhead$63,710 variable cost$105,820 feed costRequireda. Determine the direct materials price varianes, direct materies quantity variance, and total direct materials cost variance, Enter a favorable variance as a negative number using a minus sign and an unfavorablevariance as a positive numberDirect Material Price VarianceDirect Materials Quantity VarianceTotal Direct Materials Cost VarianceUQLevorable ✓b. Determine the direct laberrate variance, rect labore erance, and total direct labor cost vanance, Enter a favorable variance as a negative number veing a mus sign and an unfavorable variance as apoi numberDired Labor Rate VerencefavorableUnfavorable

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Description: Please do not give solution in image format thanku Direct Materials, Direct Labor and Factory Overhead Cost Variance AnalyMackinaw Inc processes a base chemical into plastic Standert costs and actual costs for direct materials, direct labor, and fact

Variance analysis is one of useful analysis performed in management accounting. Under this, all…

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Direct Materials, Direct Labor and Factory Overhead Cat Variance Analys Mackonaw Inc processes a base chemical into plastic. Standard costs and actual costs for direct materials, drect labor, and fectory overhead incurred for the manufacture of 78.000 units of product were as follows Standard Costs 226,200 a $4.90 19.500 hrs at $17.80 Rates per direct labor based on 100% of normal capacity of 20,350 dr Direct materias D Factory overhead Actual Costs 223.900 19,950 at $4.70 a $18.00 Variable cost, $3.30 Fixed cost $5.20 Each unit requires 025 hour of direct labor Required a. Determine the direct materials price varians, direct materies querdity venance, and total direct materials cost variance. Enter a favorabile variance as a negative number using a minus sign and an unfavorable variance as a positive number $63,710 vanable cost $105,820 fed cost Drect Material Price Variance Direct Materals Quantity Variance Tal Direct Materials Cost Variance b. Determine the direct laberrats variance, rect labor me seriams, and total direct labor cost venance, Enter a favorable varance as a negative number using a meus sign and an untevorable vanance as a puber Dired Laber Rate Variance Lavorable

Direct Materials, Direct Labor and Factory Overhead Cat Variance Analys Mackonaw Inc processes a base chemical into plastic. Standard costs and actual costs for direct materials, drect labor, and fectory overhead incurred for the manufacture of 78.000 units of product were as follows Standard Costs 226,200 a $4.90 19.500 hrs at $17.80 Rates per direct labor based on 100% of normal capacity of 20,350 dr Direct materias D Factory overhead Actual Costs 223.900 19,950 at $4.70 a $18.00 Variable cost, $3.30 Fixed cost $5.20 Each unit requires 025 hour of direct labor Required a. Determine the direct materials price varians, direct materies querdity venance, and total direct materials cost variance. Enter a favorabile variance as a negative number using a minus sign and an unfavorable variance as a positive number $63,710 vanable cost $105,820 fed cost Drect Material Price Variance Direct Materals Quantity Variance Tal Direct Materials Cost Variance b. Determine the direct laberrats variance, rect labor me seriams, and total direct labor cost venance, Enter a favorable varance as a negative number using a meus sign and an untevorable vanance as a puber Dired Laber Rate Variance Lavorable

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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