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EMARISSA Co., the consultant of MARISOL Co. Had summxized the following standard cost data extracted from the historical records and perfomance reports issued by the cost accounting department in the prior year analysis and evaluation of the standard costing policy of the Company. Standard cost per Standard cost per Input required per unit unit unit Direct Materials Diret Labor 6 kg per unit 5 hours per unit Р90рer kg P50 per hour P540 P250 Other information follows: Budgeted factory overhead for the year. 480,000 600, Variable Fixed The company 's nomal capacity per month in 400 units Actual cost materials purchased for the year is P 2,342,000 During the year direct materials purchased is 26,880 kg while direct materials actuallly used i0 24,760 kg 7 Actual labor costs for the year 1,080,000 of which 24,900 direct labor hours was consumed Actual factory overhead amounted to 1,320,00, 65% of which is fixed cost, FOH is based on labor hours * Actual production during the year 5,150 unitA

EMARISSA Co., the consultant of MARISOL Co. Had summxized the following standard cost data extracted from the historical records and perfomance reports issued by the cost accounting department in the prior year analysis and evaluation of the standard costing policy of the Company. Standard cost per Standard cost per Input required per unit unit unit Direct Materials Diret Labor 6 kg per unit 5 hours per unit Р90рer kg P50 per hour P540 P250 Other information follows: Budgeted factory overhead for the year. 480,000 600, Variable Fixed The company 's nomal capacity per month in 400 units Actual cost materials purchased for the year is P 2,342,000 During the year direct materials purchased is 26,880 kg while direct materials actuallly used i0 24,760 kg 7 Actual labor costs for the year 1,080,000 of which 24,900 direct labor hours was consumed Actual factory overhead amounted to 1,320,00, 65% of which is fixed cost, FOH is based on labor hours * Actual production during the year 5,150 unitA

FINANCIAL ACCOUNTING
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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1. Compute for Spending Variance
 
2. Compute for Variable Overhead Efficiency Variance
 
3. Compute for Controllable Variance
EMARISSA Co., the consultant of MARISOL Co. Had aummarized the following atandard cost dats extracted from the historical recorda and performance rep orts issued by the coat accounting department in the prior yesr analyais and evaluation of the atandard costing policy of the Company. Standard cost per Standard coat per Input required per unit unit unit p90 per kg P540 Direct Materials Direct Labor 6 kg per unit 5 hours per unit P50 per hour P250 Other information follows: Budgeted factory overhead for the year: N W t tt 480,000 Variable Fixed tte ck 600,00 Actual cost materials purchased for the vear is P 2.342.000 - During the year direct materials purchased is 26,880 kg while direct materials actually used is 24.760 ke - 1,080.000 of which 24,900 direct labor hours was consumed Actual labor costs for the vear -Actual factory overhead amounted to 1.320.00, 63% of whicch is fixed cost, FOH is bssed on labor hours -Actual production during the year 5,150 units
Transcribed Image Text:EMARISSA Co., the consultant of MARISOL Co. Had aummarized the following atandard cost dats extracted from the historical recorda and performance rep orts issued by the coat accounting department in the prior yesr analyais and evaluation of the atandard costing policy of the Company. Standard cost per Standard coat per Input required per unit unit unit p90 per kg P540 Direct Materials Direct Labor 6 kg per unit 5 hours per unit P50 per hour P250 Other information follows: Budgeted factory overhead for the year: N W t tt 480,000 Variable Fixed tte ck 600,00 Actual cost materials purchased for the vear is P 2.342.000 - During the year direct materials purchased is 26,880 kg while direct materials actually used is 24.760 ke - 1,080.000 of which 24,900 direct labor hours was consumed Actual labor costs for the vear -Actual factory overhead amounted to 1.320.00, 63% of whicch is fixed cost, FOH is bssed on labor hours -Actual production during the year 5,150 units
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