Compute the labour quantity variance Imperial Manufacturing accumulates the following datarelative to jobs started and finished during the month ofOctober 2023.Cost and Production DataRaw materials unit costActualStandard$2.35$2.15Raw materials units used11,20010,800Direct labor rate$9.20$8.80Direct labor hours worked16,50017,100Manufacturingoverhead $205,700.00incurredManufacturingoverhead$210,000.00appliedCompute the labor quantity variance.

Labor Quantity Variance is the difference between the actual hours worked and the standard hours…

Answered: Imperial Manufacturing accumulates the…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 7EA: A company estimates its manufacturing overhead will be $750,000 for the next year. What is the...

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A company estimates its manufacturing overhead will be $840,000 for the next year. What is the predetermined overhead rate given each of the following Independent allocation bases? Budgeted direct labor hours: 90,615 Budgeted direct labor expense: $750000 Estimated machine hours: 150,000
Subject: accounting
Hh1. Account
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Crane Corporation accumulates the following data relative to jobs started and finished during the month of June 2022 Costs and Production Data Raw materials unit cost Raw materials units Direct labor payroll Direct labor, hours Manufacturing overhead incurred Manufacturing overhead applied Machine hours expected to be used at normal capacity Budgeted fixed overhead for June Variable overhead rate per machine hour Fixed overhead rate per machine hour Actual $2.20 11.200 $169,500 15,000 $214,452 Standard $2 10,400 $161,120 15,200 $209,760 41.500 $3.10 $1.50 Overhead is applied on the basis of standard machine hours. Three hours of machine time are required for each direct labor hour. The jobs were sold for $458,000. Selling and administrative expenses were $35,700. Assume that the amount of raw materials purchased equaled the amount used.
Swifty Corporation accumulates the following data relative to jobs started and finished during the month of June 2022. Costs and Production Data Raw materials unit cost Raw materials units Direct labor payroll Direct labor hours Manufacturing overhead incurred Manufacturing overhead applied Machine hours expected to be used at normal capacity Budgeted fixed overhead for June Variable overhead rate per machine hour Fixed overhead rate per machine hour Actual Standard $4.10 $4.00 11,000 10,600 $149,000 $142,880 14,900 15,200 $178,700 $182,400 46,600 $46,600 $3.00 $1.00 Overhead is applied on the basis of standard machine hours. 3.00 hours of machine time are required for each direct labor hour. The jobs were sold for $488,000. Selling and administrative expenses were $35,600. Assume that the amount of raw materials purchased equaled the amount used. Compute the overhead controllable variance and the overhead volume variance. Overhead controllable variance 50300 Favorable Overhead volume…
Sheridan Corporation accumulates the following data relative to jobs started and finished during the month of June 2022. Costs and Production Data Raw materials unit cost Raw materials units Direct labor payroll Direct labor hours Manufacturing overhead incurred Manufacturing overhead applied Machine hours expected to be used at normal capacity Budgeted fixed overhead for June Variable overhead rate per machine hour Fixed overhead rate per machine hour Actual Standard $2.30 $2 11.500 11,000 $152,440 $147,440 14,800 15,200 $230,572 $218,880 43,500 $69,600 $3.20 $1.60 Overhead is applied on the basis of standard machine hours. Three hours of machine time are required for each direct labor hour. The jobs were sold for $458,000. Selling and administrative expenses were $41,200. Assume that the amount of raw materials purchased equaled the amount used. (a) Compute all of the variances for (1) direct materials and (2) direct labor. (Round per unit values to 2 decimal places, e.g. 52.75 and…
Bonita Corporation accumulates the following data relative to jobs started and finished during the month of June 2022. Costs and Production Data Actual Standard Raw materials unit cost $2.20 $2 Raw materials units 11,300 10,900 Direct labor payroll $166,500 $159,600 Direct labor hours 15,000 15,200 Manufacturing overhead incurred $210,420 Manufacturing overhead applied $214,320 Machine hours expected to be used at normal capacity 43,500 Budgeted fixed overhead for June $73,950 Variable overhead rate per machine hour $3.00 Fixed overhead rate per machine hour $1.70 Overhead is applied on the basis of standard machine hours. Three hours of machine time are required for each direct labor hour. The jobs were sold for $473,000. Selling and administrative expenses were $44,400. Assume that the amount of raw materials purchased equaled the amount used. Compute the total overhead variance. Total overhead variance $
Oriole Corporation accumulates the following data relative to jobs started and finished during the month of June 2022. Costs and Production Data Raw materials unit cost Raw materials units Direct labor payroll Direct labor hours Manufacturing overhead incurred Manufacturing overhead applied Machine hours expected to be used at normal capacity Budgeted fixed overhead for June Variable overhead rate per machine hour Fixed overhead rate per machine hour Actual $4.10 11,400 $165,000 15,000 $192.130 Standard $4.00 11.000 $160,650 15,300 $192,780 44,340 $75,378 $2.80 $1.70 Overhead is applied on the basis of standard machine hours. 2.80 hours of machine time are required for each direct labor hour. The jobs were sold for $462.000. Selling and administrative expenses were $41.200. Assume that the amount of raw materials purchased equaled the amount used.
Assume the following for White Top Inc. for the current fiscal year. White Top applies overhead onthe basis of units produced.Job Machine Hours246 5,200247 4,000Direct labor hours 50,000Average hourly pay rate $16.00Manufacturing overhead $1,400,000Budgeted overhead $350,000Actual overhead $360,000Actual labor hours 22,000Actual number of units sold 650,000Overapplied overhead $ 30,000Budgeted production (units) 700,000Budgeted overhead $200,000Actual overhead $222,000Actual labor hours 15,000Actual number of units sold 43,000Underapplied overhead $ 20,000Budgeted production (units) 50,000Required How many units were produced in the current fiscal year?
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Ayala Corporation accumulates the following data relative to jobs started and finished during the month of June 2017. Costs and Production DataRaw materials unit cost Raw materials units used Direct labor payroll Direct labor hours worked Manufacturing overhead incurred Manufacturing overhead applied Machine hours expected to be used at normal capacity Budgeted fixed overhead for JuneVariable overhead rate per machine hour Fixed overhead rate per machine hourActual$2.25 10,600 $120,960 14,400 $189,500Standard$2.10 10,000 $120,000 15,000$193,500 42,500 $55,250 $3.00 $1.30Overhead is applied on the basis of standard machine hours. Three hours of machine time are required for each direct labor hour. The jobs were sold for $400,000. Selling and ad- ministrative expenses were $40,000. Assume that the amount of raw materials purchased equaled the amount used.Instructions(a) Compute all of the variances for (1) direct materials and (2) direct labor. (b) Compute the total overhead variance.…

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