Instructions Determine (a) the direct materials price variance, direct materials quantity variance, and total direct materials cost variance; (b) the direct labor rate variance, direct labor time variance, and total direct labor cost variance; and. (c) the variable factory overhead controllable variance, the fixed factory overhead volume variance, and the total factory overhead cost variance.

Instructions Determine (a) the direct materials price variance, direct materials quantity variance, and total direct materials cost variance; (b) the direct labor rate variance, direct labor time variance, and total direct labor cost variance; and. (c) the variable factory overhead controllable variance, the fixed factory overhead volume variance, and the total factory overhead cost variance.

Name: Please look at the questions on the first picture and answer them on s
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Please look at the questions on the first picture and answer them on secound picture. thanks for your time OBJ. 3, 4PR 23-3A Direct materials, direct labor, and factory overhead cost varianceMackinaw Inc. processes a base chemical into plastic. Stand

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis
Cost per Equivalent Unit—FIFO Method Superior Micro Products uses the FIFO method in its process costing system. Data for the Assembly Department for May appear below: Required: Compute the cost per equivalent unit for materials, labor, overhead, and in total.
Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 74,000 units of product were as follows:
Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 78,000 units of product were as follows: Standard Costs Actual Costs Direct materials 202,800 Ibs. at $6.00 200,800 Ibs. at $5.80 Direct labor 19,500 hrs. at $18.10 19,950 hrs. at $18.50 Factory overhead Rates per direct labor hr., based on 100% of normal capacity of 20,350 direct labor hrs.: Variable cost, $4.20 $81,080 variable cost Fixed cost, $6.60 $134,310 fixed cost Each unit requires 0.25 hour of direct labor. Required: a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct Materials Price Variance Direct Materials Quantity Variance Total…
eBook Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 74,000 units of product were as follows: Standard Costs Actual Costs Direct materials 229,400 lbs. at $4.70 227,100 lbs. at $4.60 Direct labor 18,500 hrs. at $18.20 18,930 hrs. at $18.40 Factory overhead Rates per direct labor hr., based on 100% of normal capacity of 19,310 direct labor hrs.: Variable cost, $3.30 $60,440 variable cost Fixed cost, $5.20 $100,412 fixed cost Each unit requires 0.25 hour of direct labor. Required: a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. b. Determine…
nttps:25A%252F%252HM..mh A company allocates materials handling cost to the company's two products using the below data: Product A Product B Total expected units produced 5,400 11,800 Total expected material 530 470 moves Expected direct labor-hour 670 150 per unit The total materials handling cost for the year is expected to be $182,000. If the materials handling cost is allocated on the basis of direct labor-hours, how much of the total materials handling cost would be allocated to the Product B? (Round your intermediate calculations to 5 decimal places.) Multiple Choice $97,944 $74,263 $35,671 $59.791
8
Direct Materials and Direct Labor, Variance Analysis; Factory Overhead Cost Variance Analysis Route 66 Tire Co. manufactures automobile tires. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 6,000 tires were as follows: Standard Costs Actual Costs Direct materials 7,800 lbs. at $5.40 7,700 lbs. at $5.30 Direct Labor 1,500 hrs. at $17.90 1,530 hrs. at $18.20 Factory Overhead Rates per direct labour hr., based on 100% of normal capacity of 1,560 direct labor hrs. Variable Cost, $3.50 $5,200 Variable Cost Fixed Cost, $5.50 $8,560 Fixed Cost Each tire requires 0.25 hours of direct labor. Required: a. Determine the price variance, quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative amount, and an unfavorable variance as a positive amount. Price variance $___________ favorable/unfavorable Quantity variance ___________…
Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 78,000 units of product were as follows: Standard Costs Actual Costs Direct materials 265,200 Ibs. at $5.10 262,500 Ibs. at $490 Direct labor 19,500 hrs. at $18.10 19,950 hrs. at $18.50 Factory overhead Rates per direct labor hr., based on 100% of normal capacity of 20,350 direct labor hrs.: Variable cost, $4.70 $90,730 variable cost Fixed cost, $7.40 $150,590 fixed cost Each unit requires 0.25 hour of direct labor. Required:
2
Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 78,000 units of product were as follows: Standard Costs Actual Costs Direct materials 249,600 lbs. at $5.40 247,100 Ibs. at $5.20 Direct labor 19,500 hrs. at $18.20 19,950 hrs. at $18.50 Factory overhead Rates per direct labor hr., based on 100% of normal capacity of 20,350 direct labor hrs.: Variable cost, $3.10 $59,850 variable cost Fixed cost, $4.90 $99,715 fixed cost Each unit reguires 0.25 hour of direct labor. Required: a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using minus sign and an unfavorable variance as a positive number. Direct Materials Price Variance Direct Materials Quantity Variance Total…
Inputs Standard Quantity Standard Price Direct materials 3.0 pounds $4.00 per pound Direct labor 0.50 hours $22.00 per hour Variable manufacturing overhead 0.50 hours $6.00 per hour Actual results: Actual output 2,000 units Actual variable manufacturing overhead cost $7,140 Actual Quantity Actual price Actual direct materials cost 6,500 pounds $3.80 per pound Actual direct labor cost 1,050 hours $21.60 per hour Enter a formula into each of the cells marked with a ? below Main Example: Chapter 10 Exhibit 10-4: Standard Cost Variance Analysis–Direct Materials Standard Quantity Allowed for the Actual Output, at Standard Price ? pounds × ? per pound = Actual Quantity of Input, at Standard Price ? pounds × ? per pound = ? Actual Quantity of Input, at Actual Price ? pounds × ? per pound = ? Direct materials…