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Landkirk computes its overhead rates using practical volume, which is 3,400 units. The actual results for the year are as follows: ( SEE PICTURE ATTACHED) ADDITIONAL INFO Units produced: 3,100 Actual yield: 4,650 kg Direct materials purchased: Almond 2,800 kg @ P56.00; Chocolate 4,000 @ P57.00 Direct materials used: Almond 2,500 kg; Chocolate 3,600 kg Direct labor: Assembly 1,800 hours @ 40.00; Packaging 1,500 hours @ P40.00 Variable overhead: P65,000 Fixed overhead: P105,000   REQUIREMENTS Labor rate variance Labor efficiency variance Labor mix variance Labor yield variance Using the four-way variance analysis, the variable overhead spending variance Using the four-way variance analysis, the variable overhead efficiency variance Using the four-way variance analysis, the fixed overhead spending variance Using the four-way variance analysis, the volume overhead variance. Using the three-way variance analysis, the spending variance Using the two-way variance analysis, the controllable variance Using the two-way variance analysis, the uncontrollable variance.

Landkirk computes its overhead rates using practical volume, which is 3,400 units. The actual results for the year are as follows: ( SEE PICTURE ATTACHED) ADDITIONAL INFO Units produced: 3,100 Actual yield: 4,650 kg Direct materials purchased: Almond 2,800 kg @ P56.00; Chocolate 4,000 @ P57.00 Direct materials used: Almond 2,500 kg; Chocolate 3,600 kg Direct labor: Assembly 1,800 hours @ 40.00; Packaging 1,500 hours @ P40.00 Variable overhead: P65,000 Fixed overhead: P105,000   REQUIREMENTS Labor rate variance Labor efficiency variance Labor mix variance Labor yield variance Using the four-way variance analysis, the variable overhead spending variance Using the four-way variance analysis, the variable overhead efficiency variance Using the four-way variance analysis, the fixed overhead spending variance Using the four-way variance analysis, the volume overhead variance. Using the three-way variance analysis, the spending variance Using the two-way variance analysis, the controllable variance Using the two-way variance analysis, the uncontrollable variance.

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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Landkirk computes its overhead rates using practical volume, which is 3,400 units. The actual results for the year are as follows:

( SEE PICTURE ATTACHED)

ADDITIONAL INFO

  • Units produced: 3,100
  • Actual yield: 4,650 kg
  • Direct materials purchased: Almond 2,800 kg @ P56.00; Chocolate 4,000 @ P57.00
  • Direct materials used: Almond 2,500 kg; Chocolate 3,600 kg
  • Direct labor: Assembly 1,800 hours @ 40.00; Packaging 1,500 hours @ P40.00
  • Variable overhead: P65,000
  • Fixed overhead: P105,000
  •  

REQUIREMENTS

  1. Labor rate variance
  2. Labor efficiency variance
  3. Labor mix variance
  4. Labor yield variance
  5. Using the four-way variance analysis, the variable overhead spending variance
  6. Using the four-way variance analysis, the variable overhead efficiency variance
  7. Using the four-way variance analysis, the fixed overhead spending variance
  8. Using the four-way variance analysis, the volume overhead variance.
  9. Using the three-way variance analysis, the spending variance
  10. Using the two-way variance analysis, the controllable variance
  11. Using the two-way variance analysis, the uncontrollable variance.
P. P. P. SP Usage Standard Cost Direct Material Almond 0.75 kg P. 37.50 Chocolate 1.25 kg 75.00 P. Total 2.00 kg 112.50 P. Direct Labor Assembly 0.75 hour 30.00 00'0 P. Packaging 0.25 hour 7.50 00'0 Total 1 hour 37.50 Overhead Variable 20.00 1 hour 20.00 P. Fixed 30.00 1 hour 30.00 P. P. Total 50.00 Total Cost per Unit 200.00
Transcribed Image Text:P. P. P. SP Usage Standard Cost Direct Material Almond 0.75 kg P. 37.50 Chocolate 1.25 kg 75.00 P. Total 2.00 kg 112.50 P. Direct Labor Assembly 0.75 hour 30.00 00'0 P. Packaging 0.25 hour 7.50 00'0 Total 1 hour 37.50 Overhead Variable 20.00 1 hour 20.00 P. Fixed 30.00 1 hour 30.00 P. P. Total 50.00 Total Cost per Unit 200.00
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