Please do not give solution in image format thanku The company expected to produce 30,300 units of Product A in 2022 using 90,900 direct labor hours.Actual results for 2022 are as follows:....31,200 units of Product A were produced.Actual direct labor costs were $753,580 for 91,900 direct labor hours worked.Actual direct materials purchased and used during the year cost $350,625 for 127,500 pounds.Actual variable overhead incurred was $158,000 and actual fixed overhead incurred was $206,000.Compute the following variances showing all computations to support your answers. Indicate whether the variances are favorable orunfavorable.Materials Quantity VarianceTotal Direct Labor VarianceDirect Labor Quantity VarianceDirect Materials Price VarianceTotal Overhead Variance$UnfavorableNot ApplicableFavorable Product ACost ComponentDirect materialsDirect laborManufacturingoverhead•Actual results for 2022 are as follows:.BRAMBLECOMPANYStandard Cost CardStandard Quantity X4 pounds3 hours.3 hours.Standard Price$38Standard CostThe company expected to produce 30,300 units of Product A in 2022 using 90,900 direct labor hours.$122412$4831,200 units of Product A were produced.Actual direct labor costs were $753,580 for 91,900 direct labor hours worked.Actual direct materials purchased and used during the year cost $350,625 for 127,500 pounds.Actual variable overhead incurred was $158,000 and actual fixed overhead incurred was $206,000.Compute the following variances showing all computations to support your answers. Indicate whether the variances are favorable orunfavorable.

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Description: Please do not give solution in image format thanku The company expected to produce 30,300 units of Product A in 2022 using 90,900 direct labor hours.Actual results for 2022 are as follows:....31,200 units of Product A were produced.Actual direct labo

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Product A Cost Component Direct materials Direct labor Manufacturing overhead . . BRAMBLECOMPANY Standard Cost Card . Standard Quantity x 4 pounds 3 hours 3 hours Standard Price $3 8 Standard Cost $12 24 The company expected to produce 30,300 units of Product A in 2022 using 90,900 direct labor hours. Actual results for 2022 are as follows: 12 $48 31.200 units of Product A were produced. Actual direct labor costs were $753,580 for 91,900 direct labor hours worked. Actual direct materials purchased and used during the year cost $350,625 for 127,500 pounds. Actual variable overhead incurred was $158,000 and actual fixed overhead incurred was $206,000. Compute the following variances showing all computations to support your answers. Indicate whether the variances are favorable or unfavorable.

Product A Cost Component Direct materials Direct labor Manufacturing overhead . . BRAMBLECOMPANY Standard Cost Card . Standard Quantity x 4 pounds 3 hours 3 hours Standard Price $3 8 Standard Cost $12 24 The company expected to produce 30,300 units of Product A in 2022 using 90,900 direct labor hours. Actual results for 2022 are as follows: 12 $48 31.200 units of Product A were produced. Actual direct labor costs were $753,580 for 91,900 direct labor hours worked. Actual direct materials purchased and used during the year cost $350,625 for 127,500 pounds. Actual variable overhead incurred was $158,000 and actual fixed overhead incurred was $206,000. Compute the following variances showing all computations to support your answers. Indicate whether the variances are favorable or unfavorable.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 5PB: Wrappers Tape makes two products: Simple and Removable. It estimates it will produce 369,991 units...

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The standard costs and actual costs for direct materials for the manufacture of 3,000 actual units of product are Actual Material price per pound of direct material Quantity of material in pound per unit of product Actual production untis of product BDMOV (AQ SQ) for Actual Production x SP C DMCV DMPV + DMOV Actual cost per unit of product (AC) Standard costs per unit of product (SC) $8.00 Alternate formula to compute DMCV= (Actual cost-standard cost) per unit x # of units 065 3,000 Required: Compute the followings variances and indicate if they are favorable (F) or unfavorable (UF) A. Direct material Price variance (DMPV) B. Direct matenal Quantity variance (DMQV) C. Total Direct material Cost variance (DMCV) Solution: A.DMPV = (AP-SP) x AQ for Actual Production Standard Variance $ For UF ($1,462 50) F ($5,250.00) F AQ $8.75 SQ 0.45 ($6.712 50) F 1950 1350 Acronyms: AP Actual price per unit of Material SP Standard price per unit of Material AQ-Actual quantity of Material for Actual…
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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
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Identify cost graphsThe following cost graphs illustrate various types of cost behavior: a. Total direct materials costb. Electricity costs of $1,000 per month plus 50.10 per kilowatt-hour c. Per-unit cost of straight-line depreciation on factory equipmentd. Salary of quality control supervisor, 520,000 per monthe. Per-unit direct labor cost
Handerson Corporation makes a product with the following standard costs: Standard Quantity Standard Price or or Hours 8.5 kilos Rate Direct materials $46.00 r kilo $ 20.00 per hour $ 6.00 per hour Direct labor 0.4 hours Variable overhead 0.4 hours The company reported the following results concerning this product in August. Actual output 3,200 units 29,030 kilos 31,600 kilos 1,160 hours $ 195,920 $ 22,736 $ 7,540 Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is cor purchased. The labor efficiency variance for August is:
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! Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 7 pounds @ $9 per pound 3 DLH @ $17 per DLH 3 DLH @ $13 per DLH Actual Results 59,200 pounds @ $9.10 per pound 25,000 hours @ $17.60 per hour $ 334,000 8,400 units Exercise 21-8 (Algo) Standard cost per unit, total budgeted and actual costs, and total cost variance LO P2 (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for June production. (3) Compute total actual cost for June production. (4) Compute total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute total budgeted cost for June production. Total budgeted (standard) cost
Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 7 pounds @ $8 per pound 3 DLH @ $16 per DLH 3 DLH @ $12 per DLH Actual Results 62,900 pounds @ $8.20 per pound 26,500 hours @ $16.50 per hour $ 325,700 8,900 units (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for June production. (3) Compute total actual cost for June production. (4) Compute total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare the standard cost card showing standard cost per unit. Direct materials Direct labor Overhead Total S
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