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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 Direct Materials Cost Variance b. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positve number. Direct Labor Rate Variance Direct Labor Time Variance Total Direct Labor Cost Variance $4 c. Determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Variable factory overhead controllable variance Fixed factory overhead volume variance $4 Total factory overhead cost variance $

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 Direct Materials Cost Variance b. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positve number. Direct Labor Rate Variance Direct Labor Time Variance Total Direct Labor Cost Variance $4 c. Determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Variable factory overhead controllable variance Fixed factory overhead volume variance $4 Total factory overhead cost 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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Fri Nov 6 10:24:50 AM * CengageNOWv2 | Online teach x Men's Long Sleeve Box NSE Te X Irn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false DS M ACC-2013-06-20... A Main - msstate.edu Banner - msstate.... еBook Calculator 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 195,000 lbs. at $5.00 193,100 Ibs. at $4.80 Direct labor 19,500 hrs. at $18.00 19,950 hrs. at $18.40 Factory overhead. Rates per direct labor hr., based on 100% of normal capacity of 20,350 direct labor hrs.: Variable cost, $3.80 $73,360 variable cost Fixed cost, $6.00 $122,100 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 Direct Materials Cost Variance %24 Check My Work 6 more Check My Work uses remaining. Previous Next %24 %24 %24
Transcribed Image Text:Fri Nov 6 10:24:50 AM * CengageNOWv2 | Online teach x Men's Long Sleeve Box NSE Te X Irn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false DS M ACC-2013-06-20... A Main - msstate.edu Banner - msstate.... еBook Calculator 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 195,000 lbs. at $5.00 193,100 Ibs. at $4.80 Direct labor 19,500 hrs. at $18.00 19,950 hrs. at $18.40 Factory overhead. Rates per direct labor hr., based on 100% of normal capacity of 20,350 direct labor hrs.: Variable cost, $3.80 $73,360 variable cost Fixed cost, $6.00 $122,100 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 Direct Materials Cost Variance %24 Check My Work 6 more Check My Work uses remaining. Previous Next %24 %24 %24
Bookmarks People Tab Window Help * A 39% I Fri Nov 6 10:25:03 AM !! * CengageNOWv2 | Online teach X 5 Men's Long Sleeve Box NSE Te X + 1/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress3false M ACC-2013-06-20... Main msstate.edu Banner - msstate.... eBook Calculator Fixed cost, $6.00 $122,100 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 Direct Materials Cost Variance b. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positve number. Direct Labor Rate Variance Direct Labor Time Variance Total Direct Labor Cost Variance c. Determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Variable factory overhead controllable variance Fixed factory overhead volume variance Total factory overhead cost variance Previous Next Check My Work 6 more Check My Work uses remaining. %24 %24 %24 %24 %24 %24 %24 %24 %24
Transcribed Image Text:Bookmarks People Tab Window Help * A 39% I Fri Nov 6 10:25:03 AM !! * CengageNOWv2 | Online teach X 5 Men's Long Sleeve Box NSE Te X + 1/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress3false M ACC-2013-06-20... Main msstate.edu Banner - msstate.... eBook Calculator Fixed cost, $6.00 $122,100 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 Direct Materials Cost Variance b. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positve number. Direct Labor Rate Variance Direct Labor Time Variance Total Direct Labor Cost Variance c. Determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Variable factory overhead controllable variance Fixed factory overhead volume variance Total factory overhead cost variance Previous Next Check My Work 6 more Check My Work uses remaining. %24 %24 %24 %24 %24 %24 %24 %24 %24
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