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Requirements Compute the cost and efficiency variances for direct materials and direct labor. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances. 3. Hear Smart's management used better quality materials during September. Discuss the trade-off between the two direct material variances. 1. 2. Print Done 1 labor. or direct materials and eviations used: AC = ard quantity.) Fiance 150 U 160 U

Requirements Compute the cost and efficiency variances for direct materials and direct labor. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances. 3. Hear Smart's management used better quality materials during September. Discuss the trade-off between the two direct material variances. 1. 2. Print Done 1 labor. or direct materials and eviations used: AC = ard quantity.) Fiance 150 U 160 U

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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Requirements 1. 2. Hear Smart manufactures headphone cases. During September 2018, the company produced and sold 105,000 cases and recorded the following cost data: (Click the icon to view the cost data.) 3. Compute the cost and efficiency variances for direct materials and direct labor. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances. Hear Smart's management used better quality materials during September. Discuss the trade-off between the two direct material variances. Print Done - X labor. or direct materials and eviations used: AC = ard quantity.) iance 150 U 160 U Inco
Transcribed Image Text:Requirements 1. 2. Hear Smart manufactures headphone cases. During September 2018, the company produced and sold 105,000 cases and recorded the following cost data: (Click the icon to view the cost data.) 3. Compute the cost and efficiency variances for direct materials and direct labor. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances. Hear Smart's management used better quality materials during September. Discuss the trade-off between the two direct material variances. Print Done - X labor. or direct materials and eviations used: AC = ard quantity.) iance 150 U 160 U Inco
Data table Standard Cost Information Cost Direct Materials 2 parts $0.15 per part Direct Labor 0.02 hours 8.00 per hour Variable Manufacturing Overhead 0.02 hours 10 per hour Fixed Manufacturing Overhead ($28,500 for static budget volume of 95,000 units and 1,900 hours, or $15 per hour) Actual Cost Information Direct Materials Direct Labor Variable Manufacturing Overhead Fixed Manufacturing Overhead Print Quantity (209,000 parts @ $0.20 per part) (1,600 hours @ $8.15 per hour) Done $ 41,800 13,040 9,000 26,000 - X or ire tic qu ce an
Transcribed Image Text:Data table Standard Cost Information Cost Direct Materials 2 parts $0.15 per part Direct Labor 0.02 hours 8.00 per hour Variable Manufacturing Overhead 0.02 hours 10 per hour Fixed Manufacturing Overhead ($28,500 for static budget volume of 95,000 units and 1,900 hours, or $15 per hour) Actual Cost Information Direct Materials Direct Labor Variable Manufacturing Overhead Fixed Manufacturing Overhead Print Quantity (209,000 parts @ $0.20 per part) (1,600 hours @ $8.15 per hour) Done $ 41,800 13,040 9,000 26,000 - X or ire tic qu ce an
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