### Manufacturing Cost Variance Analysis**Required Information***The following information applies to the questions displayed below.*A manufactured product has the following information for June:| Component | Standard Quantity and Cost | Actual Results ||-------------------|----------------------------|-------------------------------------|| Direct materials | 6 pounds @ $8 per pound | 46,100 pounds @ $8.20 per pound || Direct labor | 3 DLH @ $16 per DLH | 22,500 hours @ $16.50 per hour || Overhead | 3 DLH @ $12 per DLH | $278,600 || Units manufactured| | 7,600 units |**Variance Analysis**Compute the following variances:1. **Direct Materials Price Variance**2. **Direct Materials Quantity Variance***Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.***Key:**- AQ = Actual Quantity- SQ = Standard Quantity- AP = Actual Price- SP = Standard Price**Diagram Explanation**The diagram presented is divided into two sections titled "Actual Cost" and "Standard Cost", each containing blank tables meant for entering relevant values for cost calculations. These tables aid in calculating cost variances between actual and expected (standard) values. The layout is structured to help you organize and compute the needed data for variance analysis.

Name: ### Manufacturing Cost Variance Analysis**Required Information***The
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Description: ### Manufacturing Cost Variance Analysis**Required Information***The following information applies to the questions displayed below.*A manufactured product has the following information for June:| Component | Standard Quantity and Cost | Act

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Accounting

[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 AQ = Actual Quantity SQ = Standard Quantity AP Actual Price SP = Standard Price Standard Quantity and Cost 6 pounds @ $8 per pound 3 DLH @ $16 per DLH 3 DLH @ $12 per DLH Compute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.) Actual Cost Actual Results 46,100 pounds @ $8.20 per pound 22,500 hours @ $16.50 per hour $ 278,600 7,600 units Standard Cost

[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 AQ = Actual Quantity SQ = Standard Quantity AP Actual Price SP = Standard Price Standard Quantity and Cost 6 pounds @ $8 per pound 3 DLH @ $16 per DLH 3 DLH @ $12 per DLH Compute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.) Actual Cost Actual Results 46,100 pounds @ $8.20 per pound 22,500 hours @ $16.50 per hour $ 278,600 7,600 units Standard Cost

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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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 AH = Actual Hours SH Standard Hours AR = Actual Rate SR = Standard Rate Standard Quantity and Cost 6 pounds @ $8 per pound 3 DLH @ $16 per DLH 3 DLH @ $12 per DLH Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) Actual Cost Actual Results 46,100 pounds @ $8.20 per pound 22,500 hours @ $16.50 per hour $ 278,600 7,600 units Standard Cost
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What is tha manufacturing overhead rate variance in march...??
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