Vintage Company reports the following information. Direct materials Direct labor Units produced per year Variable overhead Fixed overhead $9.50 per unit $19.50 per unit 15,000 units $9.50 per unit $ 112,500 per year.
Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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Vintage Company reports the following information.
Direct materials.
Direct labor
Units produced per year
Variable overhead:
Fixed overhead
Compute product cost per unit under variable costing. (Round your answers to 2 decimal places.)
Product cost per unit using variable costing
$9.50 per unit
$19.50 per unit
15,000 units
$9.50 per unit
$ 112,500 per year
Product cost per unit
Per unit
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