Managerial Accounting
Managerial Accounting
15th Edition
ISBN: 9781337912020
Author: Carl Warren, Ph.d. Cma William B. Tayler
Publisher: South-Western College Pub
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Chapter 9, Problem 9E

Glacier Bicycle Company manufactures commuter bicycles from recycled materials. The following data for October are available:

Chapter 9, Problem 9E, Glacier Bicycle Company manufactures commuter bicycles from recycled materials. The following data

  1. a. Determine for October the direct labor rate variance, direct labor time variance, and total direct labor cost variance.
  2. b. How much direct labor should be debited to Work in Process?
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Question 2a) Refer to the information in Question 1 for data. Now, assume that Juju has decided to use a plantwide overhead rate based on the direct labor hours.Required:i) Calculate the predetermined plantwide overhead rate. (Note: Round to the nearest cent.)ii) Calculate the overhead applied to production for the month of Jun.iii) Calculate the overhead variance for the month of Jun
Computing and journalizing standard cost variances McKnight manufactures coffee mugs that it sells to other companies for customizing with their own logos. McKnight prepares flexible budgets and uses a standard cost system to control manufacturing costs. The standard unit cost of a coffee mug is based on static budget volume of 59,800 coffee mugs per month: Direct Materials (0.2 lbs. @ $0.25 per Ib.) $ 0.05 Direct Labor (3 minutes @ $0.11 per minute) 0.33 Manufacturing Overhead: Variable (3 minutes @ $0.06 per minute) $ 0.18 Fixed (3 minutes @ $0.15 per minute) 0.45 0.63 Total Cost Per Coffee Mug $ 1.01 Actual cost and production information for July 2020 follow: а. Actual production and sales were 62,500 coffee mugs. b. Actual direct materials usage was 10,000 Ibs. at an actual cost of $0.17 per Ib. Actual direct labor usage of 198,000 minutes at a cost of $25,740. d. Actual overhead cost was $8,500 variable and $32,100 fixed. e. Selling and administrative costs were $110,000. C.
1. Using the four-variance approach, what is the volume variance? 2. Using the four-variance approach, what is the fixed overhead spending? 3. Using the four-variance approach, what is the variable overhead efficiency variance? 4. Using the four-variance approach, what is the variable overhead spending variance?

Chapter 9 Solutions

Managerial Accounting

Ch. 9 - Direct materials variances Bellingham Company...Ch. 9 - Direct labor variances Bellingham Company produces...Ch. 9 - Factory overhead controllable variance Bellingham...Ch. 9 - Factory overhead volume variance Bellingham...Ch. 9 - Standard cost journal entries Bellingham Company...Ch. 9 - Prob. 6BECh. 9 - Crazy Delicious Inc. produces chocolate bars. The...Ch. 9 - Prob. 2ECh. 9 - Salisbury Bottle Company manufactures plastic...Ch. 9 - The following data relate to the direct materials...Ch. 9 - De Soto Inc. produces tablet computers. The...Ch. 9 - Standard direct materials cost per unit from...Ch. 9 - H.J. Heinz Company uses standards to control its...Ch. 9 - Direct labor variances The following data relate...Ch. 9 - Glacier Bicycle Company manufactures commuter...Ch. 9 - Ada Clothes Company produced 40,000 units during...Ch. 9 - Prob. 11ECh. 9 - Direct materials and direct labor variances At the...Ch. 9 - Flexible overhead budget Leno Manufacturing...Ch. 9 - Prob. 14ECh. 9 - Factory overhead cost variances The following data...Ch. 9 - Thomas Textiles Corporation began November with a...Ch. 9 - Prob. 17ECh. 9 - Factory overhead cost variance report Tannin...Ch. 9 - Prob. 19ECh. 9 - Prob. 20ECh. 9 - Income statement indicating standard cost...Ch. 9 - Prob. 22ECh. 9 - Prob. 23ECh. 9 - Rosenberry Company computed the following revenue...Ch. 9 - Lowell Manufacturing Inc. has a normal selling...Ch. 9 - Shasta Fixture Company manufactures faucets in a...Ch. 9 - Flexible budgeting and variance analysis I Love My...Ch. 9 - Direct materials, direct labor, and factory...Ch. 9 - Factory overhead cost variance report Tiger...Ch. 9 - CodeHead Software Inc. does software development....Ch. 9 - Direct materials and direct labor variance...Ch. 9 - Flexible budgeting and variance analysis Im Really...Ch. 9 - Direct materials, direct labor, and factory...Ch. 9 - Factory overhead cost variance report Feeling...Ch. 9 - Prob. 5PBCh. 9 - Prob. 1COMPCh. 9 - Advent Software uses standards to manage the cost...Ch. 9 - Prob. 2MADCh. 9 - Prob. 3MADCh. 9 - Prob. 4MADCh. 9 - Ethics in action Dash Riprock is a cost analyst...Ch. 9 - Variance interpretation Vanadium Audio Inc. is a...Ch. 9 - MinnOil performs oil changes and other minor...Ch. 9 - Marten Company has a cost-benefit policy to...Ch. 9 - Prob. 3CMACh. 9 - JoyT Company manufactures Maxi Dolls for sale in...
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What is variance analysis?; Author: Corporate finance institute;https://www.youtube.com/watch?v=SMTa1lZu7Qw;License: Standard YouTube License, CC-BY