123456You are provided with the following information=== 2 CARRARA = AEREDirect materialsDirect labor7 Variable manufacturing overhead89 Actual results:10Actual output i11 Actual variable manufacturing overhead cost $121314 Actual direct materials cost15 Actual direct labor cost16pare18 the information above to calculate the variances20211 Use ABS() formula for variances3425202728ActualQuantity29130Inputs41MAActual PriceActualStandard Quantity2.9 pounds0.65 hours0.65 hoursActual Quantity6,550 pounds1,120 hours2,120 units7,260$$Actual QuantityActual Hours$$$Actual Price:3.97 per pound21.35 per hourDirect MaterialsDirect LaborStandard Price4.15 per pound22.00 per hour5.89 per hourStandard PriceStandard RateStandardQuantityStandardHevesHotelPrice

Name: 123456You are provided with the following information=== 2 CARRARA =
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Description: 123456You are provided with the following information=== 2 CARRARA = AEREDirect materialsDirect labor7 Variable manufacturing overhead89 Actual results:10Actual output i11 Actual variable manufacturing overhead cost $121314 Actual direct materials c

Direct costs are the expenses that are directly used for the production of goods and services for…

Business

Accounting

1 2 3 4 5 Direct materials 6 Direct labor 7 Variable manufacturing overhead 8 9 Actual results: 10 11 ======AAR **** 12 13 You are provided with the following information inputs 16 14 Actual direct materials cost 15 Actual direct labor cost 20 Actual output Actual variable manufacturing overhead cost $ ar pares 18the information above to calculate the variances 1 Use ABS formula for variances 21 Actual Santy Actual Price Actual Rate Standard Quantity 2.9 pounds 0.65 hours 0.65 hours Actual Quantity 6,550 pounds 1,120 hours 2,120 units 7,260 $ $ $ Actual Quantity $ $ Direct Materials Actual Price 3.97 per pound 21.35 per hour Standard Price 4.15 per pound Direct Labor 22.00 per hour 5.89 per hour Standard Price Standard Rate Standard Quantity Standard Hevn Standard Price Apie

1 2 3 4 5 Direct materials 6 Direct labor 7 Variable manufacturing overhead 8 9 Actual results: 10 11 ======AAR **** 12 13 You are provided with the following information inputs 16 14 Actual direct materials cost 15 Actual direct labor cost 20 Actual output Actual variable manufacturing overhead cost $ ar pares 18the information above to calculate the variances 1 Use ABS formula for variances 21 Actual Santy Actual Price Actual Rate Standard Quantity 2.9 pounds 0.65 hours 0.65 hours Actual Quantity 6,550 pounds 1,120 hours 2,120 units 7,260 $ $ $ Actual Quantity $ $ Direct Materials Actual Price 3.97 per pound 21.35 per hour Standard Price 4.15 per pound Direct Labor 22.00 per hour 5.89 per hour Standard Price Standard Rate Standard Quantity Standard Hevn Standard Price Apie

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter8: Standard Cost Accounting—materials, Labor, And Factory Overhead

Section: Chapter Questions

Problem 23E: (Appendix) Calculating factory overhead: three variances Using the data given in E8-17, calculate...

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Basic Variance Analysis and the Impact of Variances on Unit Costs - Excel Sign In FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Calibri 11 A A % Alignment Number Conditional Format as Formatting Table Styles Paste В I U Cell Cells Editing Clipboard Font Styles G26 fe A B E G H 3 Direct materials: 4 Standard $2.75 per yard $2.70 per yard 2.4 yards @ $6.60 5 Actual 3 yards @ $8.10 6 Direct labor: 7 Standard 8 Actual 9 Variable overhead: 10 Standard 0.6 hours @ $18.00 per hour $22.00 per hour 10.80 0.5 hours @ 11.00 0.6 hours @ $7.00 per hour $7.10 per hour 4.20 11 Actual 0.5 hours @ 3.55 12 13 Total cost per unit $21.60 $22.65 14 15 Excess of actual cost over standard cost per unit $1.05 16 17 Actual production for the month 18 Variable overhead is assigned to products based on direct labor hours. There 19 was no beginning or ending inventory of materials for the month. 13,500 units 20 21 Using formulas, compute the following. Input all numbers as positive amounts. Indicate…
Longman, Inc. is a manufacturer of lead crystal glasses. The standard direct materials quantity is 0.9 pound per glass at a cost of $0.50 per pound. The actual result for one month's production of 7,100 glasses was 1.4 pounds per glass, at a cost of $0.40 per pound. Calculate the direct materials cost variance and the direct materials efficiency variance. .....
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2.2 Use the information provided below to calculate the following manufacturing variances for March2022. Note: Each answer must state whether the variance is favourable or unfavourable2.2.1 Labour rate variance 2.2.2 Labour efficiency variance 2.2.3 Variable overheads efficiency variance Variable overheads expenditure variance INFORMATIONNevada Limited set a standard labour rate of R32 per hour and a standard variable overhead rate of R3.80 perlabour hour.Actual hours worked for March 2022 were 4 910 at a cost of R149 264. The actual variable overhead cost incurredwas R19 640. The standard allowance of labour hours for the output achieved was 5 000 hours.
1 S 3. Compute the variable manufacturing overhead spending and efficiency variances. (Indicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).) Book Variable overhead sponding variance S Variable overhead efficiency variance 1 U 1 F Print 4. Compute the fixed overhead budget and volume variances. (Indicate the effect of variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (I.e., zero variance).) Fixed overhead budget variance $ Fixed overhead volumne variance $ 1U 0 Nono