What is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Round your answers to the nearest dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
Q: Required: a. What is the variable overhead rate variance for the month? b. What is the variable…
A: Actual Output = 1770 units Standard Hours per unit = 4.7 hours Standard Hours for Actual Output =…
Q: The flexible budget variance for fixed overhead is known as the A.) Static budget variance. B.)…
A: Flexible budget variance for fixed overhead is the difference between Actual fixed overhead and…
Q: Material Cost Variance can be segregated between: a. Mix Variance and Yield Variance b. Usage…
A: solution concept material cost variance material cost variance is divided into material price…
Q: Considering the variance analysis, which of the following statements is true? O a. When there is…
A:
Q: A company using direct costing in its performance evaluation would normally include the following…
A: Direct costing refers to the concept of evaluating the cost or expenses by only considering the…
Q: Which of the following is FALSE regarding variances? O A favorable variance, when it occurred, are…
A: The method of costing used to determine deviations is referred to as standard costing. The standard…
Q: For each of the following independent cases, fill in the missing amounts in the table: (Indicate the…
A: The variance is the difference between standard and actual production data of the production. Direct…
Q: Required: a. Determine the direct materials price variance, direct materials quantity variance, and…
A: Standard costing: Standard costing consists of the setting of the predetermined estimate of costs…
Q: a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost…
A: Solution:- a)Calculation of Direct labor rate variance as follows under:- labor rate variance
Q: direct labor rate variance and the direct labor efficiency variance
A:
Q: 1. What is meant by the total operating-income variance for a given accounting period? What…
A: 1. Explain the meaning of total operating income variance for the given accounting period, and state…
Q: 1 F or 11,111 U Total gross profit variance = Price varianc
A: Price variance refers to the actual unit cost of an item bought deducted from its standard cost and…
Q: For each of the following independent cases, fill in the missing amounts in the table: (Indicate the…
A: Direct labor spending variance: A spending variance is the difference in actual direct labor cost…
Q: Which of the following is NOT true? Multiple Choice An activity variances describes the…
A: Activity Variance The term which are used in the costing techniques which describes as difference…
Q: For each of the following independent cases, fill in the missing amounts in the table: (Indicate the…
A: Direct labor rate variance refers to the difference between actual and standard cost of direct labor…
Q: (1) What is a direct labor variance and how is it calculated?
A: Meaning : Standard costing is a technique of cost accounting in which standards are set for…
Q: b. Determine the direct materials price variance, direct materials quantity variance, and total…
A: a) Calculation of Direct material standard cost per unit: Standard number of lb. of brass per faucet…
Q: 1. Material price variance, Material quantity variance, and Total material variance 2. Labor rate…
A: working notes AQ means actual quantity AP means actual price SP means standard price SQ means…
Q: For each of the following independent cases, fill in the missing amounts in the table: (Indicate the…
A: Direct labor: Direct labor includes the wages of the employees who are directly involved in…
Q: Total gross profit variance = Price variance = Price-Quantity variance = Cost variance =…
A: Variance is the deviation between actual figures and budgeted figures. If the deviation or change is…
Q: Considering the variance analysis, which of the following statements is true?
A: Variance analysis is the analysis which is the analysis only possible when the company has a…
Q: Compute for the following: Sales price variance Cost price variance Quantity variance Format:…
A: Variance is calculated for comparing results either between two years or between budget and actuals.…
Q: me Variance F.) Total Gross Profit Variance G.) Price Variance H.) Price-Quantity Variance I.) Cost…
A:
Q: When is the direct labor time variance favorable? A. when the actual quantity used is greater than…
A: Direct labor time is the time taken o produce a unit . when the standard time to make a unit is less…
Q: Using the data below, answer the questions about the Direct Materials Cost (DMC) variances and the…
A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: 1. Explain the total sales volume variance for a period. How can this total variance be…
A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…
Q: When is the direcet labor time variance unfavorable? A. when the actual quantity used is greater…
A: Direct Labor Rate Variance: The difference between the actual cost of direct labor and the standard…
Q: A D 1 Chapter 09: Applying Excel 2 3 Data Exhibit 9-8: Standard Cost Card 4 Inputs Standard Quantity…
A: Direct Material price variance = (Actual price per pound - Standard price per pound)*Actual quantity…
Q: Thomas' direct-labor rate variance was:
A: Direct Labor rate Variance is the Variance for the difference between Actual rate and Standard Rate…
Q: How is the fixed overhead volume variance different from the other variances?
A: Variance: Variance refers to the difference level in the actual cost incurred and standard cost.…
Q: G. H. I. J. Budget Perf
A: The term with definition as,
Q: Which of the following set of terms describes the same type of variance? Price variance, rate…
A: The variance is calculated as difference between the actual results and standard output.
Q: The sales price factor shows a variance of * D
A: Variance caused by selling price in total sales is known as sales price Variance. Formula: Sales…
Q: Poorly trained workers could have an unfavorable effect on which of the following variances?…
A: Poorly trained workers can cause more usage of materials or more time for the job. So poorly…
Q: Complete the table belovw for the missing variances. E (Click the icon to view the table.) Calculate…
A: Direct labor total cost variance shows the impact of any overall change in the amount spent on…
Q: The sales price factor shows a variance of
A: Sales price variance is the variance how much the deviation has been made during the year. It means…
Q: units. For the three questions below, indicate two things: the amount of variance AND whether the…
A: ANSWER : FIRST LET US LIST ALL THE INFORMATION GIVEN : STANDARD RATE PER HOUR (SR) = 12 STANDARD…
Q: (1) Compute the direct materials price and quantity variances. (Indicate the effect of each variance…
A: Solution: Direct material quantity variance is also called as direct material usage or efficiency…
Q: a. Break down the material cost variance into different related variances: price variance, usage…
A: Variance analysis: It is the technique in budgeting that allows for analysis of the variances…
Q: Help question 26
A: False. Price variance is the difference between the Standard price of the input and actual price of…
Q: In performing Variance Analysis for Direct Material costs, the variances include Price and Rate…
A: While performing Variance analysis for Direct Material Costs include Direct Material Price Variance…
Q: Determine the direct materials quantity and direct labor time variances. Round your per unit…
A: To calculate variance direct materials quantity the following formula can be used Statement finding…
Q: Which of the following variances cannot occur together during the same accounting period? Select…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: Which of the following is FALSE regarding variances? O A favorable variance, when it occurred, are…
A: Standard costing refers to the method of costing used to find out the variances. Standard overhead…
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- Using the data in P4-2 and Microsoft Excel: 1. Separate the variable and fixed elements. 2. Determine the cost to be charged to the product for the year. 3. Determine the cost to be charged to factory overhead for the year. 4. Determine the plotted data points using Chart Wizard. 5. Determine R2. 6. How do these solutions compare to the solutions in P4-2 and P4-3? 7. What does R2 tell you about this cost model?The managerial accountant at Sunny Manufacturing needs to determine how many costs are fixed costs and how many costs are variable costs in the organization. The managerial accountant reported the following information: Use the high-low method to determine the cost equation and use machine hours as the base for a cost driver in the analysis. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). Month Machine-Hours Total Cost January 1,800 $21,500 February 2,900 $23,200 March 1,000 $19,750 April 2,400 $21,000 May 3,400 $23,900Cost Flow Relationships The following information is available for the first year of operations of Idgie Inc., a manufacturer of fabricating equipment: $1,150,100 310,500 103,500 42,600 19,600 586,600 Total manufacturing costs for the period 1,269,700 Materials inventory, end of period 42,600 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Sales Gross profit Indirect labor Indirect materials Other factory overhead Materials purchased X Open spreadsheet Using the above information, determine the following amounts: a. Cost of goods sold 839,600 501,400 264,400 X b. Direct materials cost c. Direct labor cost $
- need answers for 1,2,3 and 4 4. Build a spreadsheet: Construct an Excel spreadsheet to solve all of the preceding requirements. Show how both cost schedules and the income statement will change if the following data change: direct labor is $390,000 and utilities cost $35,000.Required information [The following information applies to the questions displayed below.] Felix & Company reports the following information. Period Units Produced Total Costs $ 4,580 2 480 3,880 4,280 4,880 3,980 4,180 3 880 1,280 1,680 2,080 2,480 2,880 3,280 3,680 4 8,680 16,080 4,880 8 9 10 11,020 Use spreadsheet software to use ordinary least-squares regression to estimate the cost equation, including fixed and variable cost amounts. Cost equation = per unitThe following table presents the activities and activity drivers that LampPlus uses in manufacturing Product 1 and Product 2. Complete the table: Activity Design Preparation Machining Finishing Inspection Packaging Shipping Cost Activity Driver $ 39,060 Design time $ 67,650 Labor hours 105,200 Machine hours $ Batches Units Orders $ 12,720 Packages Driver Usage Prod. 1 840 3,130 209 76 Prod. 2 1,330 hours hours 300 56 Activity Rate $ $ $ $ /hour /hour 20 /hour 50 /batch 17 /unit 302 /order /package Activity Cost:Prod. 1 $ $ $ $ 34,430 31,200 Activity Cost:Prod. 2 9,690 $ 12,986 $ 19,720 3,600
- Data concerning three of Kilmon Corporation’s activity cost pools appear below: Activity Cost Pools Estimated Overhead Cost Expected Activity Assembling products $ 65,540 4,520 assembly hours Designing products $ 578,112 3,011 product design hours Setting up batches $ 41,820 820 batch set-ups Required: Compute the activity rates for each of the three cost pools. (Round your answers to 2 decimal places.) Activities Activity rate Assembly products Designing products Setting up batchesThis section has a nine-part comprehensive problem with multiple questions to address. Download the Chapter 9 Comprehensive Problem Template below to complete all parts. You will need your Bergevin and MacQueen book for reference. Redlands Inc. reported standard and actual costs for the product that it manufactures: Item Standard Actual Direct material price $3 per lb. $2 per lb. Direct materials quantity 2 lbs. 4 lbs. Direct labor price $5 $7 Direct labor quantity 3 hours 2 hours Factory overhead cost $2 per machine hour ---- Machine hours per unit 2 machine hours 3 machine hours Number of finished products made 10 12 Number of finished products sold 10 11 Sales per unit $40 $40 * Redlands used machine hours to apply factory overhead costs. The company incurred $90 actual total factory overhead costs to make the 12 products. 1. Standard product cost Item Price Quantity Total Direct materials Direct labor Factory overhead Standard…The managing director of a consulting group has the accompanying monthly data on total overhead costs and professional labor hours to bill to clients. Complete parts a through c. Click the icon to view the monthly data. a. Develop a simple linear regression model between billable hours and overhead costs. Overhead Costs = +xBillable Hours X Monthly Overhead Costs and Billable Hours Data (Round the constant to one decimal place as needed. Round the coefficient to four decimal places as needed. Do not include the $ symbol in your answers.) Overhead Costs Billable Hours 0 $315,000 3,000 $365,000 4,000 $395,000 5,000 $447,000 6,000 $530,000 7,000 $550,000 8,000
- Ziegler Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: Units Produced Total Costs 97,500 $27,165,000 112,500 29,715,000 124,500 31,755,000 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet Determine the variable cost per unit and the total fixed cost. Round your answer for variable cost to the nearest cent. Round your answer for total fixed costs to the nearest dollar. Variable cost: $fill in the blank 2 per unit Total fixed cost: $fill in the blank 3 Based on part (a), estimate the total cost for 80,000 units of production. Round your answer to the nearest dollar. Total cost for 80,000 units: $fill in the blank 4The management of a company would like to investigate the possibility of basing its predetermined overhead rate on activity at capacity. The company's controller has provided an example to illustrate how this new system would work, using machine-hours as the allocation base. Machine Hours Manufacturing Overhead Estimated 50,000 $1,855,000 Capacity 53,000 $1,855,000 Actual 52,000 $1,855,000 If the company bases its predetermined overhead rate on capacity, then how much would they show as the cost of unused capacity on their income statement? (Do not add a comma in a number, e.g., write 1000 for one thousand.) Cost of unused capacity = $Would you like to set Microsoft Edge as your default browser? Set as default of 5 Q ACtIvity 2: The following data are from the costing records of ABC Ltd. in respect of Job No. 14: Materials used BD. 2500 Direct Wages: Department A - 30 hours at BD. 6 per hour Department B - 50 hours at BD. 5 per hour Department C- 20 hours at BD. 2 per hour Overhead for these three departments were estimated as follows: Variable overheads: Department A - BD. 10000 for 2000 Direct labour hours to Department B - BD. 60000 for 3000 Direct labour hours emai Department c - BD. 80000 for 2000 Direct labour hours Fixed overheads: BD7 for 100 working hours from You are required to calculate the total cost of the above Job No.14 using job-order costing system a qu as well the price for the job to give a profit of 20% of sales. bne-tim Darticulare 888-888-8888 Ta