Required informationUse the following information for the Exercises below. (Algo)[The following information applies to the questions displayed below.]A manufactured product has the following information for June.Direct materialsDirect laborOverheadUnits manufacturedExercise 21-10 (Algo) Direct labor variances LO P3Standard Quantity and Cost6 pounds @ $9 per pound3 DLH @ $17 per DLH3 DLH @ $11 per DLHAH = Actual HoursSH = Standard HoursAR Actual RateSR Standard RateActual CostActual Results45,500 pounds @ $9.20 per pound22,300 hours @ $17.50 per hour$ 254,300Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selectingfavorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.)7,500 unitsStandard Cost

Lets understand the basics. Direct labor rate variance is a variance between the rate at which labor…

Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard Quantity and Cost 6 pounds @ $9 per pound 3 DLH@ $17 per DLH 3 DLH @ $11 per DLH Direct materials. Direct labor Overhead Units manufactured Actual Results 45,500 pounds @ $9.20 per pound 22,300 hours @ $17.50 per hour $ 254,300 7,500 units

Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard Quantity and Cost 6 pounds @ $9 per pound 3 DLH@ $17 per DLH 3 DLH @ $11 per DLH Direct materials. Direct labor Overhead Units manufactured Actual Results 45,500 pounds @ $9.20 per pound 22,300 hours @ $17.50 per hour $ 254,300 7,500 units

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter9: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 1PB: Direct materials and direct labor variance analysis Lenni Clothing Co. manufactures clothing in a...

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Glacier Bicycle Company manufactures commuter bicycles from recycled materials. The following data for October are available: a. Determine for October the direct labor rate variance, direct labor time variance, and total direct labor cost variance. b. How much direct labor should be debited to Work in Process?
Direct materials and direct labor variance analysis Lenni Clothing Co. manufactures clothing in a small manufacturing facility. Manufacturing has 25 employees. Each employee presently provides 40 hours of productive labor per week. Information about a production week is as follows: Instructions Determine (A) the standard cost per unit for direct materials and direct labor; (B) the price variance, quantity variance, and total direct materials cost variance; and (C) the rate variance, time variance, and total direct labor cost variance.
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
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 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
Required information Use the following information for the Exercises below. (Algo) [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 Exercise 21-9 (Algo) Direct materials variances LO P3 Standard Quantity and Cost 6 pounds @ $9 per pound 3 DLH @ $17 per DLH 3 DLH @ $11 per DLH AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Actual Cost Actual Results 45,500 pounds @ $9.20 per pound 22,300 hours @ $17.50 per hour $ 254,300 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.) 7,500 units Standard Cost
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 Standard Quantity and Cost 6 pounds @ $8 per pound 3 DLH @ $16 per DLH 3 DLH @ $13 per DLH (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for June production. (3) Compute total actual cost for June production. (4) Compute total cost variance for June. Actual Results 43,700 pounds @ $8.20 per pound 21,400 hours @ $16.60 per hour $ 287,500 7,200 units
Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard Quantity and Cost 6 pounds @ $8 per pound 3 DLH @ $16 per DLH 3 DLH @ $12 per DLH Direct materials Direct labor Overhead Units manufactured (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for June production. (3) Compute total actual cost for June production. (4) Compute total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Direct materials Direct labor Overhead Total Required 3 Prepare the standard cost card showing standard cost per unit. $ Required 4 Actual Results 46,100 pounds @ $8.20 per pound 22,500 hours @ $16.50 per hour $ 278,600 7,600 units < Required 1 Required 2
[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 7 pounds @ $7 per pound 2 DLH@ $16 per DLH 2 DLH @ $12 per DLH Compute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each varlance by selecting favorable, unfavorable, or no varlance. Round "Cost per unit" answers to 2 decimal places.) Actual Cost Actual Results 58,600 pounds @ $7.20 per pound 16,300 hours@ $16.50 per hour $ 205,500 8,300 units Standard Cost
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 (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for June production. (3) Compute total actual cost for June production. (4) Compute total cost variance for June. Standard Quantity and Cost 6 pounds @ $8 per pound. 3 DLH@ $16 per DLH 3 DLH @ $13 per DLH Required 1 Complete this question by entering your answers in the tabs below. Required 4 Prepare the standard cost card showing standard cost per unit. Required 2 Direct materials Direct labor Overhead Total Required 3 Actual Results 44,300 pounds @ $8.10 per pound 21,500 hours @ $16.50 per hour $ 291, 200 7,300 units
A manufactured product has the following Information for August. Direct materials Direct labor Overhead Standard Quantity and Cost 2 pounds per unit @ ss.ee per pound e.5 hour per unit @ $60 per DLH $78 per DLH Units manufactured Total manufacturing costs (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for production In August. (3) Compute the total cost variance for August. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the standard cost card showing standard cost per unit. Note: Round your final answers to 2 decimal places. Inputs Direct materials Direct labor Overhead Standard quantity or hours pounds x DLH x DLH x Required 1 Required 2 Required 3 Standard price or rate Standard cost per unit Compute total budgeted cost for production in August. Total budgeted cost Required 1 Required 2 Required 3 Actual Results 14,200 units $ 1,203,400 Compute the total cost variance…
! 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 (1) Compute the standard cost per unit. (2) Compute the total cost variance for June. Required 1 Standard 5 lbs. @ $9 per lb. 2 hrs. @ $16 per hr. 2 hrs. @ $12 per hr. Complete this question by entering your answers in the tabs below. Required 2 Direct materials Direct labor Overhead Total Compute the standard cost per unit. Actual 41,500 lbs. @ $9.10 per lb. 16,100 hrs. @ $16.50 per hr. $202,900 8,200
A manufactured product has the following information for June. Standard Quantity and Cost 6 pounds $9 per pound i 2 DLH $15 per DLH 2 DLH @ $12 per DLH Direct materials Direct labor Overhead Units manufactured AQ = Actual Quantity SQ Standard Quantity AP = Actual Price SP Standard Price Exercise 21-9 (Algo) Direct materials variances LO P3 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 51,500 pounds @ $9.10 per pound 16,700 hours $15.50 per hour 0 0 $ 209,200 8,500 units $ 0 Standard Cost