#title.standard cost and variances., Managerial Accounting

Direct materials,4yard at$3.50per yard...$14.00
Direct labor,1.5direct labor hours at $12.00 per direct labor hour....$18
Variableoverhead,1.5 direct labour hours at $2.00 per direct labor hour...$3.00
Fixed overhead,1.5direct labor hours at$6.00 per direct labor hour...$9.00
standard cost per unit............$44.00
The ff additional information is available for the year just completed
a)the company manufatured 20,000units of product during the year
b)A total of 78,000 yards of material was during the year at a cost of $3.75 per yard.All of these material was used to manufacture the 20,000 units. There was no beginning or ending inventories for the year
c)The company worked 32,500 direct labor hours during the year at a cost of $11.80 per hour.
d)Overhead cost is applied to product on the basis of standard direct labor hours.Data relating to manufacturing overhead cost follows
Denominator activity level(directlabor hours).....25,000
Budgeted fixed overhead costs...$150,000
Actual fixed overhead costs....$148,000
Actual variable overhead costs...$68,250
Required
1)compute the direct material price and quantity variances for the year
2)Compute direct labor rate and efficiency variances for the year
3)For manufacturing overhead,compute the ff:
a)The variable overhead rate and efficiency variances for the year
b)The fixed overhead budget and volume variances for the year

Posted Date: 11/16/2012 10:59:18 PM | Location : United States







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