Calculate the variable overhead efficiency

Assignment Help Accounting Basics
Reference no: EM131977431

Problem


Standard Quantity or Hours

Standard Price or Rate

Direct materials

3 kilos

$3.00 per kilo

Direct labor

0.2 hours

$20.00 per hour

Variable Overhead

0.2 hours

$4.00 per hour

In June the company produced 9,100 units using 27,010 kilos of the direct material and 1,800 direct labor-hours. During the month the company purchased 27,010 kilos of the direct material at a price of $3.70 per kilo. The actual direct labor rate was $19.90 per hour and the actual variable overhead rate was $4.20 per hour. Variable overhead is applied on the basis of direct labor-hours.

Required:

a. Compute the materials quantity variance.
b. Compute the materials price variance.
c. Compute the labor efficiency variance.
d. Compute the labor rate variance.
e. Compute the variable overhead efficiency variance.
f. Compute the variable overhead rate variance.

Reference no: EM131977431

Questions Cloud

Defines the concepts related to conception : Defines the following concepts related to conception, development of the embryo and fetus:
What are the fixed and variable cost of the havana pantaloon : For the black and stripes together, what are the fixed and variable cost of the Havana pantaloons? Jack's discount rate is still 38%.
Compute the average manufacturing cost per unit : Stacy's Manufacturing Company manufactures parts. Compute the average manufacturing cost per unit. What is the amount of ending finished goods inventory?
Defines domestic violence : Mention and describe four (4) common types of abuse. Describe the three (3) phases of the cycle of violence.
Calculate the variable overhead efficiency : Compute the materials price variance. Compute the labor efficiency variance. Compute the labor rate variance. Calculate the variable overhead efficiency.
Create your won discussion prompt based on your research : Questioning compels thinking and , as thinkers, you assess what your read and incorporate knowledge with your prior understanding of the subject.
List epigenetic modification associated : 1. List epigenetic modification associated with A) transcriptional activation B) transcriptional repression.
List the different types of karyopherin : 1. List the different types of karyopherin (importing/exporting) with their respective cargo?
Compute the direct labor price and efficiency variances : The standard direct labor cost per unit for a company was $32. Compute the direct labor price and efficiency variances for the period.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd