1. Tidd Corporation makes a product with the following standard costs: Inputs St
ID: 2344438 • Letter: 1
Question
1. Tidd Corporation makes a product with the following standard costs:Inputs Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit
Direct materials 4.7 grams $2.00 per gram $9.40
Direct labor 0.6 hours $11.00 per hour $6.60
Variable overhead 0.6 hours $4.00 per hour $2.40
The company reported the following results concerning this product in November.
Originally budgeted output 9,100 units
Actual output 9,200 units
Raw materials used in production 44,830 grams
Purchases of raw materials 47,320 grams
Actual direct labor-hours 7,890 hours
Actual cost of raw materials purchases $132,460
Actual direct labor cost $125,153
Actual variable overhead cost $29,926
The company applies variable overhead on the basis of direct labor-hours. The direct materials price variance is computed when the materials are purchased.
The variable overhead rate variance for November is: (Do not round intermediate calculations.)
$1,634 U
$1,500 U
$1,500 F
$1,634 F
2. Hurren Corporation makes a product with the following standard costs:
Inputs Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit
Direct materials 5.3 grams $7.00 per gram $37.10
Direct labor 1.6 hours $18.00 per hour $28.80
Variable overhead 1.6 hours $7.00 per hour $11.20
The company reported the following results concerning this product in June.
Originally budgeted output 5,700 units
Actual output 5,600 units
Raw materials used in production 28,470 grams
Actual direct labor-hours 5,400 hours
Purchases of raw materials 32,700 grams
Actual price of raw materials purchased $7.10 per gram
Actual direct labor rate $18.90 per hour
Actual variable overhead rate $6.70 per hour
The company applies variable overhead on the basis of direct labor-hours. The direct materials price variance is computed when the materials are purchased.
The materials quantity variance for June is:
$8,470 F
$8,591 F
$8,591 U
$8,470 U
3. Tidd Corporation makes a product with the following standard costs:
Inputs Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit
Direct materials 5.1 grams $4.00 per gram $20.40
Direct labor 0.8 hours $19.00 per hour $15.20
Variable overhead 0.8 hours $4.00 per hour $3.20
The company reported the following results concerning this product in November.
Originally budgeted output 9,900 units
Actual output 8,600 units
Raw materials used in production 44,910 grams
Purchases of raw materials 47,400 grams
Actual direct labor-hours 7,970 hours
Actual cost of raw materials purchases $132,540
Actual direct labor cost $125,233
Actual variable overhead cost $27,506
The company applies variable overhead on the basis of direct labor-hours. The direct materials price variance is computed when the materials are purchased.
The materials quantity variance for November is:
$2,936 F
$4,200 U
$2,936 U
$4,200 F
4. Rostad Corporation applies manufacturing overhead to products on the basis of standard machine-hours. Budgeted and actual overhead costs for the most recent month appear below:
Original Budget Actual Costs
Variable overhead costs:
Supplies $6,700 $6,890
Indirect labor 10,610 9,960
Fixed overhead costs:
Supervision 14,510 14,380
Utilities 13,800 13,850
Factory depreciation
58,050
58,130
Total overhead costs
$103,670
$103,210
The company based its original budget on 6,800 machine-hours. The company actually worked 6,760 machine-hours during the month. The standard hours allowed for the actual output of the month totaled 6,690 machine-hours. What was the overall fixed manufacturing overhead volume variance for the month? (Do not round intermediate calculations.)
$1,301 unfavorable
$1,301 favorable
$1,397 favorable
$1,397 unfavorable
5. The Malcolm Company uses a standard cost system in which manufacturing overhead costs are applied to products on the basis of standard direct labor-hours (DLHs). The standards call for 4 hours of direct labor per unit produced. The following data pertain to the company's manufacturing overhead for the month of July:
Actual fixed manufacturing overhead costs incurred $28,440
Denominator activity 6,325 DLHs
Number of units produced 3,800 units
Budget variance $3,140 Unfavorable
The Fixed component of the predetermined overhead rate for June is: (Round your answer to 2 decimal places.)
$4.77
$4.50
$4.00
$4.11
6. The Geurtz Company uses standard costing. The company makes and sells a single product called a Roff. The following data are for the month of August:
Explanation / Answer
the answers are all wrong. number 14 is 4950 U ( 5500X(10.90-10.00))
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