PLEASE SOLVE Ch8 Homework Problem F Based on a standard volume of output of 96,0

Question

PLEASE SOLVE

Ch8 Homework Problem F Based on a standard volume of output of 96,000 units per month, the standard cost per unit of the product manufactured by Tahoe Company consists of: Direct materials (0.25 pounds x S8 per pound) Direct labor (0.5 hours x $7.60 per hour) Variable manufacturing overhead Fixed manufacturing overhead ($144,000 in total)1.50 Total $2.00 3.80 2.50 $9.80 A total of 25,200 pounds of materials was purchased at $8.40 per pound. During May, 98,400 units were produced with the following costs: Direct materials used (24,000 pounds at S8.40) Direct labor (50,000 hours at $7.80) Variable manufacturing overhead Fixed manufacturing overhead $201,600 390,000 249,000 145,000 Compute the materials price and usage variances, the labor rate and efficiency variances, and the overhead budget and volume variances. (Overhead is applied based on units produced.)

Explanation / Answer

Solution:

Material price variance Actual Cost Standard cost for actual quantity purchased AQ * AP = AQ * SP = 25200 $8.40 $211,680.00 25200 $8.00 $201,600.00 $10,080 U Direct Material Price Variance

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