Please help me with this question. (Please break down in table format) Please ch

Question

Please help me with this question. (Please break down in table format)

Please check answer for 1&2.

Please breakdown in a written table how I should enter the solution for these two tables below. I don't understand accounting and Im having a very hard time. :(

-Also, please mention if the Direct materials Price Variance, Efficiency and labor variance are favorable, no variance or unfavorable. (Please breakdown in table format)

For this question below please help me with the "Total overhead costs". The last line, and check to see if my answers are correct. (Please breakdown in table format)

Explanation / Answer

Answer:3

Direct material price variance = AQ *SP - AQ* AP

= 61500*$4 - 61500*$4.20

= $246000 - $258300

= $12300 U

Direct material quantity variance = SP *SQ - SP*AQ

=$4 (20000*75%*4lbs.) - $4*61500

= $4* 60000 - $4*61500

*$240000 - $246000

= $6000 U

Total direct material variance = Direct material price variance+Direct material quantity variance

= $12300 U+$6000 U= $18300 U

Answer:4

Direct labor cost variance = AH * SR - AH*AR

= 29000*$13 - 29000* $13.30

=$377000 - $385700

= $8700 U

Direct labor efficiency variance = SR *SH - SR*AH

= $13 (20000*75%*1.9 hrs.) -$13* 29000

= $13 *28500 - $13*29000

= $370500 - $377000

= $6500 U

Total direct labor variance = Direct labor cost variance+Direct labor efficiency variance

= $8700 U+$6500 U

= $15200 U

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