Price V Acct 204 Spring 201S at a standard cost of $15 per hour Last month nploy

Question

Price V Acct 204 Spring 201S at a standard cost of $15 per hour Last month nployees 2,500 units. The total labor cost daring this period was $29,184. What was de variance for this last pay period7 standard A. 5816 Unfavorable B. 5816 Favorable C. $1,200 Favorable D. $1,200 Unfavorable 2499 2. Your Company's materials quantity variance was $54,000 unfaverable, The standard corst per pound is $12.00 and 30 pounds are allowed for each unit of output. Records show that 43,500 pounds of material were used. How many units of output were actually prodaced? A 150 C. 1450 D. 1,600 B. 1,300 3. The following data have been provided by Your Corporation: 7,000 motors Budgeted production. Standard machine-hours per motor Standard indirect labor$7.10 per machine-hour Standard power 8.6 machine-hours $1.40 per machine-hour 7,300 motors Actual production Actual machine-hours (total..62,140 machine-hours Actual indirect labor (total $48,340 $94,989 Actual power (total). The variable overhead spending variance for power is: A) $7,097 U B) $7,097 F C) $896 F D) $7,993 U

Explanation / Answer

1

Labor efficency variane = (Actual Hour - Standard Hour)*Standard Rate

=(1920-8/10*2500)*15=1200 Favorable Variance

2

Let X =units Produced

Material Efficency variance =(Actual material Consumed -Unit Produced*Stadared QTy)

(43500-30*X)*12=54000

Solving X we get X=1300 Units Produced

3

=Actual hours worked x (Actual overhead rate - standard overhead rate)
=62140*(1.40-94989/62140)

=7993

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.