iPad 9:11 AMM 75% Bullseye Company manufactures dartboards. Its standard cost in
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iPad 9:11 AMM 75% Bullseye Company manufactures dartboards. Its standard cost information follows Standard Quantty Standard Price (Rate) Direct materials (cork board Direct labor Variable manufacturing overhead (based on Unit Cost 725 11.00 0.40 2.50 sq. t. 290 per sq.t $ 0.40 per hr direct labor hours) Fixed manufacturing overhead (S68.250 0.35 195,000 units) Bullseye has the following actual results for the month of September Number of units produced and sold Number o square feet of corkboard used Cost of corkboard used Number of labor hours worked Direct labor cost 175.000 450.000 $1.350.000 51.888.500 Fixed overhead cost 5 59.000 Required 1. Calculate the direct materials price, quantity, and total spending variances for Bulseye. (Do not round your intermediate caleulations Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable. Direct Maberials Price Variance Direct Materials Quantity Variance Direct Materials Spending Variance 2. Calculate the direct labor rate, efficiency, and total spending variances for Builseye (Do not round your intermediate calculations Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable. Direct Labor Rate Variance Direct Labor Efficienay Variance Direct Labor Spending Variance 3. Calculate the variable overhead rate, efficiency, and total spending variances for Bulseye. (Do not round your intermediate caleulations. Indicate the effect of each variance by selecting "F for favorablelOverapplied and "U for unfavorablelunderapplied.) Variable Overhead Rate Variance Variable Overhead Eiciency Variance Variable Overhead Spending VarianceExplanation / Answer
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Standard Qty for 175000 (175000*Column C) Standard Quantity (SQ) Standard Price (SP) Standard Unit Cost Direct Material 437500 2.5 2.9 7.25 Direct Labor 175000 1 11 11 Variable MOH 175000 1 0.4 0.4 Fixed MOH (68250/195000) 0.35 Acutal Unit Produced 175000 Actual Quantity Actual Quantity per unit(AQ) Total/175000 Actual Rate (AP) (Cost/AQ) Actual Cost Direct Material 450000 2.57 3 1350000 Direct Labor 185000 1.06 10.1 1868500 Variable MOH 185000 1.06 0.41 76000 Fixed MOH 59000 Direct Material Price Variance (SP-AP)*AQ (2.9-3)*450000 -45000 Unfavorable Direct Material Quantity Variance (SQ-AQ)*SP (437500-450000)*2.9 -36250 Favorable Direct Material Spending Variance Price Var+Quantity Var -81250 Unfavorable Direct Labor Rate Variance (SP-AP)*AQ (11-10.1)*185000 166500 Favorable Direct Labor Efficiency Variance (SQ-AQ)*SP (175000-185000)*11 -110000 Unfavorable Direct Labor Spending Variance Price Var+Quantity Var 56500 Favorable Direct Var Ovh Rate Variance (SP-AP)*AQ (0.4-0.41)*185000 -1850 Unfavorable Direct Var OVH Efficiency Variance (SQ-AQ)*SP (175000-185000)*0.4 -4000 Unfavorable Direct Var OVH Spending Variance Price Var+Quantity Var -5850 UnfavorableRelated Questions
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