6 Data 8etion: Materials proa \'artanoglnput 9 $15.90 $16.00 Actual oost of mate

Question

6 Data 8etion: Materials proa 'artanoglnput 9 $15.90 $16.00 Actual oost of material perpound (ouroa, .) 10 Sta ndard oost of mat par pound (ounoe, ato 12 Matarials quant ty varlanoe Input 13 Aotual quant ity of matorbls used 14 Standard qu antity of mat. used for act ual o utput 15 16 Labor ra to va rbin oe ih put 17 Aotual oost of laborparhour 18 Standard oost of bbor par hour 19 20 Labor molanay va rhn ceInp ut 21 Aotual quant ity of hours Incurrad 22 Standard qu antit y of ho urofor a ctual out put 23 24 26 Answer Section: 26 39,500 38.05 44,000 Indiloato ForU only 28 Matarial price varence 29 Matarial quant ity varianco 30 31 Total matorialo variance 32 33 Laborrate va rance FORMULA1 FORMULA2 FORMULAS FORMULA FORMULA3 FORMULATO FORMULA FORMULAS FORMULA11 FORMULA12 35 36 Total abor variancoe FORMULAS FORMULA13 37 38 39 Total matarials an d iabor varances FORMULA

Explanation / Answer

Standard Cost Sheet: Qty Rate PU Direct Material 38000 16.00 608000 Direct Labor 44000 8.05 354200 962200 Actual Data: Qty Rate PU Direct Material 39500 15.90 628050 Direct Labor 45600 8.00 364800 992850 Material Price Variance: (Standard Price-Actual Price)Actual Quantity (16-15.90)*39500 3950 Favourable Material Quantity Variance: (Standard Quantity-Actual Quantity)Standard Price (38000-39500)*16 -24000 Unfavourable Total Material Variance (Standard Cost of Materials-Actual Cost of Materials) (608000-628050) -20050 Unfavourable Labor Price Variance: (Standard Price-Actual Price)Actual Quantity (8.05-8.00)*45600 2280 Favourable Labor Quantity Variance: (Standard Quantity-Actual Quantity)Standard Price (44000-45600)*8.05 -12880 Unfavourable Total Labor Variance (Standard Cost of Labor-Actual Cost of Labor) (354200-364800) -10600 Unfavourable Total Material & Labor Variance Standard Cost-Actual Cost (962200-992850) -30650 Unfavourable

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