Please answer Questions 1, Question 2, Question 3, Question 4, and Question 5. I

Question

Please answer Questions 1, Question 2, Question 3, Question 4, and Question 5. I have each Question in bold so you will be easily able to tell each question. When you answer the 5 questions please show detailed steps along with caluclations so I can see how you came up with the answer. Again, please answer ALL 5 QUESTIONS, showing CALCULATIONS and detailed STEPS, as well as the ANSWERS. Question 1: Use the following for the next five questions: The following data is given for the Walker Compan Budgeted production.1,000 units Actual product Materials: 980 units $2.00 Standard price per lb Standard pounds per completed unit Actual pounds purchased and used in production.1,800 Actual price paid for materials $23,000 Labor: Standard hourly labor rat.14 per hour Standard hours allowed per completed unit...4.5 Actual labor hours worked..4,560 Actual total labor costs..2,928 The direct material price variance is: A) S600 F B) S600 U C) $80 F D) $80 U

Explanation / Answer

ANSWERS

1.Direct material price variance = (SP-AP)*AQ

=[$2.00-($23000/1100)]* 11800

= ($2.00-1.9491)* 11800

=$600 F

aswer is A.

2. direct material quantity variance = (SQ-AQ) * SP

=[(12 * 980)- 11800] * $2.00

=$80 U

answer is D

3. Direct labor rate variance = (SR-AR) * AH

=[$14 - ($62928/4560)] * 4560

=$912 F

answer is B

4. Direct labor efficiency variance = (SH - AH) * SR

=[(4.5 * 980) - 4560] * $14

=$2100 U

answer is C

5. Total direct labor variance = $912F + $2100 U

=$1188 U

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