Question
In: Accounting
X Company manufactures dartboards. Its standard cost information follows: Standard Quantity Standard Price (Rate) Standard Unit...
X Company manufactures dartboards. Its standard cost information
follows:
| Standard Quantity | Standard Price (Rate) | Standard Unit Cost | ||||||
| Direct materials (cork board) | 3.50 | sq. ft. | $ | 2.40 | per sq. ft. | $ | 8.40 | |
| Direct labor | 1 | hrs. | $ | 11.00 | per hr. | 11.00 | ||
| Variable manufacturing overhead (based on direct labor hours) | 1 | hrs. | $ | 0.65 | per hr. | 0.65 | ||
| Fixed manufacturing overhead ($58,500 ÷ 130,000 units) | 0.45 | |||||||
X company has the following actual results for the month of
September:
| Number of units produced and sold | 110,000 | |
| Number of square feet of corkboard used | 400,000 | |
| Cost of corkboard used | $ | 1,000,000 |
| Number of labor hours worked | 125,000 | |
| Direct labor cost | $ | 1,262,500 |
| Variable overhead cost | $ | 72,000 |
| Fixed overhead cost | $ | 54,000 |
Required:
1. Calculate the direct materials price, quantity,
and total spending variances for the company.
2. Calculate the direct labor rate, efficiency,
and total spending variances for the company.
3. Calculate the variable overhead rate,
efficiency, and total spending variances for the company.
Solutions
ekkarill92 answered 2 years agoRelated Solutions
Bullseye Company manufactures dartboards. Its standard cost information follows: Standard Quantity Standard Price (Rate) Standard Unit...
Bullseye Company manufactures dartboards. Its standard cost
information follows:
Standard Quantity
Standard Price (Rate)
Standard Unit Cost
Direct materials (cork board)
2.00
sq. ft.
$
2.20
per sq. ft.
$
4.40
Direct labor
1
hrs.
$
15.00
per hr.
15.00
Variable manufacturing overhead (based on direct labor
hours)
1
hrs.
$
0.30
per hr.
0.30
Fixed manufacturing overhead ($39,000 ÷ 260,000 units)
0.15
Bullseye has the following actual results for the month of
September:
Number of units produced and sold...
Bullseye Company manufactures dartboards. Its standard cost information follows: Standard Quantity Standard Price (Rate) Standard Unit...
Bullseye Company manufactures dartboards. Its standard cost
information follows:
Standard Quantity
Standard Price (Rate)
Standard Unit Cost
Direct materials (cork
board)
3.50
sq. ft.
$
2.50
per sq. ft.
$
8.75
Direct labor
1
hrs.
$
11.00
per hr.
11.00
Variable manufacturing overhead
(based on direct labor hours)
1
hrs.
$
0.55
per hr.
0.55
Fixed manufacturing overhead
($51,000 ÷ 170,000 units)
0.30
Bullseye has the following actual results for the month of
September:
Number of units produced and
sold...
Bullseye Company manufactures dartboards. Its standard cost information follows: Standard Quantity Standard Price (Rate) Standard Unit...
Bullseye Company manufactures dartboards. Its standard cost
information follows:
Standard Quantity
Standard Price (Rate)
Standard Unit Cost
Direct materials (cork
board)
2.50
sq. ft.
$
2.30
per sq. ft.
$
5.75
Direct labor
1
hrs.
$
16.00
per hr.
16.00
Variable manufacturing overhead
(based on direct labor hours)
1
hrs.
$
0.50
per hr.
0.50
Fixed manufacturing overhead
($42,000 ÷ 210,000 units)
0.20
Bullseye has the following actual results for the month of
September:
Number of units produced and
sold...
Rip Tide Company manufactures surfboards. Its standard cost information follows: Standard Quantity Standard Price (Rate) Standard...
Rip Tide Company manufactures surfboards. Its standard cost
information follows:
Standard Quantity
Standard Price (Rate)
Standard Unit Cost
Direct materials (fiberglass)
15
sq. ft.
$
5
per sq. ft.
$
75.00
Direct labor
10
hrs.
$
15
per hr.
150.00
Variable manufacturing overhead (based on direct labor
hours)
10
hrs.
$
6
per hr.
60.00
Fixed manufacturing overhead ($24,000 ÷ 300 units)
80.00
Rip Tide has the following actual results for the month of
June:
Number of units produced and...
A company’s standard cost information for last year follows: Standard Quantity Standard Price Rate Standard Unit...
A company’s standard cost information for last year
follows:
Standard Quantity
Standard Price Rate
Standard Unit Cost
Direct materials
1.5 lbs.
$1.75 per lb.
$3.05
Direct labor
1.5 hrs.
$10 per hr.
$16.00
Variable manufacturing overhead (based on DL hrs)
1.5 hrs.
$1.25 per hr.
$2.38
The company had the following actual results for the past
year:
Number of units produced and sold
175,000
Number of pounds of raw materials used
310,000
Cost of raw materials
$496,000
Number of labor...
Standard cost information: Standard Quantity / Unit Standard Price Standard Cost / Unit Direct Material 2...
Standard cost information:
Standard Quantity / Unit
Standard Price
Standard Cost / Unit
Direct Material
2
$0.75
$1.50
Direct Labor
5
$0.35
$1.75
Variable Overhead
3
$1.20
$3.60
Actual cost information:
Total Actual Used
Total Actual Cost
Direct Material
19,500
$19,500
Direct Labor
34,500
$15,750
Variable Overhead
18,000
$22,000
Do not enter dollar signs or commas in the input boxes.
Round all Unit values to 2 decimal places. Round all other answers
to the nearest whole number.
Enter all variances...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Quantity Standard...
Barley Hopp, Inc.,
manufactures custom-ordered commemorative beer steins. Its standard
cost information follows:
Standard Quantity
Standard Price (Rate)
Standard Unit Cost
Direct materials
(clay)
1.60
lbs.
$
1.70
per lb.
$
2.72
Direct
labor
1.60
hrs.
$
11.00
per hr.
17.60
Variable
manufacturing overhead (based on direct labor hours)
1.60
hrs.
$
1.10
per hr.
1.76
Fixed
manufacturing overhead ($275,000.00 ÷ 110,000.00 units)
2.50
Barley Hopp had the following actual results last year:
Number of units
produced and sold
115,000...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Quantity Standard...
Barley Hopp, Inc., manufactures custom-ordered commemorative
beer steins. Its standard cost information follows:
Standard Quantity
Standard Price (Rate)
Standard Unit Cost
Direct materials (clay)
1.60
lbs.
$
1.70
per lb.
$
2.72
Direct labor
1.60
hrs.
$
14.00
per hr.
22.40
Variable manufacturing overhead (based on direct labor
hours)
1.60
hrs.
$
1.20
per hr.
1.92
Fixed manufacturing overhead ($312,500.00 ÷ 125,000.00
units)
2.50
Barley Hopp had the following actual results last year:
Number of units produced and sold
130,000...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Quantity Standard...
Barley Hopp, Inc., manufactures custom-ordered commemorative
beer steins. Its standard cost information follows:
Standard Quantity
Standard Price (Rate)
Standard Unit Cost
Direct materials (clay)
1.70
lbs.
$
1.80
per lb.
$
3.06
Direct labor
1.70
hrs.
$
10.00
per hr.
17.00
Variable manufacturing overhead (based on direct labor
hours)
1.70
hrs.
$
1.10
per hr.
1.87
Fixed manufacturing overhead ($402,500.00 ÷ 175,000.00
units)
2.30
Barley Hopp had the following actual results last year:
Number of units produced and sold
180,000...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Quantity Standard...
Barley Hopp, Inc., manufactures custom-ordered commemorative
beer steins. Its standard cost information follows:
Standard Quantity
Standard Price (Rate)
Standard Unit Cost
Direct materials (clay)
1.7
lbs.
$
1.20
per lb.
$
2.04
Direct labor
1.9
hrs.
$
12.00
per hr.
22.80
Variable manufacturing overhead (based on direct labor
hours)
1.9
hrs.
$
1.70
per hr.
3.23
Fixed manufacturing overhead ($270,300 ÷ 106,000 units)
2.55
Barley Hopp had the following actual results last year:
Number of units produced and sold
95,600...
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