Problem 24-09A Blossom Clothiers is a small company that manufactures tall-men’s suits. The company has used...

Problem 24-09A

Blossom Clothiers is a small company that manufactures tall-men’s suits. The company has used a standard cost accounting system. In May 2020, 10,300 suits were produced. The following standard and actual cost data applied to the month of May when normal capacity was 17,510 direct labor hours. All materials purchased were used.

Cost Element	Standard (per unit)	Actual
Direct materials	9 yards at $5.00 per yard	$457,660 for 93,400 yards ($4.90 per yard)
Direct labor	1.80 hours at $13.80 per hour	$271,788 for 19,140 hours ($14.20 per hour)
Overhead	1.80 hours at $6.30 per hour (fixed $4.30; variable $2.00)	$49,700 fixed overhead $37,500 variable overhead

Overhead is applied on the basis of direct labor hours. At normal capacity, budgeted fixed overhead costs were $75,293, and budgeted variable overhead was $35,020.

Compute the overhead controllable variance and the overhead volume variance.

Overhead controllable variance		$		Neither favorable nor unfavorableFavorableUnfavorable
Overhead volume variance		$		Neither favorable nor unfavorableFavorableUnfavorable

Solutions

Expert Solution

ekkarill92 answered 1 year ago

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