The following summarized manufacturing data relate to Thomas Corporation's April operations, during which 2,000 finished units of product were produced. Normal monthly capacity is 1,100 direct labor hours.

Material, Labor, and Variable Overhead Variances
The following summarized manufacturing data relate to Thomas Corporation's April operations, during which 2,000 finished units of product were produced. Normal monthly capacity is 1,100 direct labor hours.

	Standard Units Costs
Direct material
Standard (2 lb. @ $16.00/lb.)	$32
Actual (4,200 lb. @ $16.80/lb.)		$70,560
Direct labor
Standard (0.5 hr. @ $31/hr.)	$15.50
Actual (950 hrs. @ $30/hr.)		28,500
Variable overhead
Standard (0.5 hr. @ $13/hr.)	$6.50
Actual	-	13,450
Total	$54	$112,510

Determine the following variances:

Do not use negative signs with any of your answers. Next to each variance answer, select either "F" for Favorable or "U" for Unfavorable.

Materials Variances
Actual cost:
Split cost:
Standard cost:

Materials price
Materials efficiency

Labor Variances
Actual cost:
Split cost:
Standard cost:


Labor rate
Labor efficiency

Variable Overhead Variances
Actual cost:
Split cost:
Standard cost:

Variable overhead spending
Variable overhead efficiency

Expert Solution

Material Variances
Actual cost (4200 x $16.80)	70560
Split cost (4200 x $16)	67200
Standard cost (2000 x 2 x $16)	64000
Materials price	3360	U
Materials efficiency	3200	U

Labor Variances
Actual cost (950 x $30)	28500
Split cost (950 x $31)	29450
Standard cost (2000 x 0.5 x $31)	31000
Labor rate	950	F
Labor efficiency	1550	F

Variable Overhead Variances
Actual cost	13450
Split cost (950 x $13)	12350
Standard cost (2000 x 0.5 x $13)	13000
Labor rate	1100	U
Labor efficiency	650	F

ekkarill92 answered 2 years ago

The following data relates to Koontz Corporation's operations for the month. 1,000 finished units of product...

The following data relates to Koontz Corporation's operations for the month. 1,000 finished units of product were produced and the normal monthly capacity is 2,200 direct labor hours. Standard Unit Costs Total Actual Costs Direct Material: Standard (2 lb. @ $10/lb.) $20 Actual (2,200 lb. @ $9.80/lb.) $21,560 Direct Labor: Standard (2 hr. @ $20/hr.) $40 Actual (2,400 hrs. @ $20.20/hr.) $48,480 Variable Overhead: Standard (0.5 hr. @ $4/hr.) $2 Actual $8,700 Total...

Blue Corporation's standards call for 6,650 direct labor-hours to produce 1,900 units of product. During May...

Blue Corporation's standards call for 6,650 direct labor-hours to produce 1,900 units of product. During May 1,600 units were produced and the company worked 1,800 direct labor-hours. The standard hours allowed for May production would be: 1,800 hours 6,650 hours 5,600 hours 5,050 hours

Davis Company produced 159,000 sport jackets during 2015 and 530,000 direct manufacturing labor hours were used...

Davis Company produced 159,000 sport jackets during 2015 and 530,000 direct manufacturing labor hours were used at $3 per hour. The conversion costs were $1.20 per jackets produced. What is the total factor productivity for Davis Company? a. 2.500 units of output per dollar b. 0.300 units of outpur per dollar c. 0.298 units of output per dollar d. 0.089 units of output per dollar

Total cost data follow for Glendale Manufacturing Company, which has a normal capacity per period of 8,000 units of product that sell for $60 each. For the foreseeable future, regular sales volume should continue to equal normal capacity.

Special OrderTotal cost data follow for Glendale Manufacturing Company, which has a normal capacity per period of 8,000 units of product that sell for $60 each. For the foreseeable future, regular sales volume should continue to equal normal capacity.Direct material$100,800Direct labor62,400Variable manufacturing overhead46,800Fixed manufacturing overhead (Note 1)38,400Selling expense (Note 2)35,200Administrative expense (fixed)15,000$298,600Notes:1. Beyond normal capacity, fixed overhead costs increase $1,800 for each 500 units or fraction thereof until a maximum capacity of 10,000 units is reached.2. Selling expenses consist of...

Question