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Category > Management Posted 21 Dec 2017 My Price 10.00

What is the budgeted cost and actual cost

Use the information below to answer these questions

  • What is the budgeted cost and actual cost, respectively, of producing one tire is (to the nearest $)
  • What is the direct labor efficiency variance is:
  • What is the direct materials quantity variance is:
  • What is the direct materials price variance is:

 

The budgeted and actual costs at Goodyear Company is as follows:

Budgeted costs

Actual costs

Materials (per tire): 12 lbs @ $1.80/lb

Total materials purchased: 840,000lbs

Labor (per tire): 4 hrs. @ $14/hr

Total cost of purchase: $1,554,000

Factory O/H (per tire): 3 hrs. @ $8/hr

Total material used: 849,600 lbs
 

Labor (per tire): 4.1 hrs @ $13/hr
 

Factory O/H (per tire): 2.8 hrs @ $8.50/hr

 

During October, Goodyear produced 72,000 tires.

Answers

CourseLover
(12)
Status NEW Posted 21 Dec 2017 03:12 PM My Price 10.00

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