Maurice Tutor

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Category > Management Posted 26 Apr 2018 My Price 9.00

Kropf Inc

Kropf Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours.

Inputs Standard Quantity or Hours per Unit of Output Standard Price or Rate
Direct materials  

7.90

 liters $ 7.50 per liter
Direct labor   0.50 hours $ 26.70 per hour
Variable manufacturing overhead   0.50 hours $ 6.40 per hour
 

The company has reported the following actual results for the product for September:

       
Actual output   10,100 units
Raw materials purchased   75,500 liters
Actual cost of raw materials purchased $ 605,500  
Raw materials used in production   79,800 liters
Actual direct labor-hours   4,770 hours
Actual direct labor cost $ 130,302  
Actual variable overhead cost $ 23,814  
 

Required:

a. Compute the materials price variance for September.

b. Compute the materials quantity variance for September.

c. Compute the labor rate variance for September.

d. Compute the labor efficiency variance for September.

e. Compute the variable overhead rate variance for September.

f. Compute the variable overhead efficiency variance for September.

(Input all amounts as positive values.)

Answers

Maurice Tutor
(5)
Status NEW Posted 26 Apr 2018 07:04 PM My Price 9.00

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