Maurice Tutor

(5)

$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 2 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 02 Aug 2017 My Price 11.00

Bonita Labs

Bonita Labs performs steroid testing services to high schools, colleges, and universities. Because the company deals solely with educational institutions, the price of each test is strictly regulated. Therefore, the costs incurred must be carefully monitored and controlled. Shown below are the standard costs for a typical test.
Direct materials (1 petri dish @ $1.80 per dish) ………….$ 1.80
Direct labor (0.5 hours @ $20.50 per hour) ……………….10.25
Variable overhead (0.5 hours @ $8 per hour) ………………4.00
Fixed overhead (0.5 hours @ $5 per hour) …………………2.50
Total standard cost per test ………………………………$18.55
The lab does not maintain an inventory of petri dishes. Therefore, the dishes purchased each month are used that month. Actual activity for the month of May 2014, when 2,500 tests were conducted, resulted in the following.
Direct materials (2,530 dishes) ………………………$ 5,060
Direct labor (1,240 hours) ……………………………26,040
Variable overhead ……………………………………10,100
Fixed overhead ………………………………………...5,700
Monthly budgeted fixed overhead is $6,000. Revenues for the month were $55,000, and selling and administrative expenses were $2,000.
Instructions
(a) Compute the price and quantity variances for direct materials and direct labor.
(b) Compute the total overhead variance.
(c) Prepare an income statement for management.
(d) Provide possible explanations for each unfavorable variance.

Answers

Maurice Tutor
(5)
Status NEW Posted 02 Aug 2017 12:08 PM My Price 11.00

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