Acme Inc. has the following information available: Actual Price paid for material  $1.00 Standard Price for material  $0.90 Actual quantity purchased and used in production 100 Standard quantity for units produced 90 Actual labor rate per hour  $15.00 Standard labor rate per hour $14.00 Actual hours  200 hours Standard hours for units produced 190 hours   Variance Variance Amount Favorable (F) or Unfavorable (U) Material Price     Material Quantity     Total DM Cost Variance     Labor Rate     Labor Efficiency     Total  DL Cost Variance

Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter8: Budgeting For Planning And Control
Section: Chapter Questions
Problem 14CE: Refer to Cornerstone Exercise 8.13. In March, Nashler Company produced 163,200 units and had the...
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Acme Inc. has the following information available:

Actual Price paid for material  $1.00

Standard Price for material  $0.90

Actual quantity purchased and used in production 100

Standard quantity for units produced 90

Actual labor rate per hour  $15.00

Standard labor rate per hour $14.00

Actual hours  200 hours

Standard hours for units produced 190 hours

 

Variance

Variance Amount

Favorable (F) or Unfavorable (U)

Material Price

   

Material Quantity

   

Total DM Cost Variance

   

Labor Rate

   

Labor Efficiency

   

Total  DL Cost Variance

   
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