Thank You y! QCy!takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator3D&inprogress3falseActuai nours ror the week (30 empioyees X 32hours)960 hrs.Required:a. Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimal places.Direct materials standard cost per unitDirect labor standard cost per unitTotal standard cost per unitb. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Round your answers to the nearest whole dollar. Enter afavorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.<>Direct Materials Price VarianceDirect Materials Quantity VarianceTotal Direct Materials Cost Variancec. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Round your answers to the nearest whole dollar. Enter a favorable variance asa negative number using a minus sign and an unfavorable variance as a positive number.Direct Labor Rate VarianceDirect Labor Time VarianceTotal Direct Labor Cost VariancePreviousNext%24%24%24%24%24%24%24%24%24 Direct Materials and Direct Labor Variance AnalysisAbbeville Fixture Company manufactures units in a small manufacturing facility. The units are made from brass. Manufacturing has 30 employees. Each employee presently provides 32hours of labor per week. Information about a production week is as follows:Standard wage per hour$16.8Standard labor time per unit20 min.Standard number of Ibs. of brass2.1 Ibs.Standard price per Ib. of brass$12Actual price per Ib. of brass$12.25Actual Ibs. of brass used during the week17,520Ibs.Number of units produced during the week8,100Actual wage per hour<>$17.3Actual hours for the week (30 employees x 32960 hrs.hours)Required:a. Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimal places.Direct materials standard cost per unitDirect labor standard cost per unitTotal standard cost per unit$b. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Round your answers to the nearest whole dollar. Enter a10:36 PM%24%24%24

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Birect Materials and Direct Labor Variance Analysis Abbeville Fixture Company manufactures units in a small manufacturing facility. The units are made from brass. Manufacturing has 30 employees. Each employee presently provides 32 hours of labor per week. Information about a production week is as follows: Standard wage per hour $16.8 Standard labor time per unit 20 min. Standard number of Ibs. of brass 2.1 lbs. Standard price per Ib. of brass $12 Actual price per Ib. of brass $12.25 Actual Ibs. of brass used during the week 17,520 Ibs. Number of units produced during the week 8,100 Actual wage per hour $17.3 Actual hours for the week (30 employees x 32 960 hrs. hours) Required: a. Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimal places. Direct materials standard cost per unit Direct labor standard cost per unit Total standard cost per unit Dotormine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Round your answers to the nearest whole dollar. Enter a

Birect Materials and Direct Labor Variance Analysis Abbeville Fixture Company manufactures units in a small manufacturing facility. The units are made from brass. Manufacturing has 30 employees. Each employee presently provides 32 hours of labor per week. Information about a production week is as follows: Standard wage per hour $16.8 Standard labor time per unit 20 min. Standard number of Ibs. of brass 2.1 lbs. Standard price per Ib. of brass $12 Actual price per Ib. of brass $12.25 Actual Ibs. of brass used during the week 17,520 Ibs. Number of units produced during the week 8,100 Actual wage per hour $17.3 Actual hours for the week (30 employees x 32 960 hrs. hours) Required: a. Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimal places. Direct materials standard cost per unit Direct labor standard cost per unit Total standard cost per unit Dotormine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Round your answers to the nearest whole dollar. Enter a

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 2PB: The following product costs are available for Kellee Company on the production of eyeglass frames:...

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I. PROBLEM SOLVINGAnswer the following items on the space provided. Show your computations.At the beginning of 201A, ABC Company had the following standard costs for one (1) of its chemical products:Direct material (3 pounds at P3.20) P9.60Labor standard (0.9 hours at P9.00) 8.10Variable overhead (0.9 hours at P1.50) 1.35Fixed overhead (0.9 hours at P4.00) 3.60Total P22.65ABC computes its overhead rates using budgeted capacity, which is 144,000 units. Actual results for 201Aare:Units produced 140,000 unitsMaterials purchased 421,175 lbs. at P3.30Materials used 421,000 lbs.Direct labor 128,750 hrs at P8.90Fixed overhead P517,525Variable overhead 218,000Required: Indicate whether conditions are favorable or unfavorable. 4. Labor rate variance (LRV)5. Labor efficiency variance (LEV)6. Variable overhead (VOH) rate variance7. VOH efficiency variance8. Fixed overhead (FOH) spending variance9. FOH volume variance
I. PROBLEM SOLVINGAnswer the following items on the space provided. Show your computations.At the beginning of 201A, ABC Company had the following standard costs for one (1) of its chemical products:Direct material (3 pounds at P3.20) P9.60Labor standard (0.9 hours at P9.00) 8.10Variable overhead (0.9 hours at P1.50) 1.35Fixed overhead (0.9 hours at P4.00) 3.60Total P22.65ABC computes its overhead rates using budgeted capacity, which is 144,000 units. Actual results for 201Aare:Units produced 140,000 unitsMaterials purchased 421,175 lbs. at P3.30Materials used 421,000 lbs.Direct labor 128,750 hrs at P8.90Fixed overhead P517,525Variable overhead 218,000Required: Indicate whether conditions are favorable or unfavorable. 1. Material purchase price variance (MPPV)2. Material price usage variance (MPUV)3. Material quantity variance (MQV)4. Labor rate variance (LRV)5. Labor efficiency variance (LEV)6. Variable overhead (VOH) rate variance7. VOH efficiency variance8. Fixed overhead (FOH)…
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