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Landkirk computes its overhead rates using practical volume, which is 3,400 units. The actual results for the year are as follows: ( SEE PICTURE ATTACHED) ADDITIONAL INFO Units produced: 3,100 Actual yield: 4,650 kg Direct materials purchased: Almond 2,800 kg @ P56.00; Chocolate 4,000 @ P57.00 Direct materials used: Almond 2,500 kg; Chocolate 3,600 kg Direct labor: Assembly 1,800 hours @ 40.00; Packaging 1,500 hours @ P40.00 Variable overhead: P65,000 Fixed overhead: P105,000   REQUIREMENTS Labor rate variance Labor efficiency variance Labor mix variance Labor yield variance Using the four-way variance analysis, the variable overhead spending variance Using the four-way variance analysis, the variable overhead efficiency variance Using the four-way variance analysis, the fixed overhead spending variance Using the four-way variance analysis, the volume overhead variance. Using the three-way variance analysis, the spending variance Using the two-way variance analysis, the controllable variance Using the two-way variance analysis, the uncontrollable variance.

Landkirk computes its overhead rates using practical volume, which is 3,400 units. The actual results for the year are as follows: ( SEE PICTURE ATTACHED) ADDITIONAL INFO Units produced: 3,100 Actual yield: 4,650 kg Direct materials purchased: Almond 2,800 kg @ P56.00; Chocolate 4,000 @ P57.00 Direct materials used: Almond 2,500 kg; Chocolate 3,600 kg Direct labor: Assembly 1,800 hours @ 40.00; Packaging 1,500 hours @ P40.00 Variable overhead: P65,000 Fixed overhead: P105,000   REQUIREMENTS Labor rate variance Labor efficiency variance Labor mix variance Labor yield variance Using the four-way variance analysis, the variable overhead spending variance Using the four-way variance analysis, the variable overhead efficiency variance Using the four-way variance analysis, the fixed overhead spending variance Using the four-way variance analysis, the volume overhead variance. Using the three-way variance analysis, the spending variance Using the two-way variance analysis, the controllable variance Using the two-way variance analysis, the uncontrollable variance.

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter6: Activity-based, Variable, And Absorption Costing
Section: Chapter Questions
Problem 5PB: Wrappers Tape makes two products: Simple and Removable. It estimates it will produce 369,991 units...
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Landkirk computes its overhead rates using practical volume, which is 3,400 units. The actual results for the year are as follows:

( SEE PICTURE ATTACHED)

ADDITIONAL INFO

  • Units produced: 3,100
  • Actual yield: 4,650 kg
  • Direct materials purchased: Almond 2,800 kg @ P56.00; Chocolate 4,000 @ P57.00
  • Direct materials used: Almond 2,500 kg; Chocolate 3,600 kg
  • Direct labor: Assembly 1,800 hours @ 40.00; Packaging 1,500 hours @ P40.00
  • Variable overhead: P65,000
  • Fixed overhead: P105,000
  •  

REQUIREMENTS

  1. Labor rate variance
  2. Labor efficiency variance
  3. Labor mix variance
  4. Labor yield variance
  5. Using the four-way variance analysis, the variable overhead spending variance
  6. Using the four-way variance analysis, the variable overhead efficiency variance
  7. Using the four-way variance analysis, the fixed overhead spending variance
  8. Using the four-way variance analysis, the volume overhead variance.
  9. Using the three-way variance analysis, the spending variance
  10. Using the two-way variance analysis, the controllable variance
  11. Using the two-way variance analysis, the uncontrollable variance.
P. P. P. SP Usage Standard Cost Direct Material Almond 0.75 kg P. 37.50 Chocolate 1.25 kg 75.00 P. Total 2.00 kg 112.50 P. Direct Labor Assembly 0.75 hour 30.00 00'0 P. Packaging 0.25 hour 7.50 00'0 Total 1 hour 37.50 Overhead Variable 20.00 1 hour 20.00 P. Fixed 30.00 1 hour 30.00 P. P. Total 50.00 Total Cost per Unit 200.00
Transcribed Image Text:P. P. P. SP Usage Standard Cost Direct Material Almond 0.75 kg P. 37.50 Chocolate 1.25 kg 75.00 P. Total 2.00 kg 112.50 P. Direct Labor Assembly 0.75 hour 30.00 00'0 P. Packaging 0.25 hour 7.50 00'0 Total 1 hour 37.50 Overhead Variable 20.00 1 hour 20.00 P. Fixed 30.00 1 hour 30.00 P. P. Total 50.00 Total Cost per Unit 200.00
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